KJK acquires heavy equipment provider Alwark

The GP will acquire a 66% stake in the company via its €250m KJK Fund III, which held a final close in January 2020 and is focused on SMEs in the Balkan and Baltic regions.

Gediminas Šimkus, the chairman of Alwark's board, said in a statement that the company planned on expanding through new acquisitions in the Baltic states and the neighbouring region, as well as providing new services.

Company
Founded in 2007 and based in Vilnius, Alwark is a provider of sales, rental and maintenance services for equipment used by warehouses, seaports, airports and municipal machinery. 

The group consists of companies across Lithuania, Latvia, Estonia and Ukraine. The company's 2020 turnover exceeded €43m, and its profit before tax was €2.7m.

People
Alwark Group – Julius Urbanavičius (CEO).
KJK – Kustaa Äimä (managing partner).

Advisers
Company – Walless (legal).
Equity – EY (financial due diligence, tax); Cobalt (legal).

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