Practica Capital invests €1.5m in East West Agro

The deal also includes a €4.5m long-term financing package from Swedbank, bringing the total investment in EWA to €6m.

Practica and Swedbank's investment enabled EWA to become an authorised dealer of US agricultural machinery brand Massey Ferguson, which the company expects will boost its growth. CEO Danas Šidlauskas said in a statement that the capital injection has solved any funding problems the company faces in the next few years, provided it does not materially exceed its projected growth.

The investment comes the year after EWA bought back a substantial shareholding in the company that had been held by agricultural conglomerate KG Group since 2012.

Company
Founded in 2006, East West Agro is a seller of agricultural machinery, such as tractors and combine harvesters, as well as spare parts.

The company is headquartered in Kumpiai near Kaunas and operates across the Baltic countries. EWA employs a staff of 42.

People
Practica Capital – Petras Mičiūnas (partner).
East West Agro – Danas Šidlauskas (CEO).

Advisers
Equity – Orion Securities (corporate finance); Cobalt (legal).

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