BaltCap backs Labochema

Investment was made through the Lithuania SME Fund which closed on €20m in 2010 and makes investments up to €3m in Lithuanian SMEs. BaltCap raised the fund as part of the JEREMIE initiative - a joint venture between the EC, EIB and the EIF that aims to improve access to finance for SMEs and startups in Europe. The transaction represents the Lithuanian fund's third investment to date.

Investment will support the management team's plans for growth in Lithuania and other Baltic countries. Siauliu bankas will provide Labochema with a new loan facility alongside BaltCap's equity investment.

Company
Founded in 1991, Labochema is a group of companies providing laboratory supplies and related services in the Baltics such as chemicals, reagents, furniture, equipment, instrumentation and consumables from global scientific manufacturers. The group includes Labochema LT, Labochema Latvija and Labochema Eesti located in Vilnius, Riga and Tartu.

People
Kornelijus Celutka is investment director at BaltCap and worked on the transaction alongside colleague Sarunas Stepukonis. Paulius Miezys is chairman of the board at Labochema.

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• Topics
• Nordics
• Healthcare
• Expansion
• Baltcap Management Ltd
• Lithuania