Livonia Partners has reached an agreement to acquire Klaasimeister, an Estonia-based export driven glass processing company. The transaction is expected to close at a later date, subject to approval by the Estonian Competition Authority. The parties have agreed not to disclose the financial details of the transaction.

Klaasimeister AS is a leading float and specialty glass processor specializing in providing insulated glass units and other glass products to complex facade projects. The company was established in 1997 and today operates a modern state-of-the-art production facility 30km from Tallinn. Throughout its history Klaasimeister has successfully serviced customers across Scandinavia and completed some of the most marquee projects such as Oslo airport, Helsinki library among others.

“Klaasimeister has enjoyed substantial growth and consistent profitability over a long period of time. Supporting such well-run internationally focused Baltic companies has become the handwriting for Livonia. Founders of the company have done an excellent job in building a great business. It is now our turn to help Klaasimeister reach next stages in its development” said Kaido Veske, a founding partner of Livonia Partners.

“The investment in Klaasimeister, once closed, provides an excellent example of how pension funds can invest into the local economy and benefit from the growth of regional champions” added Veske.

Klaasimeister is an Estonian glass processing company, operating from a manufacturing facility in Kolu Village, Harju County. Klaasimeister is focused on producing energy efficient insulated glass units for complex facade projects. Main processing capabilities include glass cutting, CNC processing, heat treatment, laminating, silk-printing, roller-coating and assembling of insulated glass units.

Livonia Partners is the only dedicated private equity investment fund based in the Baltics, currently managing €83 million as part of the Livonia Partners Fund I and the Livonia Partners EIF Co-Investment Fund. Run by founders Kaido Veske, Kristīne Bērziņa, Rain Lõhmus, and Mindaugas Utkevičius, its investors are domestic and international financial institutions. Livonia was partly originated through the Baltic Innovation Fund (BIF), a common initiative of Estonia, Latvia, Lithuania and the European Investment Fund.