Redgate Capital’s alternative investments division has acquired forestry equipment producer OÜ Westenpark.
OÜ Westenpark (www.weimer.ee) produces carriages, cranes, grapples and winches under a brand name Weimer. The trade mark Weimer comes from Sweden and the history dates back about 60 years. Production is located in Tartu. Company’s main markets are Austria, Germany, Sweden, Norway, Slovenia and Ukraine. The brand is well known for its durance and good technical solutions. In 2013, the company generated revenues of 4.8 MEUR. Company’s former owner and CEO Mr. Lennart Cederqvist will continue in the management board together with the new owners.
„Weimer is well known for buyers in the target markets and they value the product for its high quality. We see growth potential for the company and believe we can increase the sales in the coming years“, commented Redgate Capital’s Senior Partner Mr. Mart Altvee.
The parties have agreed not to disclose the transaction price.
Redgate is interested in Estonian and neighbouring countries’ companies with good growth potential. Mart Altvee says that Redgate Capital’s Private Equity division seeks for investments in medium sized enterprises who have plans to grow in the future and wish to have an experienced partner alongside and/or if the company lacks capital for expansion, or whose owners wish to sell the company or expand the ownership for other reasons. Investment capital comes mainly from the Baltic and Scandinavian investors. Redgate actively manages all the investments.
Previously Redgate Capital has acquired a printing services and graphic design company Ecoprint; metal and steel importer and wholesaler Reval Nordic Steel; a building material sector company Põltsamaa Graniit; a wooden element and log houses producer RPM Group; and one of the largest locks and related accessories retailer, wholesaler and service provider in Estonia – Luku-Expert OÜ. Redgate made a successful exit from Reval Nordic Steel in 2012 when the company was sold to ELME Metall (part of BLRT Grupp), other companies continue to grow according to the strategy.
Redgate Capital is an investment management and investment banking services group offering top class financial advisory and investment management services in the Baltics. Redgate Capital’s Senior Partners and major owners are Mr Veikko Maripuu, Mr Mart Altvee and Mr Aare Tammemäe.
Mart Altvee, Senior Partner
Phone: +372 66 68 200