Top management acquired TD Baltic AS – one of the largest distributor of IT products in the Baltics

Senior executives of TD Baltic AS Ervinas Leontjevas and Henrikas Pragarauskas acquired 96.6% share of the company from a Swedish private equity investor Askembla Growth Fund. The parties have agreed not to disclose the transaction price.

Ervinas Leontjevas and Henrikas Pragarauskas have worked with TD Baltics from its early years. „We believe our industry is poised for a new period of robust growth, backed by solid macroeconomic performance of our home markets as well as strong business and consumer demand for a growing and rapidly evolving range of IT products. We see this transaction as an opportunity for our team to continue building the value of TD Baltic with renewed focus; we have set ourselves ambitious goals for the next 2-3 years and will do our best to reach them“, says Ervinas Leontjevas, Managing Director of TD Baltic.

Askembla Growth Fund’s financial advisor in the transaction has been Redgate Capital and legal advisor Tark Grunte Sutkiene. The management buy-out was financed by Swedbank Lithuania.

„TD Baltic is a long-standing client of Swedbank, and we know their business very well. By financing this transaction we expressed confidence in management‘s ability to develop sustainable business and we will support the company on its further path to growth“, said Mintautas Miškinis, Head of Large Corporate Client Department at Swedbank Lithuania.

TD Baltic AS, established in 1994, is one of the largest distributors of IT products in the Baltics. TD offers full range of IT products from more than fifty producers, including HP, IBM, Dell, Cisco, Philips, Samsung, Microsoft, Xerox etc. In addition, the company offers its customers sales support, logistics and other services. The company had net sales of EUR 48 million and a net profit of EUR 339 thousand in 2012.

Askembla Growth Fund started to prepare exits from its holdings in the Baltic countries earlier this year. In addition to TD Baltics the fund has divested its interests in one of the largest DIY retailers in the Baltic countries, Bauhof Group AS, and the largest chain of fitness clubs in Estonia, My Fitness AS.

Additional Information:

Ervinas Leontjevas, CEO of TD Baltic AS, ELeontjevas@tdbaltic.lt
Christoffer Kurpatow, Founding Partner in Askembla Growth Fund, CK@askembla.se