INVL Baltic Sea Growth Fund, a closed-end mutual fund managed by Lithuanian asset management company INVL Asset Management, has agreed to purchase a majority stake in Eco Baltia.
The Latvian-based company provides a full cycle of waste management starting with collection and sorting up to logistics, wholesale and processing of recycled materials, according to Eco Baltia’s website.
The European Bank for Reconstruction and Development (EBRD) currently holds 30.51 percent of shares in Eco Baltia. Following the deal, it will remain the second-largest stakeholder in Eco Baltia, alongside INVL.
Launched in June 2018, the INVL Baltic Sea Growth Fund seeks to acquire controlling or significant minority stakes of medium-size companies, according to INVL.
The fund seeks to form a diversified portfolio of Baltic Sea region companies and will focus on growth capital, buyout, and “buy and build” investments, according to INVL. The fund’s target size is €200
