M&A Deal Summary

Azkoyen Acquires Vendon

On July 1, 2022, Azkoyen acquired information technology company Vendon from BaltCap

Acquisition Highlights
  • This is Azkoyen’s 1st transaction in the Information Technology sector.
  • This is Azkoyen’s 1st transaction in Latvia.

M&A Deal Summary
Date 2022-07-01
Target Vendon
Sector Information Technology
Buyer(s) Azkoyen
Sellers(s) BaltCap
Deal Type Add-on Acquisition

Target

Vendon

Riga, Latvia
Vendon is a global technology company, providing easy-to-use business intelligence and telemetry solution for the vending and coffee industry. Vendon serves the largest food and beverage brands worldwide and thousands of companies in more than 75 countries helping them to remotely manage their machines, optimize daily business. Vendon was founded in 2009 and is based in Riga, Latvia.

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Buyer(S) 1

Buyer

Azkoyen

Peralta, Spain
Category Company
Founded 1945
Sector Machinery
Employees923
Revenue 192M EUR (2023)
DESCRIPTION

Azkoyen designs, manufactures and sells technology solutions. It operates through time & security, coffee & vending systems, and Payment Technologies segments. The Time & Security segment manufactures, markets, and installs software and hardware systems for access control, time recording, and integrated security systems. The Coffee & Vending Systems segment manufactures and markets vending machines for hot and cold drinks, and cigarettes and tobacco. It serves bakeries, coffee shops, hotels, restaurants, offices, retail shops, convenience stores, hospitals, leisure centres, service stations, sports centres, the transport sector, universities, government agencies, etc. Azkoyen was founded in 1945 and is based in Peralta, Spain.

DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Latvia) 1 of 1
Year (2022) 1 of 1

Seller(S) 1

SELLER

BaltCap

Vilnius, Lithuania

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 400M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

BaltCap is a private equity and venture capital group focused on investing in the Baltic States of Latvia, Estonia, and Lithuania. The Firm looks to fund buyouts, buy-ins, and growth capital needs. BaltCap is a generalist investor and will consider opportunities in a wide range of sectors. The Firm will consider both the majority and minority positions. BaltCap was formed in 1995 and has offices in Tallinn, Riga, Vilnius, Helsinki, Stockholm, and Warsaw.

DEAL STATS #
Overall 39 of 42
Sector (Information Technology) 2 of 3
Type (Add-on Acquisition) 18 of 19
Country (Latvia) 11 of 14
Year (2022) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-01 INTRAC

Stockholm, Sweden

INTRAC is an exclusive importer of heavy machines. INTRAC represents among other brands John Deere forest equipment, case and doosan earthmoving machinery, massey ferguson tractors and combines, manitou telehandlers and bomag road-building equipment. INTRAC was founded in 1970 and is based in Stockholm, Sweden.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-01 Rahva Raamat

Tallinn, Estonia

Rahva Raamat is an integrated book retailer, publisher, and distributor. Rahva Raamat also supplies 250 retail stores. Rahva Raamat was founded in 1912 and is based in Tallinn, Estonia.

Buy -
Mergr

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