Growth Capital • Consumer Products

BaltCap Invests In Stenders

On October 24, 2013, private equity firm BaltCap invested in consumer products company Stenders

Investment Context

This is BaltCap’s 2nd transaction in the Consumer Products sector.
This is BaltCap’s 21st transaction in Latvia.

Investment Fate

Stenders was sold to a consortium of financial buyers in 2024.

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Investment Summary
Date	October 24, 2013
Target	Stenders
Sector	Consumer Products
Investor(s)	BaltCap
Deal Type	Growth Capital

Target Company

Stenders

Riga, Latvia

Stenders is a premium bath and body care company. The company products are made in Latvia using natural ingredients and include bath bombs, foams, and salts; body butter, creams, lotions, oils, scrubs, and yoghurts, as well as hand creams and lotions. Stenders was founded in 2001 and is based in Riga, Latvia.

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Investor Overview 1

Investor

BaltCap

Vilnius, Lithuania

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 Context for Investor	#
Overall	62 of 98
Sector: Consumer Products	2 of 2
Type: Growth Capital	13 of 21
Country: Latvia	21 of 26
Year: 2013	3 of 3

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2013-08-01	Quattromed HTI Laborid OÜ Tartu, Estonia Quattromed HTI Laborid OÜ operates as a medical laboratory. It provides clinical chemistry, hematology, cytology, immunology, molecular diagnostics, urine analysis, and microbiology testing services.	Sell	-

DATE

TARGET

DEAL TYPE

VALUE

2013-08-01

Quattromed HTI Laborid OÜ

Tartu, Estonia

Quattromed HTI Laborid OÜ operates as a medical laboratory. It provides clinical chemistry, hematology, cytology, immunology, molecular diagnostics, urine analysis, and microbiology testing services.

Sell

FOLLOWING DEAL

DATE	TARGET	DEAL TYPE	VALUE
2014-04-01	Ecoservice Vilnius, Lithuania Ecoservice is a waste management company in Lithuania engaged in the collection, transportation, and processing of secondary raw materials and household waste. Ecoservice was foremed in 1995 and is based in Vilnius, Lithuania.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2014-04-01

Ecoservice

Vilnius, Lithuania

Ecoservice is a waste management company in Lithuania engaged in the collection, transportation, and processing of secondary raw materials and household waste. Ecoservice was foremed in 1995 and is based in Vilnius, Lithuania.

Buy

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