RASK advises Bestair Group and Zave Group on raising the investment from Livonia Partners investment fund.
Case
Livonia Partners, a pan-Baltic private equity firm, has made
an investment in Bestair Group and Zave Group, which are leading providers of
green home climate solutions, operating in B2B and B2C segments in 8 different
countries. Today Bestair and Zave together generate annually more than €60
million in revenue. Livonia’s investment is designed to support continued
growth across the company’s geographies and business lines.
Karl Erik Esko,
co-head of financing at RASK, and Ramon Rask, partner, advised Bestair Group
and Zave Group and their owners in all parts of the transaction.
Bestair was founded in 2002 by Ivo and Jaan Kõpper in
Estonia. Together with the B2C online platforms Zave and Kliimamarket, Bestair
operates in B2B and B2C segments in Estonia, Latvia, Lithuania, Finland,
Sweden, Norway, Denmark and Poland.
Livonia Partners is a pan-Baltic private equity investment firm that is managing assets of EUR 230 million. The founding partners and managers of the firm are Kaido Veske, Kristīne Bērziņa, Rain Lõhmus, and Mindaugas Utkevičius. Fund investors are Baltic and Nordic pension funds, including Swedbank, the European Bank for Reconstruction and Development, the European Investment Fund (EIF) investing through the Baltic Innovation Fund 2 (an initiative created by cooperation between the Republic of Estonia, the Republic of Latvia, the Republic of Lithuania, and the EIF) and others.