Lithuanian leading refrigeration equipment distributor was sold to Monilaite-Thomeko
Rolvika UAB, a Lithuanian company active in design and installation of refrigeration equipment divested to the Finnish Monilaite-Thomeko.
|Venture Capital Fund Gild Arbitrage (insolvent)|
Keystone Advisers advised the shareholders of Lithuanian Rolvika group in the process of divesting the business to a Finnish company Monilaite-Thomeko. The transaction was completed on December 1st, 2014. Rolvika group will be integrated alongside already existing Monilaite-Thomeko operations in Baltics.
Rolvika group consists of Rolvika UAB, company active in design and installation of refrigeration equipment for commercial, industrial and public catering companies in Lithuania, Latvia and Belarus and Robiga UAB, manufacturer of stainless steel furniture. The consolidated revenue of the group was €12 million in 2013 with 200 people employed.
Monilaite-Thomeko is a leading importer and wholesale company active in equipment, material, appliances and accessories for the food retail, fast food and restaurant areas. The family owned company is present in Finland, Russia, Estonia, Latvia, Lithuania, Belarus and China. Total Monilaite-Thomeko turnover after this transaction will reach €45 million, 60% of which is generated in Baltics. The group will employ more than 400 employees. For more information please read transaction announcement by Monilaite-Thomeko.
The price of the transaction is not disclosed. Team of Keystone Advisers acted as exclusive financial adviser to the sellers. For more information please contact Mr Karolis Rūkas:
Monilaite-Thomeko acquires Rolvika
Monilaite-Thomeko Group has as of today acquired 100 % of Rolvika UAB´s shares. Rolvika is one of the leading refrigeration design and construction company in the Baltic countries. Rolvika´s subsidiary, Robiga UAB, is well known stainless-steel furniture manufacturer in the region.
The acquired companies are active in Lithuania, Latvia and Belarus. The acquisition will increase our market share as regards technical equipment, refrigeration and service for the retail and food industry sectors.
– We will complement each other perfectly and strengthen both equipment sales and service.
Rolvika and Robiga employ 200 people. Sales for 2014 is estimated to be 13 million EUR. Rolvika has subsidiaries in Latvia and Belarus. Rolvika´s refrigeration know how and Robiga’s stainless-steel furniture production is an opportunity and we will be able to provide more flexible and high quality solutions to all our customers. Monilaite-Thomeko Group will employ 400 persons and the sales will reach 45 million EUR.
– The customer of Rolvika´s as well as ours are the leading retail stores and food industry companies in the region.
The acquired companies will for the time being continue as independent subsidiary companies. The acquisition will not have any immediate effect on the number of employees.
Fred Ramberg will take position as chairman of the board of Rolvika and other members will consist of Jerker Molander and Rolvika`s current CEO Nedas Karklius.
For more information:
Fred Ramberg, CEO, Monilaite-Thomeko Group Oy
Tel. +358 500 460 944, email@example.com
Monilaite-Thomeko was founded in 1923. The company is specialized in supplying technical solutions, material and aftersales services to the daily consumer goods sector. It operates in Finland, Lithuania, Latvia, Estonia, Belarus and Russia. Main customers are food retail chains, fast food restaurant chains and food industry.