INVL Baltic Sea Growth Fund, the leading private equity fund in the Baltics, has signed an agreement to acquire shares in Pehart Group, a leading producer of household and industrial paper products and owner of the oldest paper factory in Romania.
The transaction with Abris Capital Partners is expected to be completed in the first quarter of 2025.
According to Vytautas Plunksnis, Partner at INVL Baltic Sea Growth Fund, “Partnership has always been central to our philosophy, and we’re thrilled at the prospect of collaborating with the Pehart Group’s management team. Upon successful completion of the transaction, Pehart Group will become the tenth portfolio investment of INVL Baltic Sea Growth Fund, marking a significant milestone in completing the fund’s portfolio”.
With a size of €165 million, INVL Baltic Sea Growth Fund is the leading private equity fund in the Baltics. Its anchor investor is the European Investment Fund (EIF).
Today, Pehart Group is one of the largest tissue paper producers in South-East Europe, present with its household and industrial products in 19 countries. In 2023, Pehart Group generated revenues of €168 million and employed nearly 550 people across its companies.
Abris Capital Partners is a leading independent private equity fund focusing on mid-market opportunities in Central European countries.
In this transaction, INVL Baltic Sea Growth Fund was advised by TGS Baltic lawyers Marius Matonis and Rūta Tikuišytė.
