BaltCap Exits Laundry Service Provider

Baltic State private equity investor BaltCap has sold its minority stake in Tallinna Pesumaja, an Estonian textile rental and laundry service providers. The company was purchased by local private investors and the transaction amount is not disclosed. Baltic SME Fund, an investment fund advised by BaltCap, provided expansion capital to the company in 2006.

PRESS RELEASE

BaltCap, the leading private equity investor in the Baltic States, sold its significant minority ownership stake in Tallinna Pesumaja, one of the leading textile rental and laundry service providers in Estonia. The company was purchased by local private investors and transaction amount is not disclosed.
Baltic SME Fund (“SME Fund”), an investment fund advised by BaltCap, provided expansion capital to Tallinna Pesumaja in 2006. The investment was used for relocating the production to a new modern laundry facility in Kohila, a small town near the capital of Estonia, and for developing textile rental business. During the period of BaltCap’s involvement the company grew significantly in size by signing up several imporant customers in Estonia and Finland.
Tallinna Pesumaja is an industrial laundry house offering laundry and textile rental services to the hotels, hospitals and restaurants. The company started its operations in year 2000 and it is offering a complete door-to-door service to its customers.
Quality assurance and environmental sustainability are very important for Tallinna Pesumaja. The company is committed to professional and consistent business operations and was issued of ISO 9001:2008 and ISO 14001:2004 certificates in April 2011.