KJK Sports, which is backed by KJK Management SA, said July 1 that it agreed to buy Baltic Bicycle Trade UAB, the parent company of Baltik Vairas. Financial terms weren’t announced. Asgaard A/S and Litcapital I were the sellers. Bailtik Vairas, of Šiauliai, Lithuania, is a bike manufacturer.
UXEMBOURG, July 1, 2019 /PRNewswire/ — KJK Fund III S.C.A. SICAV-RAIF, as advised by KJK Management SA, and acting through its wholly-owned Luxembourg-based sporting goods investment company, KJK Sports (all together “KJK“), is pleased to announce that it has signed a definitive agreement with Asgaard A/S from Denmark and Litcapital I from Lithuania for the purchase of 100% of the shares of Baltic Bicycle Trade UAB, the parent company of Baltik Vairas based in Šiauliai, Lithuania. COBALT Law Firm and EY, both based in Vilnius, acted as legal and financial advisors for KJK. TGS Baltic and Swedbank Investment Banking, both based in Vilnius, acted as legal and financial advisors for the Sellers. The transaction is expected to close in the third quarter of 2019, pending competition clearance.
ABOUT KJK. KJK Fund III S.C.A. SICAV-RAIF, launched in 2018, is a EUR 250 million private equity fund focused on the Balkan and Baltic regions. KJK Management SA is a Luxembourg-based Alternative Investment Fund Manager founded in 2010. For more information about KJK Management, please visit www.kjkmanagement.com. KJK Sports is a Luxembourg-based sporting goods holding company focused on the active outdoor sporting goods segment with existing investments in Elan d.o.o. (winter sports and sailing), Tahe Outdoors (water sports) and Leader 96 (bicycles).
SOURCE KJK Sports