Primekss Group

Region: Latvija

Investors: BaltCap

Private equity transformed Latvian concrete floor specialist Primekss into a company that now serves 12 countries across the globe. After investing in Primekss in 2010, BaltCap supported the company’s expansion internationally and helped develop a new stream of business through licencing its innovative and patented products across the US, Belgium, South Africa, Belarus and Russia.

With BaltCap’s help, Primekss has become one of the leading concrete contractors in Scandinavia, Israel and the Baltic States and has seen revenues almost triple to €23m between 2010 and 2013. With Primekss positioned to expand licencing and sales further, BaltCap sold the business to Germany’s Wermuth Asset Management in January 2014.

Janis Oslejs

CEO - Primekss

With BaltCap’s investment and active participation in Primekss, the company grew into a truly global business with growing customer numbers. BaltCap enabled Primekss to commercialise the licencing business model that formed the cornerstone for global growth.

countries selling Primekss products

increase in sales over three years, to €23m

What did the business need?

Investment in sales and marketing
Capital to develop technology and project management IT
Support to establish institutional corporate governance
Help to grow internationally

How did private equity backing create lasting value?

Strengthened the operational management team to drive international growth.
Recruited new CFO and sales personnel
Streamlined company processes and improved efficiency
Devised and launched new technology licencing business model
Provided essential contacts to support international expansion, including Ministry of Foreign Affairs, embassies, legal advisers