Exited Investments

Medicinos Paslaugų Grupė (MPG)  consists of four medical service companies with strong market position in vaccination, laboratory test, radiology examination and secondary level doctor consultation service segments. MPG clinics operate in seven largest cities in Lithuania. The company employs 180 professionals. It is planned that MPG will achieve the consolidated turnover of EUR 4M in 2016.

Brolis Semiconductors UAB is a high-tech company, headquartered in Vilnius. It operates in the semiconductor technologies industry for electronics and optoelectronics and specializes in the design and development of long-wavelength mid-infrared laser diodes and molecular beam epitaxy technology. Company's products and services are applied in R&D, materials processing, sensors (e.g. for surveillance, automotive, oil & gas industries), medical treatment and other sectors. The Fund has made partial exit from the company in the summer 2015 when Brolis Semiconductors attracted additional investment from established Lithuanian laser system manufacturers Light Conversion and Eksma. The investment will be used to grow business internationally and further develop diode lasers and diode laser based component technology.

Lignoterma UAB is a bioenergy generation company. Lignoterma started its first investment project in 2011 - construction of a 35 MW biomass thermo power plant. Lignoterma is supplying heat to one of the largest industrial companies in Panevėžys - AB Amilina. Total project value is more than EUR 15 M. All energy is generated from the renewable energy sources. It is expected that the know-how of this project will be applied in the development of other similar bioenergy generation projects depending on the needs of Lithuanian industrial companies. Lignoterma is one of the largest biomass thermo power plants in Lithuania. In addition to that, there is a number of technological innovations implemented in the power plant. For instance, it can use variuos inputs and produce hot water, steam and hot oil simultaneously.  Lignoterma shares were acquired by AB  Amilina controlled by Roquette Freres and Mr. Danas Tvarijonavičius in July 2016.

UAB Putokšnis is one of the biggest manufacturers of PET packaging in the Baltic States and Scandinavia region. Established in 1994,  PET pre-form and a PET bottle factory in Lithuania.  The company produces up to 40 thousand tons of PET packages a year. 90% of the production is exported and sold to beverage production companies mainly based in Germany, Nordics and Poland. PET packaging is completely recyclable and in terms of recycling volumes PET products exceed other packaging kinds. LitCapital has invested in Putoksnis in June 2011 and became a significant minority shareholder. Backing by the fund allowed the company to sign a number long term contracts with largest international beverage manufacturers and significantly strengthen its market position in Nordic Countries and Germany. From 2011 till 2016 the company invested more than EUR 4M in total into its operations. According to the unaudited data Putoksnis has reached sales of EUR 35M and EBITDA of EUR 2.6 M in 2015. Company's EBITDA has increased threefold since 2011. The investment was realized in January 2016.

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UAB The Book operating under the brand name United Agencies is the holding company of a leading local integrated communication agencies group. The group includes one of the biggest Lithuanian PR agencies VRP + Hill& Knowlton (Viešųjų ryšių partneriai UAB), a creative advertising enterprise Box Agency UAB, an interactive communication consulting agency The Chocolate (Artium Magister UAB), a BTL marketing company Experiential Communications UAB, an event organizing company Small talk ideas UAB and a communications software development agency StudioV4. A wide scope of diverse know-how and experience in various communication and marketing areas allows companies to offer complex integrated communication solutions aimed to meet strategic goals and needs of their clients.