TGS Baltic advised LitCapital in the acquisition of Audimas’ stake

21.08.2018 TGS Baltic advised LitCapital in the acquisition of Audimas’ stake

TGS Baltic Associate Partner Aurimas Pauliukevičius has advised the client on all transaction-related issues from the conclusion of a letter of intent to the successful closing of the acquisition.

In addition, TGS Baltic has advised the client on entering into the shareholders’ agreement with the largest remaining shareholders of Audimas, financing and securitization of financing required for the transaction, as well as in obtaining a clearance from the Lithuanian Competition Council.

After the sale of the stake, Audimas plans to invest in the development of the company. Audimas, the largest manufacturer of active leisure and sports clothing in Lithuania, has been operating for over 80 years. For decades Audimas has been the main supply partner of team-wear for Lithuanian and other countries’ Olympic teams. The company operates 14 retail stores in Lithuania and Latvia. In 2017, the company’s revenue reached EUR 25.8 million with EBT of EUR 1.9 million. This year the company expects EUR 27.5 million revenue.

LitCapital manages private equity funds and alternative investment structures that invest in companies in Lithuania. Operating since 2004, LitCapital has invested in companies such as Baltik vairas, Endemik (Medicinos paslaugų grupė), Putokšnis, Brolis semiconductors, Eldes, Altechna and others.