TGS Baltic assisted LitCapital and Asgaard to sell shares of Baltik Vairas

01.07.2019 TGS Baltic assisted LitCapital and Asgaard to sell shares of Baltik Vairas

TGS Baltic advised private equity fund LitCapital and Danish investment company Asgaard A/S in selling 100% of shares in Baltic Bicycle Trade, a company controlling Baltik vairas, a bicycle manufacturer in Šiauliai.


LitCapital informed Verslo žinios that it was the fourth and most successful investment disposal transaction of the fund LitCapital I, which will be closed after obtaining clearance decisions from competition supervision authorities.

TGS Baltic Partner Aurimas Pauliukevičius advised the clients on all issues related to the sale of shares, drafted legal documents and represented the clients in the negotiations with the buyer of the shares—KJK Fund III S.C.A. SICAV-RAIF, a private equity fund managed by KJK Management.

LitCapital is an independent growth capital fund management company, managing a EUR 25 M size growth capital fund, LitCapital I KŪB, established under the JEREMIE initiative in cooperation with the European Investment Fund (EIF) in 2010. Currently LitCapital I KŪB has investments in NNL LT (logistics), UAB Altechna (technologies), UAB Eldes (technologies), and UAB Medicinos paslaugų grupė (medicine services).

Asgaard is actively developing several businesses in Lithuania. The company owns Nordic Food Republic, a company which manages the restaurant Nineteen18, bar Sofija and brasserie 14Horses, also a sustainable agricultural company, Farmers Circle. The company also owns Grafo Gallery, company Softra, it has also invested in business centres AsgaardsKeys and B Nordic 26, as well as in the former headquarters of Vilniaus vandenys (cold water supplier) in the capital city in Dominikonų Street.