FlyCap Private Debt Fund III AIF provides financing to JSC Smiltenes Piens
- 4 hours ago
- 1 min read
This week, a transaction was completed whereby JSC Smiltenes Piens, strengthening its competitiveness in the Baltic and European markets, acquired a 99.949% stake in JSC Cesvaines Piens.
As part of the transaction, the Private debt fund managed by FlyCap provided financing for development and additional working capital.
FlyCap Partner Jānis Liepiņš comments:
“Consolidation in the dairy processing industry across the Baltics is ongoing, and in such an environment, flexible financing becomes particularly important for business development. FlyCap’s financing will support Smiltenes Piens in strengthening its market position and capturing growth opportunities. We see a strong management team and a solid foundation for further development. FlyCap manages a €50 million private debt fund aimed at financing business growth and consolidation in the Baltics, and we invite other companies seeking financing for development or transaction execution to reach out to FlyCap.”
FlyCap Private Debt Fund III AIF is supported by ALTUM and co-financed by the European Union through the European Regional Development Fund (ERDF) under Latvia’s National Development Plan. The fund has also attracted investments from several Baltic pension funds.
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