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Published: 9 april 2021 07:10

Alwark Group attracts financial partners for ambitious development: 66% of shares will be acquired by KJK Fund III

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123RF.com nuotr. / Finance
Alwark Group announces that KJK Fund III (KJK) will acquire 66% of the Group’s shares. Alwark Group has been providing the services of sales, rental, and maintenance of material handling, warehouse, seaport, airport equipment, municipal machinery, and supply the spare parts. KJK comes as a financial partner of Alwark Group for the ambitious development and expansion in other markets.

“Alwark Group has ambitious development plans that would be difficult to implement without partners, and we are delighted to have found the right ones. Together with KJK, we intend to expand through new acquisitions in the Baltic States and the neighbouring region and provide new services. A new board will be formed with the participation of the current Alwark owners, who will manage the business together with KJK,“ says Gediminas Šimkus, the shareholder of the Alwark Group.

“We are delighted to take part in the next chapter of Alwark’ development. For more than ten years, Alwark Group has displayed a strong customer-centric approach servicing large to smaller customers with equal passion, dedication, and technical expertise. We look forward to working with Alwark’s management team and support their investment strategy to boost growth and broaden their product offering,” stated Kustaa Äimä, Managing partner at KJK.

The value of the transaction is not disclosed. Upon completing the transaction, Julius Urbanavičius will continue to work as CEO of ”Alwark” UAB, Gediminas Šimkus will work as Strategic Adviser on Group Development Matters. Law firm Walless acted as the legal advisor of Alwark Group in this transaction. Since 2016, the Group of companies has been audited by the international audit company PwC. KJK was advised by EY with financial and tax due diligence, and Cobalt was the legal advisor of KJK in this transaction.

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