Livonia Partners acquired architectural glass processor Klaasimeister

The founders and ultimate shareholders, Heiki Zupping and Tarmo Jullinen, have sold their shareholding in the leading architectural glass processor Klaasimeister AS to pan-Baltic private equity firm Livonia Partners.

Klaasimeister is a leading float and specialty glass processor specializing in providing insulated glass units and other glass products to complex facade projects. The company was established in 1997 and today operates a modern state-of-the-art production facility 30 km from Tallinn, Estonia.

Klaasimeister currently employs close to 100 people, generates around EUR 15 million of revenue and is highly profitable. Throughout its history Klaasimeister has successfully serviced customers across Scandinavia and completed some of the most marquee projects such as Oslo airport, Victoria Tower in Stockholm, Helsinki Central Library Oodi among others.

“Klaasimeister has enjoyed substantial growth and consistent profitability over a long period of time. Supporting such well-run internationally focused Baltic companies has become the handwriting for Livonia. Founders of the company have done an excellent job in building a great business. It is now our turn to help Klaasimeister reach next stages in its development” said Kaido Veske, a founding partner of Livonia Partners.

Nordic CF Advisory advised the sellers and conducted the process in selling the full shareholding to pan-Baltic private equity fund Livonia Partners. Nordic CF Advisory is an independent Estonian M&A advisory, boutique mostly focused on sell-side engagements. Nordic CF Advisory is part of Socius Corporate Finance, an international partnership of M&A boutiques.

Klaasimeister is an Estonian glass processor, operating from a manufacturing facility in Kolu Village, Harju County, Estonia. Klaasimeister is focused on producing energy efficient insulated glass units for complex facade projects. Main processing capabilities include glass cutting, CNC processing, heat treatment, laminating, silk-printing, roller-coating and assembling of insulated glass units. 

Livonia Partners is a private equity investment fund based in the Baltics, currently managing the Livonia Partners Fund I and the Livonia Partners EIF Co-Investment Fund. Livonia Partners was partly originated through the Baltic Innovation Fund (BIF), a common initiative of Estonia, Latvia, Lithuania and the European Investment Fund.

Source: Livonia Partners