Novaturas, the largest tour operator in the Baltic States, successfully closed the transaction valued at over 138,000,000 LTL (40,000,000 EUR). The controlling stake in the company was acquired by one of the leading and most experienced private equity firms in Central and Eastern Europe “Enterprise Investors”. This is the largest M&A transaction in Lithuanian service industry during the last 7 years (excluding retail, banking and telecommunication sectors). The buyer will finance transaction with equity and a bank loan. 

In this transaction Prime Investment, an investment banking boutique, acted as the exclusive strategic and financial advisor to Novaturas shareholders. Prime Investment designed and implemented share sale strategy, prepared detailed and attractive information to potential investors, organised the data room, structured the transaction, coordinated negotiations process and represented shareholders’ interests.

Novaturas is the leading tour operator in the Baltic States with outstanding management team, high quality service and a strong brand. Success story of Novaturas growth, attractive expansion opportunities into new markets and professionally run international tender generated huge interest among potential financial and strategic investors that lasted till the transaction was finally closed. 
Novaturas also owns 4 tour operators: SIA “Novatours” (Latvia), OU “Novatours” (Estonia), UAB “Aviaturas ir partneriai” and UAB “Excursus” (Lithuania). It is planned that 150 thousand clients will use Novaturas services by the end of 2007 and consolidated sales will exceed 320 million Litas. 

Enterprise Investors is the oldest and the largest private equity group in Central and Eastern Europe. It manages six funds with the total value of 1.6 billion Euro. The group invested more than 1 billion Euro into 106 companies since its establishment in 1990. The acquisition of Novaturas is the first investment by Enterprise Investors in the Baltic States.

Prime Investment, established in 1997, is one of the most experienced independent investment banking firms in the Baltic region and Belarus. The firm delivers high quality advice to company owners, top-level managers and investors, helping them to build and realize their business and investment value by assisting them in undertaking mergers and acquisitions, raising capital and acting as their strategic advisors.

For more information please contact:

Ms Viktorija Trimbel, Prime Investment, Director General +370 687 51707