Private equity fund BaltCap acquired 70% of Tallinn-based automation services provider Hansab

Baltic private equity fund BaltCap acquired a majority stake in Tallinn-based automation services provider Hansab. The amount of the deal is not disclosed. 

Hansab develops and supplies security, parcel handling, queuing, parking, cash handling, and point of sales to its B2B customers in logistics, finance, public, retail, and other sectors. For example, Hansab installed self-payment stations in KFC to enable cash payments, an electronic key management system at Riga's Tele2 office, its parking solution Entrigo at the logistic center Via 3L in Estonia, and many others. The company operates in Estonia, Latvia, Lithuania, and Finland with 18 offices and service points across the region. Hansab was founded by Aigar Urva in 1991.

With the acquisition, Hansab intends to accelerate its development, diversify its portfolio, and expand into new regions. The deal will be completed in the coming months in case of approval of the competition authorities in the Baltic countries and obtaining other required permissions related to the business. After that, Aigar Urva will move to the supervisory board, and CEO of Hansab Estonia Janno Kallikorm will become the new CEO of Hansab.

Founded in 1995, BaltCap focuses on buyout deals, growth, venture, and infrastructure investments. BaltCap invested in about 100 companies. In 2019, BaltCap and Japan Bank for International Cooperation (JBIC) IG Partners created a fund NordicNinja to invest in New Nordic startups.