Eco Baltia acquires 85% stake in Ecoservice group
Eco Baltia has bought 85% of the shares of Ecoservice. Eco Baltia is backed by INVL Baltic Sea Growth Fund, and the European Bank for Reconstruction and Development (EBRD). After this transaction, the annual revenues of Eco Baltia and Ecoservice are anticipated to reach EUR124 million (US$145.62 million) with an EBITDA of EUR24 million (US$28.18 million) for 2021. Financing for the transaction was provided by Luminor.
The Ecoservice group consists of several companies operating in sectors including household waste management, recycling and construction waste collection as well as other environmental services.
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