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Deal 5: Alwark Member of the Board Gediminas Simkus on Sale of 66% of Shares

Lithuania
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On April 13, 2021, CEE Legal Matters reported that the Vilnius office of Walless had advised the founders of the Alwark Group on the sale of 66% of their shares in the company to the KJK Fund III. CEE In-House Matters spoke with Gediminas Simkus, Member of the Board of the Alwark Group, to learn more about the sale.

CEEIHM: Tell us a bit about Alwark?

Gediminas: For more than ten years we have been providing the services of sales, rental, and maintenance of new and used material handling, warehouse, seaport, airport equipment, municipal machinery, and supplying the spare parts.

We operate in all Baltic states – Lithuania, Latvia, and Estonia. We maintain over 3.500 industrial equipment units in the region.

Our business procedures are very flexible, we pay equal attention to servicing large enterprises and doing successful business with smaller customers. Striving for a long term partnership, the company gives advice in choosing the most cost-effective technical solution and provides maintenance for the equipment purchased or leased. Our clients include seaports, airports, freight terminals, and companies providing industrial, logistics, and municipal services.

We take great care and responsibility in offering only high-quality brand products. We represent leading manufacturers such as: Linde, Terberg, Konecranes Lift Trucks, Mantsinen, Johnston Sweepers, Moro Kaiser, RASCO, Overaasen.

CEEIHM: The KJK Fund III recently acquired 66% of the shares in the Alwark Group from its founders. What were the reasons behind the sale?

Gediminas: As founders, we see nice growth opportunities for the company, however it would be hard to achieve them without additional investment.

CEEIHM: What is the plan for Alwark following KJK Fund III's investment.

Gediminas: We have ambitious an growth plan (targeting EUR 95 million in 2025) both organic and with help of new acquisitions in the Baltics and neighboring countries. There‘s a new board already in place where the founders have 2 chairs and KJK has 3. All board members are determined and motivated to work together and lead the company into its new development stage.

CEEIHM: Walless advised your company’s founders on the sale. What was the firm’s mandate on the deal?

Gediminas: Walless was fully involved in this process, leading us through all of it, including deal structure advice, data room, tax, TS to SPA, and closing procedures.

CEEIHM: Why did you choose Walless as your advisor?

Gediminas: We had some experience with Dovile Burgiene already in the past. Taking into account our own experience as well as the recommendations from the market, Walless easily became our top choice.

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