Rolandas Barysas, Verslo žinios editor in chief
Laimonas Skibarka, Co-Managing Partner at Sorainen Lithuania
Since its launch in 2010, the Baltic M&A and Private Equity Forum has developed an excellent reputation among private equity and venture capital funds, investment bankers, lawyers, other advisers, company managers and shareholders, gathering 200+ participants each year. The Forum offers a platform for establishing new contacts, finding new business opportunities, sharing experience, and spending time with peers.
Forum will focus on the following key topics:
In addition, the Forum will also feature the Baltic M&A and Private Equity Awards and multiple networking opportunities.
Tomasz Czechowicz - Managing Partner, Founder at MCI Capital, one of the leading European private equity groups with focus on technology and digitalization. Managed funds, with assets under management at USD 600 M, have portfolio companies across Europe. Currently, 50% of companies are outside of its origin market.
Normunds Staņēvičs is the Chairman of the Board of the leading dairy producer and the biggest food producer in Latvia – Rīgas piena kombināts, JSC. Rīgas piena kombināts together with Latvia based dairy producers Valmieras Piens and Rīgas piensaimnieks, Estonia based ice cream producer Premia, Denmark’s ice cream producer Premier Is, Norway’s ice cream producer Isbjorn Is and Romania’s ice cream producer Alpin57Lux is merged under Food Union Europe.
Staņēvičs is also CFO at Food Union Europe.
Food Union is a global dairy player focusing on delivering branded consumer goods and developing tailor made solutions in fresh dairy and ice cream categories. The group holds good positions in each of these categories, but is definitely leading the ice cream category in the Baltic States. Food Union aims to champion the Baltics in both dairy and ice cream categories.
Prior to joining Food Union in 2013, Normunds Staņēvičs managed the change process in the publishing house Diena JSC as Chairman of the Board. Before that Staņēvičs worked three years as Financial Director at oil transshipment company Ventspils nafta JSC and 6 years in Corporate Finance at Deloitte.
Sebastian Król is partner of Enterprise Investors and is responsible for investments in the Baltic States.
Sebastian Król concentrates on the financial services, food retail and construction services sectors. His most important investments at EI include those in Danwood, Magellan, Profi, Skarbiec Holding and X-Trade Brokers.
Before joining EI, Sebastian worked for Arthur Andersen and Hachette Distribution Services.
Tamas Szalai, CEE Equity Advisor Investment Director, regional private equity investor
Graduate of the Budapest University of Economy (1991), Master of Science in Finance, University of Illinois, USA (1996).
Started his carrier as a journalist at the business daily, Napi Gazdasag and the weekly HVG. Later joined the leading local securities and asset management company, Concorde Securities Ltd as the head of the equity research team. Since 2000, as private equity professional, invested over 460 million euros in various Central Eastern European targets, among others, in auto parts, food service, media and telecommunications companies. Has been acting as board member and chairman of board at various companies. Joined CEE Equity in the summer of 2014. Prior he was managing partner of the Eastern European focused Virgin Green Fund for two years, before that partner of the Eastern European focused Bancroft Private Equity for 12 years.
Klaus Konrad have master in Electrical Engineering and MBA, gained PhD in Software Development. Worked at Allianz Asset Management as Investment Manager, Daimler Chrysler as SW Consultant. Beside his 13 years carrier at Intel Capital as Investment Director he took part in 11 successful exits including iMall M&A by Naspers, Joulex M&A by Cisco, Suse M&A by Novell, Click&Buy M&A by Deutsche Telecom. Since 2012, Klaus was part of the Intel European Leadership Circle.
Bjorn Tremmerie is Head of the ICT and Business Angel Investments division at the EIF, which he joined in 2002. He leads the EUR 3.2bn ERP-EIF Dachfonds programme that EIF is implementing on behalf of the German Ministry of Economic Affairs and Energy (BMWi), an initiative dedicated to the German VC market.
He also oversees the European Angel Fund co-investment programme, the Dutch Venture Initiative fund-of-funds where he is an investment committee member, and the LfA-EIF Facility, a EUR 150m fund-of-funds for the Bavarian region. His team invests and monitors investments in venture capital funds in Europe as well as manages co-investments alongside business angels. Their portfolio includes some 150 European VC funds. Before joining EIF, Bjorn used to work for a globally active VC fund. He started his career at ING in investment banking.
2017 – to date Member of the Board of Compensa VIG, Vilnius
2016 – to date Member of the Board of Interrisk VIG, Riga
2014-2015 Head of Enterprise/Asset Risk Management Kooperativa/CPP VIG, Prague
2011-2013 Executive Assistant to the CEO, Vienna
2006-2010 Investor Relations Manager, Vienna
2006 joined Vienna Insurance Group
Insights about the links between the value added creation and M&A performance in the Baltics.
Value added (VA) creation is the additional value that is generated by the business with the acquired materials and services. The VA index is based on effective and sustainable generation of VA and how VA is shared with employees. On the broader scale higher VA is driving the welfare of the countries.
The VA study covering Lithuania only was used to determine the VZ Lithuanian Business of the Year in June 2017. The new EY study covers the Baltics and now is combined with the M&A agenda and will try to answer if the Baltic companies with the highest VA have been active buyers and / or sellers in the past and can be expected to be in the future. The EY experts analysed close to 2000 companies in the Baltics aiming to determine differences and similarities between the Baltic companies in 9 industries (finance, services, technologies, energy, manufacturing, construction and RE, trade, agribusiness and transport) and their peers in the EU28.
Using the combination of different data sources and having tested a number of different hypotheses, the EY experts concluded that companies who create more VA and more generously share it with their employees are prone to be more successful / profitable, agile to changes, enjoy better efficiency / productivity and have more loyal / motivated employees. Moreover, they are also more likely to be more active and attractive M&A participants and be one of the driving forces of the future deal flow in the Baltics.
Jonas is the Chairman of the Management Board of Magnetic MRO, a Total Technical Care organization headquartered in Tallinn, Estonia.
Jonas started his professional career in Management Consulting industry, delivering high-value strategy implementation projects for Fortune 500 companies in Australia, Asia, Europe, and United States.
Jonas has a successful track record of developing aviation companies, as well as an extensive experience in strategy implementation projects across a number of countries and industries.
In 2009, Jonas became CEO of FL Technics and led the company through 5 years of rapid changes and business development. In July 2014 Jonas was hired as the CEO of Magnetic MRO, with the goal to develop the company into a global provider of integrated Total Technical Care MRO solutions. Jonas also serves as a Board member of Lithuania Post, and a few other businesses.
Ms. Kaia Kivistik – Head of Finance at Olympic Entertainment Group (OEG), which is the leading provider of gaming services in the Baltic States and operates casinos in Slovakia, Malta and Italy. In recent years OEG has carried out several acquisitions in its markets, as well completed the sale of the newly built hotel property in Tallinn.
Simonas Gustainis is a partner with the largest Baltic private equity fund manager. BaltCap have done more than 70 investments, of which 40 are already exited. BaltCap currently has EUR 300 million of assets under management, with the total revenue of the portfolio companies exceeding EUR 500 million.
Currently Simonas is also involved the Baltic VCA - a project seeking to strengthen the co-operation among the local venture capital associations.
Gediminas Kvietkauskas is the CEO and one of the founders of the East West Agro (EWA) company.
For Gediminas, business is a creative process, continuous improvisation, chess and poker match at one time.
Gediminas has been in business since 2006, when EWA was established. A decade of successful management, important and timely decisions, market expertise and teamwork has grown a small company into an agricultural equipment leader in Lithuania. This year, EWA took another step in its quality business by successfully completing its IPO and attracting 3 million euros in capital for local and Baltic expansion.
Gediminas can name all the best-known agricultural equipment manufacturers in the world without stopping. He knows some of them very well, as the company he leads sells the products of more than 18 European agricultural manufacturers.
He is a graduate of Aleksandras Stulginskis University (ASU) and a member of the ASU business advisory board. Every year, Gediminas delivers lectures on business management, marketing and the agricultural market at universities and conferences. He has received Verslo Gazelė award by national business daily Verslo žinios, the Business Partner of the Year award from ASU, and the Kaunas regional municipality’s award for Business development in the Kaunas region in 2015. Last year, Gediminas also received the international AGCO corporation’s acknowledgement for exceptional business achievements while representing Massey Ferguson equipment in Europe.
Having graduated with a Master of Laws degree from Vilnius University, the Faculty of Law, in 1998, Mr Keserauskas continued his studies at King’s College London in the United Kingdom where he obtained an LL.M. degree in European Law in 2003 and a PhD in Law in 2010.
In 1998 Mr Keserauskas started lecturing at Vilnius University, in the Faculty of Law, where since 2005 he has been giving lectures on Competition Law. Mr Keserauskas was a visiting Competition Law lecturer at Riga Graduate School of Law (Latvia) from 2000 to 2005.
From 1998 to 2009, in addition to his work as a lecturer at Vilnius University, Mr Keserauskas was an associate and then a Competition Law Adviser at the law firm Lideika, Petrauskas, Valiūnas ir partneriai LAWIN.
Mr Kesearuskas is often invited as a guest speaker to local and international competition events.
Külliki Lugenberg works as an adviser of the control of concentrations at the Estonian Competition Authority since 2007, having the experience of extensive and complicated proceedings. Prior working at the field of concentrations she has dealt with competition supervision at the Competition Authority since 1998.
Ms Lugenberg has graduated from Tallinn University of Technology, majoring in Business Administration. Currently she is in the process of obtaining Master´s degree in European Studies at the University of Tartu.
Külliki is actively involved in the EU Merger Working Group and has contributed to numerous foreign aid projects in Moldova, Georgia and Albania.
Dr. Daivis Švirinas is a partner and head of the Sorainen Competition and Regulatory Team in Lithuania.
With a master’s degree in both law and economics, Daivis Švirinas has executed many complex projects, representing Lithuanian and international companies operating in different business sectors, such as wholesale and retail, consumer goods, energy, pharmacy and real estate. He has authored many articles, books and publications in the area of Competition law and has represented clients in well-known, high-profile competition law cases.
Independent international legal directory Chambers Europe recognises him as one of the top four competition law experts in Lithuania.
Gunta Lokastova has worked for the Competition Council of Latvia for the past five years, starting as an expert in the Analytical department in 2012. Currently she is working as a Deputy Head of Legal department, specializing on merger and abuse of dominance cases. She is also an active member of the ECN Merger working group. Prior joining the Competition Council of Latvia, Gunta Lokastova worked in a private sector at a sworn attorney office.
Gunta Lokastova has obtained a Master’s degree in International Business Law from Tilburg University (the Netherlands) in 2012 within a track specializing on EU Competition law. She also hold a professional Master’s degree in International and EU law with lawyers qualification from Riga Graduate School of Law in 2015.
Andres Agasild is Co-Founder and CEO of IT-company Markit, one of the leading B2B IT e-commerce companies in Europe. Agasild and his colleagues founded Markit in 2003, with the idea of providing companies with a service that would enable direct purchasing of IT products from distributors.
Today, the company operates in 28 European countries and the United States, its clients including Western Union, Johnson & Johnson, Deloitte, ABB, Spotify, Radisson Hotels, Monier, Michelin, TransferWise. Markit revenue growth for more than ten years has been on average +22% every year and +34% annually since foundation in 2003. In 2016 the company posted the annual revenue of EUR 79m, which represents +24% annual growth. With more than 138 000 orders and almost 1 million products delivered every year, the company seeks to reach EUR 100m in revenues by 2018.
In 2016, Markit acquired the majority shares of Norwegian competitor ePartner, while Agasild and his colleagues also made an MBO in the same year.
Before Markit was established, Andres Agasild worked for the IT-company Helmes (which to this date owns 40% of Markit shares). Having started as a sales rep in 1996, he developed through a number of positions to Partner and Board Member.
In his free time, Agasild plays football and writes poems, and his poems have become song lyrics for several well-known performers.
Magnus Toftgård is a senior associate in JLT’s Northern Europe M&A team based in Stockholm, Sweden, and focusing on M&A insurances such as warranty and indemnity, tax liability, litigation buyout/cap and other contingent liability matters.
Magnus joined JLT in 2015 after spending more than 7 years working as an M&A lawyer at Stockholm-based law firm Törngren Magnell and as a corporate counsel at Husqvarna Group. Magnus holds a Master of Laws Degree from Stockholm University and a Master in Commercial and Tax Law Degree from Jönköping International Business School University.
He started his career in London and New York working for investment bank Bear Stearns. Later he spent 3 years with Irving Place Capital in New York, focusing mainly on packaging, manufacturing, and consumer companies. At Livonia, Kaido looks after the Ha Serv investment. He holds a Bachelor of Science in Economics from The Wharton School, University of Pennsylvania, and an MBA from INSEAD.
Salvis Lapiņš has been with Olainfarm for more than 11 years, and initially majority of his activities were related to all sorts of financial relations, including with bankers, shareholders and investors. Since the company started to turn into a group in 2011, M&A activities started to make up an increasing part of Salvis average workday as he has been involved in successful acquisition of more than 20 companies, and participated in several M&A projects, that never materialized. M&A activities that he has been directly involved include identification, approaching, negotiations, due diligences, financing etc. Size of the targets vary from companies with sales of about EUR 100 000 to largest ones with sales approaching 10 million euro.
Salvis is also a corporate governance enthusiast.
Benas Poderis, head of investment fund centre at Orion Asset Management (OAM), fund manager of ORION alternative energy fund, member of the board at Lithuanian investment managers association, member of the investment committees of other investment funds managed by OAM. In the recent years Benas made a part in the set up of more than 10 alternative investment funds from real estate to venture capital and participated in the teams working with all major investment and exit transactions of investment funds managed by OAM.
Anton is a partner at Primus, Attorneys at Law, in Tallinn. Before establishing Primus, Anton worked as general counsel for Alta Capital Partners, a Baltic private equity firm. During his career, Anton represented clients in some of the largest and most complex transactions in the Baltics, including outbound investments such as Alta’s acquisition of Mieszko, a Polish confectionary firm, Milavitsa, the Belorussian manufacturer of lingerie, and others. Anton was responsible for leading the legal teams on the successful IPOs of Olympic Entertainment Group, Silvano Fashion Group, and recently worked on the IPO of LHV Bank in Estonia.
For the past five years, Anton focused mostly on dispute resolution with a particular focus on arbitration, representing clients such as the Estonian Government in the investment arbitration against United Utilities over water tariffs in Tallinn. Alongside disputes, he also continues working in M&A, including transactions such as the surprise acquisition of Starman by its minority shareholders and the subsequent sale of its Estonian business to Elisa earlier this year, as well as the acquisition of the Felina Group by Lauma International.
Rolandas Barysas, Verslo žinios editor in chief
Laimonas Skibarka, Co-Managing Partner at Sorainen Lithuania