BPM Mezzanine Fund II provided financing to a Latvian IT company Digital Mind AS for the buy-out of a leading Lithuanian business software implementor Alna.
BPM Mezzanine Fund II usaldusfond has provided financing for a Latvian IT company Digital Mind AS to execute the first step in its ambitious growth path for the coming years. Digital Mind is a market leader in its core field of operations – digitalization of business processes and has a diversified customer portfolio of local blue-chip companies and governmental authorities in Latvia, as well as in Estonia. The financing by BPM enabled Digital Mind to acquire Lithuanian business software implementation company Alna Business Solutions. Alna’s key focus is on the implementation of ERP software by Microsoft and SAP. It has developed proprietary software solutions as well. Similarly to Digital Mind, Alna has a very prominent customer base. Alna is active in the Lithuanian and Polish markets.
Commenting on the deal, Mr. Rinalds Sluckis
, CEO of Digital Mind, noted: “the buy-out of Alna was a logical step in Digital Mind’s ambitious growth strategy. This acquisition means that we can offer our clients a wider portfolio of services and at the same time utilize our joint resources more efficiently. We are very excited to see that we are now present in all Baltic markets as well as Poland and have a significantly wider product portfolio. I believe that consolidation in our market is inevitable and we are in a good position to drive this process forward.”
For BPM team, it marked the first transaction from its freshly closed second fund – BPM Mezzanine Fund II usaldusfond, which marks the continuation of the mezzanine strategy of the first fund. Martin Reinson
, Partner of BPM, said: “We are very happy to be able to back such an ambitious and experienced management team in its growth journey. It is an outstanding opportunity to invest in Baltic IT businesses with such a prominent customer base. We share the view of Digital Mind management team that there is definitely room for consolidation in this niche in the Baltics and are very excited to back them in this process.” For further inquiries, please contact:
BPM: Martin Reinson, e-mail: email@example.com
Digital Mind: Rinalds Sluckis, e-mail: firstname.lastname@example.org
More information about BPM
) is an independent investment manager operating out of two offices, in Tallinn and Warsaw. It has been founded and is managed by Kalmer Kikas, Martin Reinson, Paweł Zabrzycki and Priit Veering. BPM is supported by prominent international and domestic institutional investors. BPM was originated through the Baltic Innovation Fund 2 initiative created by cooperation between Estonia, Latvia, Lithuania and the European Investment Fund. More information about Digital Mind and Alna
Digital Mind (www.digitalmind.lv
) is a Latvian IT company focused on digitalization of business processes with a strong presence in the Latvian and Estonian markets. Alna (www.alna.lt
) is a Lithuanian IT company focused on the implementation of various ERP platforms with a strong presence in the Lithuanian and Polish markets.