BPM Mezzanine Fund provided financing for the acquisition of DenEesti, leading provider of shore services to cruise ships in Tallinn

19 March 2018

The Managing Director of DenEesti OÜ ("DenEesti"), Mr. Ryan Jenkins, has acquired 100% of the company, backed by BPM Mezzanine Fund, for which it was the seventh transaction in the Baltics.

DenEesti is the leading provider of shore services to cruise ships in Tallinn, with an impeccable reputation and long-standing relationships with its key clients – major global cruise companies. During its nearly 20 years of operations, DenEesti has grown to be the largest cruise shore excursion operator in Tallinn in terms of ship calls handled per year. While Tallinn and St. Petersburg are the largest destinations operated by DenEesti, it can also offer services in Saaremaa, Pärnu, Riga and Klaipeda. 

The Managing Director of DenEesti, Mr. Ryan Jenkins, commented: ”this transaction is a natural step in the development of the company and will provide a smooth transition going into the future. Our aim is to continue providing our clients with the highest level of service and to offer a fantastic experience to cruise passengers visiting the southern shore of the Baltic.”  

“We value highly the opportunity to back Mr. Ryan Jenkins in this transaction and support the development of a market leader in its niche. We see that clients deeply appreciate the service offering of DenEesti and the company is well-positioned to capture future growth in the cruise industry”, said Martin Reinson, Partner of BPM Capital.

For further enquiries, please contact:

BPM: Martin Reinson, tel: +372 605 0072 e-mail: martin.reinson@bpmcapital.eu
DenEesti: Ryan Jenkins, tel: +372 5340 8362 e-mail: ryan@deneesti.ee

BPM Mezzanine Fund SICAV-SIF, SCA (BPM), managed by BPM Capital, is supported by prominent international and domestic institutional investors. BPM was originated through the Baltic Innovation Fund (BIF) initiative created by cooperation between Estonia, Latvia, Lithuania and the European Investment Fund. BPM Capital (www.bpmcapital.eu) 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 invests in small and medium-sized enterprises and lower midcap companies in the Baltic region and Poland.

DenEesti OÜ (www.deneesti.ee) was founded in 1999 by UK and Estonian tourism professionals to offer shore services to cruise ships in Tallinn. The company has continuously grown over the years and serviced more than 100 ship calls in Tallinn in 2017.

Photo by Clem Onojeghuo on Unsplash

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