BPM Mezzanine Fund provided financing for paint producer Eskaro
BPM Mezzanine Fund SICAV-SIF, SCA (BPM) has provided working capital financing and refinancing capital to Eskaro AS, a subsidiary of Eskaro Group AB (Eskaro). Eskaro is one of the leading paint producers in Estonia, Finland, Belarus, Russia and Ukraine. The company was established in Tallinn in 1993. Today, the company has production and commercial enterprises in 6 countries.
Member of the Board of Eskaro Andres Assor commented: „This transaction is an important step forward for us providing financial stability and strength for further growth. Eskaro brands are among the most recognised and trusted by consumers in our key markets. Attracting a strong financial partner allows Eskaro to continue gaining the market share in the countries we operate.”
“Eskaro’s brands hold strong positions in the DIY segment in all of its key markets: Estonia, Russia, Ukraine and Belarus. The company has proven to be able to generate stable cash flows over a long period of time. The project has significant growth prospects and export potential matching the main objectives sought by BPM. The management team has extensive experience in the sector and a long career in the company,” said Priit Veering, Partner of BPM Capital.
For further enquiries, please contact:
BPM Capital: Priit Veering, tel: +372 605 0074, e-mail: priit.veering@bpmcapital.eu
Eskaro: Andres Assor, tel: +372 553 6202, e-mail: andres.assor@eskaro.com
More information about BPM Capital
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 Mezzanine Fund, 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.
More information about Eskaro
Eskaro (www.eskaro.com) is one of the leading paint producers in Estonia, Latvia, Finland, Belarus, Russia, and Ukraine. The plants of the Eskaro produce more than 30 million litres of products annually with 480 people working in production, logistics and distributor support in the EU, Belarus, Russia and Ukraine. With annual revenue of 31 million EUR in 2015 Eskaro’s factories manufacture over 400 categories of products including paints, prime coatings, varnishes, wood protection liquids, putty, glues, and solvents. The majority of products are water borne, which are environmentally friendly as opposed to alkyd paints.