BaltCap invests in PostService Group

BaltCap, the leading private equity and venture capital firm in the Baltics, has signed an 1.5m EUR investment in PostService Group, the leading Latvian private postal operator and developer of automated last mile delivery solutions.

PostService Group is the largest privately-owned postal operator in Latvia and the market leader of unaddressed mail. With forty “Mana Pasta Stacija” parcel delivery and shipment terminals in all largest cities, PostService Group is the leading operator of automated parcel delivery and shipment terminals. In addition, the Group develops and exports automated parcel terminals to satisfy the needs of other postal operators and courier companies as well as companies from other industries where parcel deliveries are crucial.

“As the amount of online purchases grows rapidly, so does the demand for convenient and effective delivery of goods purchased online. With more than ten years of experience in the postal industry, PostService Group has excellent growth potential – not only in the local postal and parcel delivery market but also in the export markets as a developer of automated last mile delivery solutions. We are excited about being able to support the experienced team of PostService Group on the way to achieving their goals,” said Janis Pranevics, Associate Director at BaltCap.

“We have ambitious plans for the Latvian postal and courier market and we also aim to bring our export business to a whole new level,” said Nadezda Razumova, owner and Chairwoman of the Management Board at PostService Group.

“I believe that synergy with BaltCap will yield good results in the near future and together we will create a success story for both companies. Experience from our co-operation, which so far has been relatively short but intense and valuable, confirms that,” she added.

BaltCap Latvia Venture Capital Fund’s investment in PostService Group comprises commitments from private investors as well as from the EU-sponsored JEREMIE programme which is administered by the Latvian Guarantee Agency. Klavs Vasks, Chairman of the Board at LGA marked: „Companies with high growth and export potential like PostService Group are one of the priorities for state support.”

Further information:

Janis Pranevics    

Associate Director

Baltcap

Phone: + 371 28376034

E-mail: janis.pranevics@baltcap.com

Nadezda Razumova

Chairman of the Board

PostService Group

Phone: +371 29222584

E-mail: nadja@postservice.lv