Sakret Holdings has completed a refinancing of existing bank liabilities
October 2019 — Sakret Holdings has completed a refinancing with Luminor Bank to secure future growth plans.
Sakret Holdings is a Latvia-based group operating under the global Sakret franchise. The company produces dry ready-made mixes and liquid mixes for the construction industry, such as tile adhesives, masonry and repairing mortars, dry concrete, and external thermal insulation component systems (ETICS). The company is among the largest producers of ready-mix construction materials in the Baltics with over 25% market share in all three countries. The company operates four production plants in the Baltics: two in Riga, Latvia, one in Kedainai, Lithuania, and one in Paide, Estonia. Sakret's plant in Lithuania is the largest production plant of dry construction mixes in the Baltics.
Our role in the transaction
Oaklins' team in Riga advised both Sakret Holdings and their former bank – Luminor Bank – on a complex transaction to refinance the existing debt liability with the bank. To establish a market price for equity, a sale process was run with selected strategic investors. Once Sakret Holdings and Luminor bank agreed on the haircut amount for the loan, Oaklins' team advised on the best debt structure and approached regional banks and alternative financing providers for their offers.
Andris Vanags
Chairman of the Council, Sakret Holdings
Talk to the deal team
Related deals
ENGIE Énergie Services has sold Majorelle to Isospace
Majorelle, a pioneer in space planning in France for 40 years, has been sold to Isospace by ENGIE Énergie Services. The transaction marks a new chapter in Majorelle’s growth, bringing together complementary expertise in workplace design, space planning and fit-out while preserving its brand, teams and market positioning. Together, Majorelle and Isospace generate more than US$45 million in revenue, primarily in the Île-de-France region. The companies operate in a commercial fit-out market undergoing significant transformation, driven by evolving workplace needs, real estate asset repositioning, regulatory requirements and environmental and socioeconomic challenges. Philippe Savajols, president of Isospace and Majorelle, aims to ensure continuity for Majorelle and its teams while developing complementary capabilities and synergies across the group, preserving both companies’ respective cultures, expertise and client relationships.
Learn moreMulti-Tech and AGJ have been acquired by Wicotec Kirkebjerg, part of the Aarsleff Group
Rent-Tech A/S, including its subsidiaries Multi-Tech A/S and Asger G. Jørgensen A/S (AGJ), has been acquired by Wicotec Kirkebjerg A/S, part of the Aarsleff Group. The transaction creates a strong platform for continued growth and development. With the acquisition of Rent-Tech, Wicotec Kirkebjerg strengthens its industrial service offering and position in West Zealand, Denmark, expanding its capabilities in electrical installations, specialized piping and metalwork services. As part of Wicotec Kirkebjerg, Rent-Tech gains access to additional resources, expertise and larger-scale project opportunities while maintaining their local presence, management teams and long-standing customer relationships. All businesses will continue to operate under their existing brands and leadership teams.
Learn moreAKO Wartungs- und Service GmbH has been acquired by Reinburg Gruppe
The sole shareholder of AKO Wartungs- und Service GmbH, a highly profitable German provider of maintenance, inspection and repair services for emergency power generators, had sold 100% of the company’s shares to REINBURG Gruppe, a portfolio company of private equity investor Strada Partners. The acquisition strengthens REINBURG’s position in the technical services sector and expanded its service portfolio in critical power infrastructure. With more than 800 recurring maintenance contracts, a diversified customer base and strong profitability, AKO represents an attractive addition to REINBURG’s growing portfolio of specialized technical service providers. The transaction also secures a long-term succession solution for AKO and establishes a strong foundation for its continued growth and development as part of a larger, private equity-backed group.
Learn more