AMATA SIA has acquired one of the leading manufacturers of outdoor wooden furniture and interior design elements in Europe – EKJU SIA. The transaction was financed by Signet Bank and Private Equity Fund Flycap.
EKJU was founded in 1992, but since 2012 the company has significantly increased its export volumes, strengthened its position in the main European markets and implemented the principles of sustainability. EKJU has confidently started successful operation in the e-commerce sector and is currently one of the most successful in this industry in the garden furniture market in France, Great Britain and Germany. The company has implemented LEAN and TOC production methods, significantly boosting its productivity and sales – from EUR 5.6 million in 2012 to more than EUR 13 million in 2020.
We highly appreciate the professional management team of EKJU and we see great potential for EKJU’s further development. As a local capital bank, we are happy to finance this transaction, helping modern and talented local entrepreneurs implement their business development plans not only locally but also internationally. The principles of sustainability followed by EKJU are well in line with the Signet Bank’s strategy, implementing these principles in our operations.
Roberts Idelsons, Chairman of the Board at Signet Bank
BaltCap Investment Director, Pēteris Treimanis, points out that alongside business growth, EKJU has become a leader in the issues regarding the working environment and sustainability.
Today, EKJU is the most sought-after employer and one of the leading taxpayers in the region. During the BaltCap investment period, the amount of taxes paid by EKJU exceeded EUR 7.3 million and significantly contributed to the development of the region. BaltCap trusts the long-term vision of further development of the company by the new owners.
BaltCap Investment Director, Pēteris Treimanis
The bank was founded in 1992 as Latvijas Biznesa banka. Since 2013, it has focused its strategy on servicing entrepreneurs and their businesses, with an emphasis on high-quality capital maintenance and structured investment projects. Signet Bank’s majority shareholders are a group of Latvian and international investors, which includes SIA Hansalink, SIA Fin.lv, and Signet Acquisition III.