Asset management group Invalda INVL sold UAB Kelio ženklai, a company engaged in the production and export of road signs, other metal products and oak furniture. A 100 percent stake was sold to a group of private investors.
"We are happy to be able to hand over the management of the company into the hands of very experienced investors. Such businesses can generally be run much more efficiently when the owners work directly and take full advantage of a small business. And we will continue to focus on our core activities in asset management," says Darius Šulnis, President of Invalda INVL.
The group of private investors that acquired UAB Kelio ženklai includes one of the company's key executives. The previous commercial director of the company Žydrūnas Matusevičius becomes the CEO of UAB Kelio ženklai and will take care of the further development of the company.
The turnover of UAB Kelio ženklai last year exceeded 2.7 million euros, the net loss was 75 thousand euros.
Invalda INVL is a leading asset management group which is open and growing, invests with clients, and creates wellbeing for people through its work. The group’s companies, operating in Lithuania and Latvia, serve over 240 thousand individual and institutional clients from the region and abroad. Those clients have entrusted the Invalda INVL group with more than EUR 1.3 billion of assets for management in a variety of asset classes, including pension and mutual funds, individual portfolios, and private equity and other alternative investments.
The shares of Invalda INVL have traded on the Nasdaq Vilnius stock exchange since 1995.
The person authorized to provide additional information is:
Darius Sulnis, President of Invalda INVL