Fima attracts investment for its international expansion plans

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MVC Capital, Inc., a New York Stock Exchange listed  business development company that makes private debt and equity investments, in partnership with Riga Capital, has acquired an interest in Fima,  the leader of intelligent engineering solutions market in Lithuania, from company’s founder Vaidas Barakauskas.

“The new partners will help us expand our services to the Lithuanian companies and institutions as well as to fulfil our plans to expand in the Baltic Sea region”, - said Mr. Barakauskas.

MVC Capital has announced to make a 28.1 million USD equity investment. Parex bank acted as the sole debt provider. The exact price of the deal is not being disclosed.

Nils Melngailis, President of Riga Capital said, “We believe that Fima is a great success story and that it is a company which has the potential to become the leading integrated solutions provider across the region. This is exactly the type of growth opportunity where we can add value and we look forward to working with the management team at FIMA to help expand the business.”

Gintaras Juknevičius, the CEO of Fima, has also stated that the new investment will ensure the succession of all the projects. “This investment demonstrates a full confidence in our team and clear strategy to help modernising Lithuania”. He has also stated that it sends a positive signal to the partners, employees and the clients of the engineering company.

Gintaras Juknevičius will contunue to lead the company as the CEO. A Board will be introduced and will include representatives of all three shareholders – Vaidas Barakauskas, Chris Sullivan from MVC and Kristine Berzina from Riga Capital.