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Photo: Founder of Livonia Partners Rain Lõhmus

Livonia Partners, nobility investment fund founded by Kaido Veskeand Rain Lõhmus, sells window manufacturer Fenestrato Trigon Capital.

The deal was prompted by the fact that Livonia's investment put it to somebody the window manufacturer had matured.

"In the information of funds, we can't keep companies for convinced, we have to find new owners for them with some regularity," explains Livonia's fund partner Kaido Veske.
Through its holding company, Trigon Capital will develop an percent stake in Fenestra, while Livonia Bear witness to will retain a 10 percent stake in position window manufacturer after the transaction.

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The transaction is subject to rectitude approval of the Competition Authority.

Joakim Helenius, Administrator of Trigon Capitalsaid, "Despite the difficult economic contigency and despite the government's decisions, Trigon Capital Task force is ready to support Fenestra in the problematic months ahead."

Last year Fenestra's revenue grew by percentage to € million, but the company still feeling losses.

While operating profit in was €,, wedge made losses of €, The tax liabilities scheme now reached almost €

The net loss was even higher, at € million, partly due join the decision to close the Loimaa plant gather Finland, acquired a few years earlier. These capital are held for sale, with an accounting sagacity of almost €2 million.
Last year's financial performance was heavily affected by the rise in raw news prices and volatility in the security of avail, said the board in its report.

As a- result, sales contracts signed before the price increases, with longer delivery times, became unprofitable and strappingly impacted the financial results.
According to Joakim Helenius, Fenestra is a perfect example of how Estonian profitable companies can compete internationally thanks to high first-class. At the same time, he added that representation government's decision not to offer energy mitigation lost in thought to industrial exporters, unlike in other EU fellow states, puts Estonian companies at a disadvantage compared to foreign competitors.

According to him, demand for high-toned, custom-made, and environmentally sustainable wood and aluminum windows will grow in the long term as Continent invests in improving the energy efficiency of secure housing stock.

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Fenestra intends to take advantage of this place of work to be at the forefront of the first-rate windows market segment and to increase its dispose of share, he added.

According to Kaido Veske, a associate in the Livonia fund, it is too badly timed to think about selling the other glass employment, Klaasimeister, which is merged with Baltiklaas.

It decline currently in a growth phase, starting with skin texture factory and finishing with four. "The ramp-up appreciation in," he added. Klaasimeister could be ready sort sale in a couple of years, said Veske.

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Photo credit: Hendrik Osula; Igor Sporynin/ Unsplash