INVL Baltic Sea Growth Fund-backed Eco Baltia strengthens its position in Baltic waste management
The Eco Baltia group, managed by INVL Baltic Sea Growth Fund – one of the largest private equity funds in the Baltics – is continuing its expansion within the environmental and waste management sector. Eco Baltia has increased its stake in Daugavpils specializētais autotransporta uzņēmums (DATU) from 40.4% to 98%.
“The Baltic environmental and waste management market is fragmented, which creates significant room for consolidation and increased efficiency. As the market leader in the Baltics, we are actively looking for acquisitions that allow us to expand into new regions or specific waste management niches,” says Vytautas Plunksnis, Partner at INVL Baltic Sea Growth Fund and Chairman of the Supervisory Board of Eco Baltia.
The transaction was executed by Eco Baltia vide, a subsidiary of the Eco Baltia group (which also owns Ecoservice in Lithuania). INVL Baltic Sea Growth Fund holds a 52.8% stake in Eco Baltia.
Jānis Aizbalts, Chairman of the Management Board at Eco Baltia vide, states that DATU will be gradually integrated into the Eco Baltia group, with a focus on implementing unified management, environmental, and safety standards.
“By acquiring DATU, we have taken a strategically important step in the Latgale region. This acquisition provides a foundation for the development of a modern, efficient and integrated network of waste management and road maintenance services. Our experience of providing road maintenance and environmental management services in Riga and other parts of Latvia has demonstrated that the private sector can offer competitive, financially attractive and sustainable services. By integrating DATU into the Eco Baltia group, we aim to gradually introduce our corporate standards, promote occupational safety and efficiency, and improve the quality of environmental services throughout Latgale,”. says J. Aizbalts.
In 2024, DATU generated a turnover of EUR 5.6 million and employed approximately 100 people. The Eco Baltia group recorded a consolidated turnover of EUR 261.54 million in 2024 — a 20% increase compared to 2023.
In November, a new fund — the EUR 410 million INVL Private Equity Fund II — completed the acquisition of a 75% stake in the Estonian waste management group Eesti Keskkonnateenused (EKT).
About INVL Baltic Sea Growth Fund
With a fund size of EUR 165 million, the INVL Baltic Sea Growth Fund is one of the leading private equity funds in the Baltics. Its anchor investor is the European Investment Fund (EIF), which is a part of the European Investment Bank, and committed EUR 30 million with the support of the European Fund for Strategic Investments (a key element of the Investment Plan for Europe, or the Junker Plan) while also allocating resources from the Baltic Innovation Fund (a “fund of funds” initiative developed in cooperation with the governments of Lithuania, Latvia and Estonia, to increase capital investment in high-growth potential small and medium-sized enterprises in the Baltics). The fund is managed by INVL Asset Management, which companies manage over EUR 2 billion of assets.
About Eco Baltia
Eco Baltia is the largest environmental resource management and recycling group in the Baltics, ensuring a full waste management cycle - from waste collection and sorting to secondary raw material logistics, wholesale, and the recycling of secondary materials, including PET and PE/PP plastics, as well as PET fiber production.
The Eco Baltia group ended 2024 with its largest ever audited consolidated turnover of EUR 261.54 million, an increase of 20% compared to 2023.
The group's companies in Latvia, Lithuania, Poland and the Czech Republic have more than 2,600 employees. The largest of the companies the group owns are Eco Baltia vide, Latvijas Zaļais punkts, Nordic Plast, Oil Recovery, and ITERUM in Latvia, Metal-Plast in Poland, TESIL Fibres in the Czech Republic, and Ecoservice in Lithuania.
The shareholders of Eco Baltia are the INVL Baltic Sea Growth Fund (52.81% through UAB BSGF Salvus), the European Bank for Reconstruction and Development (30.51%) and Māris Simanovičs (15.93% through SIA Enrial Holdings and 0.75% through Penvi Investment Ltd).
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