TGS Baltic has advised the INVL Baltic Sea Growth Fund on its acquisition of cosmetics producer B2Y.
According to the firm, “B2Y will continue to be led by its founder and CEO Rita Lagzdina.”
The INVL Baltic Sea Growth Fund is a private equity investment fund operating in the Baltic States, Poland, Scandinavia, and Central Europe.
B2Y is Latvia-headquartered personal care products and cosmetics producer. The company develops and manufactures natural skincare, oral and hair care, and bath and shower products.
“B2Y becomes our fifth portfolio company,” INVL Baltic Sea Growth Fund Executive Partner Deimante Korsakaite commented. “We enter the company envisioning significant growth of B2Y in this industry. The Fund recognizes that small businesses are one of the key parts of the global economy, and as a manager of both private and public money aims to support the entrepreneurship and growth of small and medium-sized enterprises.”
“I envision B2Y as one of the leading skincare producers in the region, and to achieve this goal we agreed to partner with the INVL Baltic Sea Growth Fund,” Lagzdina added. “B2Y has significant growth opportunities, and now we have a strong backer to support growth to a new level.”
The TGS Baltic team included Lithuania-based Partner Aurimas Pauliukevicius and Associate Paulius Dabulskis and Latvia-based Partner Andra Rubene and Associates Kaspars Treilibs, Rudolfs Vilsons, Toms Tidemanis, Zane Sklamina, Alina Lepere, and Janis Karsenieks.
TGS Baltic did not respond to our inquiry on the matter.