Lithuania’s Eco Baltia is the largest environmental management and recycling company in the Baltic States, and it is managed by the INVL Baltic Sea Growth Fund. The company has announced that it has purchased 100% of shares in Latvia’s hazardous waste collection and processing company, Eko Osta. The sum of the takeover has not been disclosed.
The acquisition was complete once Latvia’s competition watchdog gave its permission, INVL Asset Management said on Thursday.
Eco Baltia board chairman Maris Simanovics says that the deal will provide even broader and higher-quality services to the company’s clients.
“The inclusion of a hazardous waste collection and processing company in the Eco Baltia group is a significant step toward expanding our range of services and pursuing our development strategy by incorporating more types of wase in our management portfolio for recycling,” the chairman says. “The acquisition of Eko Osta opens up new possibilities for more effective waste management cycles in segments in which satisfaction of regulatory standards has been challenging in the past.”
Eko Osta specializes in waste management and recycling, collection, transportation and purification. It also engages in processing of oil-polluted water, environmental remediation and quality monitoring. The company also handles waste that is generated by ships, including oil waste that is collected at Latvia’s ports.
In 2023, Eko Osta generated revenues of EUR 7.85 million.
Source: BNS
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