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Wurth cleared to buy Lithuanian lighting solutions firm Gaudre
BC, Vilnius, 22.01.2018.
Print version
Print versionGerman fastener and tools giant Wurth Group has obtained regulatory approval to control Lithuania's indoor and outdoor lighting solutions company Gaudre, reports LETA/BNS.
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The Lithuanian Competition Council on Thursday gave the green light for Elektrobalt, a Wurth Group-controlled Lithuanian electrical goods wholesaler, to purchase 100% of shares in Gaudre.
Practica Venture Capital, a venture capital fund of Practica Capital, currently holds a 45% stake in Gaudre. Reda Mickeviciene owns 28.3% of shares and Vladas Rinkevicius holds the remaining 26.7%.
Gaudre posted a net profit of 221,100 euros on sales revenue of almost 4.3 million euros for 2016.
Wurth Group consists of over 400 companies in more than 80 countries. Its Lithuanian companies are engaged in wholesale and retail trade in electrical installation and fastening materials, chemical products and tools.
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