July 2024. Prudentia Riga is pleased to announce that it acted as the exclusive financial advisor to the shareholders of KS Terminal SIA, the seaport terminal and one of the leading stevedore companies in the Freeport of Riga, in the sale of 100% of its shares to Kronospan Riga SIA. This acquisition by Kronospan, an international manufacturer and distributor of wood-based products, will strengthen the operations of the group in the New Nordics region and will allow for the reassessment of the strategic options for further development of the given terminal and Freeport of Riga.
About the company
KS Terminal, founded in 2000, is the seaport terminal located in Riga on the left bank of the Daugava river and one of the leading stevedore companies in the Freeport of Riga. The company handles various cargo types including general and bulk, mainly focusing on forest, agricultural, mining and metallurgical commodities. The operations are carried out on 2 berths with a total length of 413 meters with a depth mark of 14 meters, which allows for accommodating vessels of the Panamax type. In 2023, KS Terminal reported revenues of 7.9 million euros and EBITDA of 1.6 million euros.
About the buyer
Kronospan, founded in 1897, is a global leader in the manufacture of wood-based panels, operating 41 manufacturing sites and numerous ports globally. The company's extensive product range includes particleboard, MDF, laminate flooring, and OSB, catering to diverse industries from construction to furniture. Kronospan is committed to sustainability, utilizing recycled wood and sawmill residues to minimize environmental impact. With strategic facilities across Europe, Asia, and the Americas, and a strong distribution network, Kronospan ensures global availability of its high-quality products.
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