Adam
Auto SIA was founded in 1997. In 2010, the
company sold 140 Opel cars (personal and commercial vehicles), 18 Chevrolet
cars and 166 used cars. The company employs 76 people.
According to Aivis Silgals,
the CEO of Hansa Auto, the acquisition will not lead to significant changes in
Adam Auto and its dealerships’ daily work. "During the 14 years of
operation, the dealerships of Adam Auto have shown to be highly stable and
successful car saloons with a good team and excellent customer service,“
Silgals said.
"We believe that the Latvian economy is increasing
rapidly. 2011 is the right time to make new investments in Latvia, taking into
account the potential of the car market and the increase in sales figures for
2012-2013." commented Raivo Kütt, CEO of Amserv Group.
Astra Neimane, Investment Director at BaltCap added: „Since the investment in 2004, BaltCap has developed and supported Adam Auto both during the times of very fast growth and during market decline. Now that the market recovery is taking place, we believe that this is the rigth moment to transfer the ownership of Adam Auto to strategic owner Amserv Group. Becoming a part of one of the leading car dealer groups in the Baltic States would provide additional development opportunities for Adam Auto.“
Amserv Group is the largest car retail and service company in Estonia and Latvia. The company operates 11 dealerships in Tallinn, Pärnu, Tartu, Paide, Viljandi and Riga representing the brands of Toyota, Opel, Chevrolet, Hyundai, Peugeot, Lexus and Saab.Additional Information:
| Astra Neimane | Mart Mägi |
| Investment Director | Managing Director |
| BaltCap Management | Amserv Group |
| Phone: +371 291 166 80 | Tel: +372 50 30 199 |
| E-mail: astra.neimane@baltcap.com | E-mail: mart.magi@amserv.ee |