Past Transactions

Latvijas Propāna Gāze SIA

Callidus Capital advised Latvijas Propāna Gāze (LPG) on attracting credit guarantees from the state development financial institution ALTUM, which resulted as LPG's lending bank - extended loan repayment terms and rescheduled loan repayment schedules in accordance with the company's cash flow, ensuring stable further operation and development.

Latvijas Propāna Gāze SIA

Callidus Capital advised Latvijas Propāna Gāze (LPG) on receiving financial support for the Covid-19 crisis-affected exporting companies from the LIAA to overcome the consequences of the crisis, as a result of which LPG received support of 350 thousand EUR.

Latvijas Propāna Gāze is the largest supplier of liquefied petroleum gas in Latvia with an extensive retail network - 53 gas filling stations and 350 gas cylinder distribution points. The company owns 70% of the car gas market and more than half of the liquefied heating gas and gas cylinder market in Latvia.

Latvijas Propāna Gāze SIA

As a result of the Covid-19 crisis, the Latvijas Propāna Gāze needed additional working capital. Callidus Capital represented LPG's interests in ALTUM and raised additional working capital of EUR 1 million to overcome the consequences of COVID-19.

Latvijas Propāna Gāze is the largest supplier of liquefied petroleum gas in Latvia with an extensive retail network - 53 gas filling stations and 350 gas cylinder distribution points. The company owns 70% of the car gas market and more than half of the liquefied heating gas and gas cylinder market in Latvia.

GoWood

Callidus Capital performed an analysis of the assumptions of the GoWood business plan in connection with the establishment of dried firewood plants in Latvia, and provided its opinion to the ZGI Capital Foundation, which planned to make and as a result also invest in the implementation of the GoWood business plan.

About GoWood
Founded in 2019 with the aim of becoming the leading dried firewood production company in the region, developing production facilities in Daugavpils, Balvi, Ludza and Limbaži.

IPAS INDEXO

Callidus Capital was hired as a shareholder financial advisor to attract buyers and arrange the transaction. Callidus Capital ensured the successful completion of the transactions and as a result 9 shareholders sold their shares, which is 19.5% of the total number of IPAS INDEXO shares, and 25 investors bought these shares for the total amount of 1.9 million euros. The shareholders sold their shares, tripling their capital investment about three and a half years ago.

IPAS INDEXO

Callidus Capital acted as an exclusive advisor to INDEXO pension fund manager and lead its share capital raising process. Investments were necessary because INDEXO has reached 200M€ assets under management, which by law requires having share capital of at least 3.0M€. Investors bought newly issued shares at a pre-money valuation of 10M€. Since its inception INDEXO has been the fastest growing pension fund manager in Latvia and the newly raised funds will allow it to continue its success story.