BaltCap bought a 47.9 per cent interest in Primekss for €1.4m in 2010 in the first deal from its BaltCap Latvia Venture Capital Fund.
Primekss has twice received Most Innovative Product award at World of Concrete in Las Vegas for its PrimeComposite floors and rafts, which reduce CO2 emissions from concrete production by more than 30 per cent.
BaltCap investment director Peteris Treimanis said, “During BaltCap’s tenure Primekss successfully expanded internationally becoming one of the leading concrete contractors in Scandinavia and the Baltic States and licensing its technology across the USA, Belgium, South Africa, Belarus, Russia, Israel.
“Primekss is a success story showing how a Latvian company with an innovative product offering can rapidly expand its business in foreign markets with the help of venture capital.”
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