BALTIK VAIRAS, UAB

BALTIK VAIRAS, UAB is a full-service Original Equipment Manufacturer (OEM) specializing in the design and production of high-quality bicycles for European brands, focusing on environmentally friendly transportation. Founded in 1948, BALTIK VAIRAS, UAB operates as an OEM to produce customized bicycles for various brands. The company is headquartered in Siauliai, Lithuania. In July 2019, KJK Capital acquired BALTIK VAIRAS from ASGAARD A/S and LitCapital, marking a strategic shift for the company.

The latest funding round was a GROWTH round in which the company raised USD 1. 80 mn, bringing the total amount raised to USD 1. 80 mn. The company has completed a total of 2 deals, with the most recent deal date being July 1, 2019.

The current CEOs are Nerijus Guzauskas and Stephen Watkins. BALTIK VAIRAS is a leading full-service Original Equipment Manufacturer (OEM) specializing in the production of bicycles for brands across Europe. The company engages in the entire bike development process, encompassing research and development (R&D), design testing, component sourcing, and assembly. Its products are aimed at urban commuters, recreational cyclists, and cycling enthusiasts, with a focus on customizable, high-quality bicycles.

In the most recent financial year of 2022, BALTIK VAIRAS generated revenue of USD 194. 79 mn, with an EBITDA of USD 6. 64 mn. The company's revenue model primarily revolves around B2B transactions, wherein it partners with bicycle brands to fulfill bulk production orders as per detailed agreements, ensuring alignment on product specifications and timelines.

BALTIK VAIRAS is looking to expand its product line with new bicycle designs aimed at specific customer segments, although specific release dates have not been disclosed. The company plans to enter new markets in Northern Europe and the Baltic region by 2025, leveraging its recent GROWTH funding to enhance its production capabilities and marketing efforts. The completion of the acquisition in August 2019 positioned BALTIK VAIRAS for strategic growth, allowing for investments in technology and innovation to meet evolving market demands.