Wermuth Asset Management’s Green Gateway Fund completed management buyout of Primekss
Primekss is a specialized concrete contractor and technology partner for concrete contractors. Primekss offers a comprehensive solution to produce concrete floor and structural elements that are cast 30% faster and deliver 50% stronger concrete with 40-70% less carbon dioxide emissions, allowing for thinner, yet stronger than traditional, floors. Its technology also avoids joints in floors due to the elimination of concrete shrinking. Primekss, thus, revolutionizes the concrete floor business.
Primekss operates in three main segments: flooring, structural elements and licensing. Its new production technology is patented in all relevant markets. It started as a concrete contractor in 1997 and today has a global footprint with its headquarters in Latvia, direct subsidiaries in 10 countries and partners worldwide.
Lincoln advised the Green Gateway Fund, in particular its investment advisers, Wermuth Asset Management’s Senior Fund Partner Polina Burnos, Fund Partner Marina Shestakova and Venture Partner Gilles Bonnaert, in their negotiations with the management team and other shareholders of Primekss. The transaction benefitted, among others, the Sovereign Wealth Fund of Tatarstan and SINEK fund.
The terms of the transaction are confidential.
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