Wood pellets manufacturer UAB Granulita becomes part of GreenGroup

2024 - 02 - 29

A contract for the sale of shares in UAB Granulita, a manufacturer of wood pellets, has been signed with Žalvaris, the largest industrial waste management company in Lithuania, which is part of the GreenGroup group of companies managed by the Abris fund.

Granulita’s management team will continue to work for the GreenGroup group after the transaction, striving to sustain the company’s current direction and foster its continued growth.

This acquisition will give UAB Žalvaris more sustainable opportunities to manage wood raw materials extracted from waste, create new sources of income, and contribute to the overall growth of the GreenGroup group of companies.

The transaction still needs to be cleared by the Competition Council before it goes ahead. After obtaining merger clearance, the transaction is due to be closed at the end of the second quarter of this year.

Granulita is a manufacturer of wood pellets, producing up to 100,000 tons of output per year. The wood pellets manufactured by the company are intended for industrial use and for the production of fuel for power plants supplying green electricity and thermal energy.

In Lithuania, Žalvaris is already managing the wood waste management company UAB Žalvaris Wood and the vehicle management company UAB Žalvaris Autoscrap, specialising in the disposal of unfit vehicles.

In this transaction, COBALT acted as the representative for the sellers of UAB Granulita’s shares. The COBALT team was led by Partner Juozas Rimas and Senior Associate Jūratė Masiulytė-Katakinė.

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