Vilija Zapalskienė, previously the COO of FERN Group, has been appointed CEO of FERN Group and its subsidiaries.
Nerijus Eidukevičius, who previously held the CEO role, has been elected Chairman of the Board of FERN EPC, FERN Production and Montuotojas.
„Nerijus‘ strategic abilities and in-depth market knowledge are very important to the group. The change will allow him to prioritize the strategic development of the group.
Vilija has a successful track record in managing and improving companies. We believe that strengthening the operational performance of the Group’s companies will benefit FERN Group’s clients and increase its competitiveness,” said Darius Šulnis, Managing Partner of INVL Baltic Sea Growth Fund.
Vilija Zapalskienė, who has been the COO of FERN Group since the beginning of the year, has more than 20 years of management experience in various companies, from investment management at Maxima Group to CEO roles in building maintenance companies Civinity and Inservis.
“I am grateful for the trust, and I accept this challenge. I will strive to strengthen the group of companies, and ensure its stable growth and leadership in its field. We will continue to cherish the same values and strategic goals to expand into global markets, operate sustainably, and take care of the well-being and growth of a team of more than 350 people,” emphasized the new CEO of FERN Group.
„We plan and make changes to improve ourselves, to get stronger, to grow, so that our employees are proud of the company they work for, so that they want to come to work every morning, so that they and their families feel safe and secure, so that our customers get the highest quality product in every sense, so that all of our partners feel safe and happy to work with us, and so that our shareholders can give us big goals, and count on us to achieve them“, – said N. Eidukevičius.
FERN Group, managed by INVL Baltic Sea Growth Fund, the leading private equity fund in the Baltic States, is a leading engineering solutions group in Lithuania, consisting of the company Montuotojas and two more specialised companies, FERN EPC and FERN Production. The group has 60 years of experience in the market and has completed more than 250 projects in industrial, energy, logistics, oil, wood processing, chemical, paper, food, and agricultural applications. Last year, the Group’s consolidated revenues amounted to around EUR 30 million.
About INVL Baltic Sea Growth Fund
With a size of EUR 165 million, the INVL Baltic Sea Growth Fund is the leading private equity fund in the Baltics. The European Investment Fund (EIF) is its anchor investor.
The EIF, which is a part of the European Investment Bank, has committed EUR 30 million with the support of the European Fund for Strategic Investments (a key element of the Investment Plan for Europe, or the Junker Plan) whilst also allocating resources from the Baltic Innovation Fund, a “fund of funds” initiative developed in cooperation with the governments of Lithuania, Latvia and Estonia. The initiative aims to increase capital investment in high-growth potential small and medium-sized enterprises in the Baltics.
The fund is focused on the Baltic countries and neighbouring regions including Poland, the Nordics, and Central Europe. After this investment, INVL Baltic Sea Growth Fund has formed a diversified portfolio of nine companies. The fund has to date invested in companies that focus on sectors including food processing, healthcare, medical rehabilitation, civil engineering, plastic recycling, environmental management, veterinary services, and the manufacturing of cosmetics and hygiene products.
The fund is managed by INVL Asset Management, the leading alternative asset manager in the Baltic States, which is part of the Invalda INVL Group, operating for more than 30 years. The group’s companies manage more than EUR 1 billion of assets across multiple asset classes including private equity, forests and agricultural land, renewable energy, and real estate as well as private debt. The group’s scope of activities also includes family office services in Lithuania, Latvia, and Estonia, management of pension funds in Latvia, and investments in global third-party funds.
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