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PINE COAST: A Succession Entrepreneur
Pine Coast is an entrepreneurial project with a single purpose to offer a succession solution to one promising business in the Baltic or Nordic countries. The project is led by an experienced professional who is supported by 20 local and international partners with extensive operational and investment experience
KIRILS GERASIMOVICS
Kirils is a Managing Director at Pine Coast and will take a key management role at the acquired company after relocating close to operations. He has over 8 years of M&A, investment and project management experience at leading international financial institutions. Over the years, he had an opportunity to complete more than 40 M&A transactions across Europe, South America and Asia, both as an advisor and investor. Working closely with senior management of companies across industries, allowed him to build a strong skill set in finance, project management and people management
Kirils was born and raised in Riga and returned in 2020 after working and studying in the UK, Netherlands and France over the previous 15 years. In his spare time, he plays basketball and enjoys scuba diving. The night dive at SS Thistlegorm shipwreck in Egypt’s Red Sea is his by far the most memorable
Kirils holds an MBA from INSEAD in France, MSc in Finance and Investments from Rotterdam School of Management in Netherlands and BA in Accounting and Finance from University of Plymouth in the UK. He is a Chartered Accountant of England and Wales
Select Partner Profiles
Kirils is backed by 20 local and international partners with decades of operational and investment experience
Eero Tohver
Eero is a shareholder and CEO of Estonian software development company Uptime. He has over 20 years of CEO experience expanding Uptime to Europe through organic growth and more than 15 M&A deals. He is an active investor in various sectors with extensive experience in the start-up field. Eero is a member of Estonian Business Angels Network, an investor and board member of Startup Wise Guys accelerator
Tom Hendrickx
Tom is a serial entrepreneur and investor. At the age of 28 he bought his first company, a renowned Belgian luxury home builder and renovator Sels. After successfully operating and exiting the business, he became an active investor with an affinity for Entrepreneurship Through Acquisition
Tobias Raeber
Tobias is an experienced entrepreneur, investor and mentor. In early 2015, together with his business partner, they acquired a German semi-permanent industrial warehouses manufacturer, Herchenbach. They subsequently developed the business with substantial both top- and bottom-line growth and expanded to other European countries
Donatas Dailide
Donatas is a CEO and co-owner of DOJUS group, a Lithuania-based group of companies engaged in agricultural, forestry, golf and turf machinery distribution, real estate and financial investments. He has been involved in PE & VC investment space in the Baltics and beyond for more than a decade. Donatas is YPO Lithuania FY2020/2021 Chapter Chair and Founding Member at Young Presidents' Organization (YPO)
Guido verswijvel
Guido is a Managing Director of Gucy Management, a strategic partner of a number of Belgian medium-sized companies. He also holds equity stakes and sits on the board of directors at several high growth companies. He co-founded Business Angel Network in region Flanders in Belgium and Financial Consultancy for medium sized Businesses (Finpower). Guido teaches entrepreneurship at INSEAD and Hult International Business School
José Martin Cabiedes
José is a founder and managing partner of Cabiedes & Partners, a Spanish entrepreneurial investment firm. He has been an active investor since 1998 and backed some of the most successful European ventures. He is a board member at largest Spanish-speaking news media agency, Europa Press and trustee at a non-profit organisation, Hazloposible. José teaches entrepreneurship at IESE Business School
In The Press
Why us
We are different than traditional private equity and corporate buyers. Our objective is to focus our efforts on one company to preserve built legacy and further develop the business over long-term
MANAGEMENT SOLUTION
Kirils will take a key operational role at the acquired company, relocate close to operations and dedicate all his time to the business. He will be supported by a motivated and highly experienced board
SINGLE ACQUISITION FOCUS
We are looking to acquire only one company and focus our time on creating value and preserving the legacy that current owners built
Long-term vision
We do not have a set time horizon and we value building up companies and invest in people over time. We do not pursue short-term tactics to maximize returns
Smart capital
Our capital comes from seasoned entrepreneurs, successful CEOs and experienced investors who are willing to play an active role in the future of the acquired company
Flexible structure
We structure the transaction that best aligns with owners’ plans, ambitions and lifestyle. We are open to owners staying just for a transition period or continue their involvement with the company
Respect
We know the sacrifices that were made to build a successful business and caring owners reassure us. We will protect and value existing employees
Acquisition criteria
The criteria below represent the attributes we seek when considering an acquisition opportunity. We do not expect that a company will possess all of these attributes to be an attractive business to acquire
Company
• Based in the Baltic or Nordic regions
• Diverse and repeat customer base
• Recurring revenue
• Not a turnaround situation or early-stage venture
Financials
• EBITDA: €0.8m+
• EBITDA margin: 10%+
• Last 3 years of profitability
• Positive cash flow
Industry
• Strong sector growth
• Large and fragmented market
• Low cyclicality
• Low regulatory pressures
Owner
• Seeking to retire or exit without a clear successor in place; or
• Wants to step back into a more focused role
• Committed to a careful transition process
Process
Selling a business can be an overwhelming process. Our approach is efficient, transparent and fair
01.
Introductory call
Start with a video call for mutual introductions, discuss your company, industry and exit motivation
Sign a non-disclosure agreement (NDA) to ensure confidentiality of sensitive company information
02.
Information review
Review shared company information and assess fit
Research long-term growth opportunities and how value can be added
Meet the owners face to face and conduct a site visit
Sign a non-binding indication of interest (IOI) agreement reflecting the high-level terms of the deal, indicative valuation range and timeline
03.
Due diligence
Complete due diligence to verify commercial, operational, financial, tax and legal information
Deep dive in company’s team structure and growth opportunities
Sign a letter of intent (LOI) as a formal non-binding offer to buy your company with a refined purchase price and specific deal terms
04.
Close
Finalise due diligence steps
Review the exact terms of transaction and agree on all points
Sign final legal documentation, transfer the funds and close the deal
Contact
If you are a business owner or intermediary interested in selling a company, please contact Kirils for a confidential discussion
Terbatas iela 14, Riga, Latvia, LV1011
[email protected]
+37128904000
Pine Coast Capital OÜ