KJK Management advised fund has agreed to acquire Baltik Vairas, a leading e-bike and bicycle manufacturer in Nordics and CEE from LitCapital, a dedicated private equity growth investor in the Baltics. Financial terms were not disclosed. The goal of the investment was to finance the venture for development and manufacturing of electric bicycles in Lithuania. “With continuous support from LitCapital and Asgaard A/S the company focused on adopting LEAN principles by transforming its processes and culture and became one of the most efficient companies in the industry. It now is perfectly positioned to grow further to become an even more serious player in Europe’s cycling industry” Niels Peter Pretzmann, Baltik Vairas Chairman of the Board.