GLIMSTEDT Assists Business Angels Fund II and Business Angel with Investments into Optical Coatings Manufacturer UAB Optonas.
KŪB Verslo angelų fondas II, an investment undertaking intended for informed investors managed by UAB Verslo angelų fondo valdymas, and a private investor (“Business Angel”) signed an investment agreement with optical coatings manufacturer UAB Optonas for up to EUR 1 million investments estimated to be made within a few months. Law Firm GLIMSTEDT, represented by Managing Partner Linas Sesickas, Tax Partner Artūras Bakšys and Senior Associate Lina Zubovienė, acted as a legal advisor to the private investor.
The investments together with the financial aid from the EU funds obtained under the Lithuanian Industry Digitisation project will be utilised for the acquisition by Optonas of modern facilities enabling the company to produce new products to meet the needs of exclusive customers. In 2018, Optonas delivered EUR 0.87 million in turnover and EUR 0.19 million in net profit. With the investments, the company expects its sales to double already in next year.