PwC advised Livonia Partners who became co-owners of Stebby
June 2022
PwC advised Livonia Partners, a private equity firm operating in the Baltics, on a buyout transaction in which Livonia Partners and the existing management of Stebby became the owners of Stebby, the largest wellness service marketplace in the Baltics.
PwC Estonia executed the financial due diligence of Stebby and our team included deals experts Teet Tender, Raul Ruubel, Lisette Starostin and Klaudia Sarah Kaar.
Parties to the transaction explained that joining the forces of one of the largest investment funds in the Baltics with Stebby would help Stebby reach its growth goals, further strengthen its position on the Baltic market and provide additional resources for product development and geographic expansion.
Stebby (formerly SportID) that initially served as a platform where businesses could administer their health and sports compensation packages, has now grown into the largest wellness services environment in the Baltics with more than 1,500 companies, 150,000 users and over 2000 wellness partners. Stebby app allows its users to quickly discover and purchase various well-being services, make use of special offers and use the sports compensation provided by their employers.
Livonia Partners is a pan-Baltic private equity investment firm that manages assets worth 230 MEUR. The founding partners and managers of the firm are Kaido Veske, Kristīne Bērziņa, Rain Lõhmus, and Mindaugas Utkevičius. The Livonia team works across the entire Baltics in Estonia, Latvia, and Lithuania.
Fund investors include Baltic and Nordic pension funds, including Swedbank, the European Bank for Reconstruction and Development, the European Investment Fund (EIF) investing through the Baltic Innovation Fund 2 (an initiative created by cooperation between the Republic of Estonia, the Republic of Latvia, the Republic of Lithuania, and the EIF) and others.
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