Vizii Urban poised to acquire another 2% of Tranzīts L shares

To expand its regional presence, the CleanR Grupa urban services firm Vizii Urban is to acquire another 2% of Tranzīts L’s shares, informs Valdis Purvinskis, Vizii Urban’s Chairman of the Board.

In December 2024, Vizii Urban announced the acquisition of 49% of Tranzīts L’s shares. Upon acquiring another 2% of the company, Vizii Urban will become a majority shareholder.

The aim of this investment is to foster Vizii Urban’s regional expansion in Latvia and facilitate competence transfer within the company, thus improving service quality.

“By joining forces, including Vizii Urban’s investments in the technical capabilities, we will be able to provide better service to our customers and raise the overall urban services standard,” emphasizes Purvinskis.

Tranzīts L currently provides a wide range of services including territory cleaning and maintenance, as well as improvement of urban areas. The acquisition of the company will allow Vizii Urban to increase its service quality standards regionally. The value of the deal is confidential.

According to the provisions of the Competition Law of Latvia, upon initiating the acquisition of another 2% of Tranzīts L’s shares, Vizii Urban has filed for approval of the deal with the Competition Council of Latvia.

Not only is the deal likely to strengthen the existing quality of Tranzīts L’s services but it will also facilitate the introduction and use of new technological solutions in the company’s daily operations. This includes investments in the regional infrastructure, fostering more environment-friendly and efficient resource management.