INVL Fund and Tesonet to Jointly Acquire Šiaurės Licėjus Schools and Kindergartens

Technology Group Tesonet and one of the leading private equity funds in Central and Eastern Europe, INVL Private Equity Fund II, having decided earlier this year to invest jointly in the private education sector, will acquire the Šiaurės Licėjus network of schools and kindergartens. The companies will execute the project through a joint venture Kurianti Karta. This transaction aims to develop high-quality private education in Lithuania that meets contemporary needs.

The transaction is expected to close by the end of 2026, subject to approval from the Lithuanian Competition Council.

Šiaurės Licėjus, which launched operations more than a decade ago, currently operates two schools, three kindergartens, and a swimming pool and extracurricular activities center in Vilnius. Nearly one thousand students and kindergarteners attend the school and kindergarten facilities.

The incoming owners are committed to building a high-quality learning ecosystem.

"To achieve the highest standard of education, it is essential to create the best conditions for it to flourish. This matters to us personally — this is our home — so we see this not merely as a business investment, but as a drive to directly contribute to an environment and the opportunities that will nurture a free-thinking, creative, and courageous generation, and to help improve and expand both quality and accessibility," says Eglė Eidimtaitė, Head of Investments at the Tesonet Group.

"The examples of many of the world's most successful countries demonstrate that private investment enhances the quality of education and creates value for society and investors alike. Together with the Tesonet team, we aim to create the conditions for the school and kindergarten network to grow by investing in infrastructure and continuously raising the standard of education," says Nerijus Drobavičius, Partner at INVL Private Equity Fund II.

Eglė Sidorova, Head of Šiaurės Licėjus, notes that the arrival of a new strategic partner represents a meaningful recognition of the organization's journey to date — and, at the same time, an opportunity to plan the future with even greater ambition. In recent years, Šiaurės Licėjus has consistently invested in growth. The school and kindergarten in Didžioji Riešė are already operating in a new, modern building featuring dedicated learning, sports, and swimming pool facilities, and within the next year the Central campus plans to relocate to entirely new school, kindergarten, and swimming pool premises.

"This decision is an important recognition for us, one that confirms that the educational system built over many years of dedicated work, the team we have assembled, and the trust of our community carry clear long-term value. We are gaining a strong partner with whom we can invest consistently in educational quality, the learning environment, and our educators' professional growth. What matters most to us is that students, parents, and staff experience this change as an opportunity to grow, while preserving the values and educational direction of Šiaurės Licėjus," says E. Sidorova.

Šiaurės Licėjus generated EUR 8.8 million in revenue in the 2025–2026 academic year, and the group employs approximately 180 people. The buyer's financial advisor was Forvis Mazars, and its legal advisor was Motieka & Audzevičius. The seller's legal advisors were Glimstedt.

About INVL Private Equity Fund II
With EUR 410 million of commitments, this is one of the leading private equity funds in Central and Eastern Europe. The fund is sector-agnostic and is looking to build a diversified portfolio investing in companies with the potential to become regional leaders in their respective industries. Equity tickets range between EUR 10 million and EUR 60 million, though larger tickets are possible with co-investors. The fund is seeking majority or significant minority stakes where it could drive long-term value creation. The focus is on businesses with strong potential to grow and compete amid intensifying global competition. Geographically, the fund is targeting opportunities in the Baltic countries, Poland, and the broader European Union.
The fund is managed by INVL Asset Management, the leading Baltic alternative asset manager, which is a part of the Invalda INVL Group with over 30 years of experience. The group’s companies manage or have under supervision EUR 2.1 billion in assets across a diverse range of investment strategies, including private equity, forests and agricultural land, renewable energy, real estate, and private debt. Additionally, the group provides family office services in Lithuania, Latvia and Estonia, manages pension funds in Latvia, and invests in global third-party funds.

About Tesonet
Tesonet is a business developer and investor that has helped grow two Lithuanian unicorns: cybersecurity market leaders NordSecurity + Surfshark, and the internet data infrastructure group Oxylabs. Over a year ago, Tesonet launched the artificial intelligence platform nexos.ai, and companies nurtured within its ecosystem now employ more than 4,200 professionals.
Since 2018, Tesonet has also been actively investing in a broader portfolio of companies, including Hostinger, Artea, BC Žalgiris, BC Lions Club, Cast AI, Eneba, Turing College, Lovable, and others.

About Šiaurės licėjus
Šiaurės Licėjus is a private network of schools and kindergartens in Vilnius, educating children from one year of age through 12th grade. The network comprises schools in Vilnius city centre and Didžioji Riešė, three kindergartens, and a complex featuring a swimming pool and an extracurricular activities centre.
The educational philosophy of Šiaurės Licėjus is rooted in Nordic education principles, balancing child well-being with academic achievement through integrated and experiential learning as well as social and emotional development. The school was the first in Lithuania to implement phenomenon-based learning. Its Nordic approach to education is captured in the school's motto: "Happy children learn better."
Today, the Šiaurės Licėjus community numbers nearly one thousand students and kindergarteners, supported by 180 staff members. Since the previous academic year, the Didžioji Riešė school has been operating in a modern, architecturally distinctive building where learning spaces are seamlessly integrated with sports, swimming pool, and leisure areas. By September 2027, the city centre school will also open its doors in a state-of-the-art building designed to meet not only today's educational needs but those of the future as well.

Further information:
Nerijus Drobavičius, Partner at INVL Private Equity Fund II
nerijus.drobavicius@invl.com