Technology group Tesonet and INVL Private Equity Fund II, one of the leading private equity funds in Central and Eastern Europe, will jointly invest in Lithuania’s private education sector through the acquisition of the Šiaurės licėjus network of schools and kindergartens. The transaction will be completed through a jointly owned company, Kurianti karta.

The investment marks a long-term commitment by Tesonet and INVL Private Equity Fund II to the development of private education in Lithuania. Together with the Šiaurės licėjus team, the new partners aim to further develop a high-quality, modern educational ecosystem that meets the evolving needs of children and families.

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

Investing in the future of education

Šiaurės licėjus began operating more than a decade ago and today comprises two schools, three kindergartens, and a swimming and extracurricular activities centre in Vilnius. The network serves nearly 1,000 students and children and employs approximately 180 people.

According to Eglė Eidimtaitė, Head of Investments at Tesonet, the investment is about more than business growth — it is an opportunity to contribute directly to the environment in which future generations grow and learn.

“Achieving the highest quality in education requires creating the right conditions for it to thrive. This matters to us because this is our home. We see this not only as an investment in a business, but as an opportunity to contribute directly to an environment and opportunities that will help develop free, creative and courageous young people, while continuously improving the quality and accessibility of education.”

Nerijus Drobavičius, Partner at INVL Private Equity Fund II, says that private investment can play an important role in improving the quality of education and creating long-term value for society.

“The experience of many of the world’s most successful countries shows that private investment can improve the quality of education and create value both for society and for investors. Together with the Tesonet team, we want to create the conditions for the school and kindergarten network to grow by investing in infrastructure and further improving the quality of education.”

A new chapter in Šiaurės licėjus’ growth

Šiaurės licėjus CEO Eglė Sidorova views the arrival of a new strategic partner as recognition of the organisation’s journey to date and an opportunity to plan for the future with even greater ambition.

In recent years, Šiaurės licėjus has consistently invested in its growth. Its school and kindergarten in Didžioji Riešė already operate from a new, modern facility featuring educational, sports and swimming spaces. In September 2027, the school’s central Vilnius campus is also expected to move into newly built facilities designed to accommodate a school, kindergarten and swimming centre.

“This decision is an important recognition for us, demonstrating that the educational system we have built over many years, the team we have brought together and the trust of our community have clear long-term value. We are gaining a strong partner with whom we can continue investing consistently in the quality of education, our learning environment and the professional growth of our teachers. Most importantly, we want students, parents and employees to experience this change as an opportunity to grow, while preserving the values and educational approach of Šiaurės licėjus,” says Eglė Sidorova.

Šiaurės licėjus generated €8.8 million in revenue during the 2025–2026 academic year.

The buyer’s financial advisor was Forvis Mazars, while its legal advisor was Motieka ir Audzevičius. The seller’s legal advisor was Glimstedt.

About INVL Private Equity Fund II

INVL Private Equity Fund II is a €410 million private equity fund and one of the leading funds in Central and Eastern Europe. The fund has no sector restrictions and seeks to build a diversified portfolio by investing in companies with the potential to become regional leaders in their respective industries.

Investment sizes range from €10 million to €60 million, or higher amounts together with co-investors. The fund seeks majority or significant minority stakes, enabling it to actively contribute to long-term value creation.

INVL Private Equity Fund II focuses on businesses with strong potential to grow and compete in an increasingly global market, with investment opportunities across the Baltic states, Poland and other European Union countries.

The fund is managed by INVL Asset Management, a leading alternative asset manager in the Baltic states and part of the Invalda INVL Group, which has been operating for more than 30 years. The group manages or oversees €2.1 billion in assets across private equity, forestry and agricultural land, renewable energy, real estate and private debt. Its activities also include family office services in Lithuania, Latvia and Estonia, pension fund management in Latvia and investments in global third-party funds.

About Šiaurės licėjus

Šiaurės licėjus is a private network of schools and kindergartens in Vilnius, providing education for children from the age of one through Grade 12. The network includes schools in central Vilnius and Didžioji Riešė, three kindergartens, and a swimming and extracurricular activities centre.

The Šiaurės licėjus educational philosophy is based on Nordic education principles, combining student wellbeing with academic progress, integrated and experiential learning, and social and emotional development. The school was the first in Lithuania to introduce phenomenon-based learning. Its Nordic approach is reflected in its motto: “Happy children learn better.”

The Šiaurės licėjus community currently comprises nearly 1,000 students and kindergarten children and approximately 180 employees. Since the previous academic year, the Didžioji Riešė school has operated from a contemporary building featuring purpose-designed educational, sports, swimming and leisure spaces. In September 2027, the central Vilnius school is also expected to open its doors in a modern new facility designed to meet both today’s and tomorrow’s educational needs.