Resource Partners Acquires Deeper, Global Market Leader In Castable Sonars
Today, Resource Partners, one of the leading private equity investors in the CEE region, and the management team of Deeper, the leading global specialist in castable sonars for anglers, announced a buyout of the company from the Co-Founders, Aurelijus Liubinas and Rolandas Sereika, and the financial investor Gemini Grupė. The new investors will become the majority shareholders in the company and will be supported by Mr. Donatas Malinauskas, who will continue in his role as CEO.
Since its inception in 2012, Deeper has focused on developing and marketing the best-in-class castable sonars used by anglers. Deeper’s sonars allow users to observe the fish and certain features of the water basin on a smartphone or tablet, which is connected to the sonar device through Wi-Fi. Over the years, the Company’s product range has expanded with technologically advanced products, which eventually led Deeper to become the undisputable global market leader in the castable sonars category.
“I am very proud that we will now have the opportunity to support the management team in the further expansion of Deeper. Through unique technological expertise in producing castable sonars and an efficient marketing strategy, the management team has been able to become the market leader with sales in more than 50 countries around the world. As a consumer-focused investor, we will be focusing on countries that present the highest potential to increase the awareness of these products, such as the USA. We are also planning to leverage the brand strength of Deeper and its worldwide distribution network with the introduction of related product categories.” said Piotr Noceń, Co-Founder and Managing Partner at Resource Partners.
“It has been an exceptional journey for all of the founders. Growing from a small start-up to a globally recognized brand was very challenging. We would like to thank all the international and local talents who spent numerous hours turning our idea into a reality. We have built a network of 50+ partners globally and 400+ international brand ambassadors, and we have received 40+ international and local awards. Deeper has also become the best-rated product in the category by global users on numerous marketplaces and application stores. These are only a few of the achievements our team has reached. We hope the company and the management team will keep on the same trajectory and continue being one the most successful businesses in Lithuania.” said Aurelijus Liubinas and Rolandas Sereika, Co-Founders of Deeper.
“Deeper was the jewel in our portfolio. We never hesitated to back the founders in 2012 and to finance the company’s growth, all the way from a garage start-up to a global leader. It has been an inspirational and fruitful journey. Lithuania needs more entrepreneurs like Aurelijus, Rolandas and Donatas” explained Tomas Langaitis, Head of Development at Gemini Grupė.
“It is a big honor to lead the Deeper team in building world-class products for anglers around the globe. I am very grateful for having the opportunity to build such a great brand and working with Aurelijus, Rolandas, and Gemini Grupė. The Deeper team is now looking forward to delivering new world-class products and solutions for the growing community of anglers, helping them to find the best fishing spots and enjoy the best fishing experiences. I believe that working with Resource Partners will lead to even faster growth of the company and better satisfaction of anglers.” revealed Donatas Malinauskas, Co-Founder and CEO of Deeper UAB
Resource Partners were advised by Cobalt, EY, onefourzero and Ramboll.
Deeper’s owners were advised by Oaklins and Sorainen.
Information source: Resource Partners.