Luminor Bank continues to support the growth of forestry and logging company LIVO Mežs, granting EUR 1.8 million in financing. The financing will enable the company to increase its logging capacity, expand its operations across the regions, establish new timber yards, as well as increase export volumes and enter new export markets.
Based in Sigulda, the company operates an integrated, full-cycle forestry business model, ranging from the acquisition of forest properties, logging rights and standing timber to logging, timber transportation, storage and sales. By steadily developing its technical and logistics capacity, LIVO Mežs is able to efficiently manage the entire forestry value chain.
“In the forestry sector, a company’s competitiveness is increasingly determined by its ability to efficiently manage the entire value chain – from sourcing raw materials and logging to selling timber in the most favourable markets. In recent years, LIVO Mežs has consistently developed both its technical capacity and export capabilities, with its growth underpinned by a clear business model. We are pleased to continue our cooperation and support the company’s next stage of development with additional financing,” says Ilze Zoltnere, Head of the Corporate Department at Luminor Bank in Latvia.
The additional financing will provide the company with working capital for the acquisition of forest properties, logging rights, standing timber and harvested timber. It will also be used to expand sales and exports, including financing longer settlement cycles. The increased revolving leasing limit will allow the company to continue developing and expanding its machinery fleet, increasing logging capacity and enabling a larger share of operations to be carried out in-house.
“In recent years, the company’s growth has been closely linked to investments in machinery and our ability to carry out an increasing share of forestry operations ourselves. Luminor’s total financing to the company in recent years has already reached EUR 4 million. Our goal is to continue increasing logging and timber trading volumes while maintaining flexibility to find the most suitable market for each timber assortment. We select the most appropriate sales channels for each timber assortment, allowing us to respond flexibly to market conditions and take advantage of opportunities both in Latvia and in export markets. The additional financing will enable us to continue investing in technical capacity, expand our regional operations and pursue new growth opportunities both in Latvia and in export markets,” says Ivo Gabrāns, owner of LIVO Mežs.
The company is currently expanding its regional operations by establishing new timber yards and developing its logistics capabilities. At the same time, LIVO Mežs is increasing its logging and timber trading volumes, expanding its international customer base and exploring opportunities to enter new export markets. To support the growing volume of operations, the company will continue investing in strengthening its technical capacity and expanding its forestry machinery fleet.
In recent years, LIVO Mežs has made significant investments in strengthening its technical capacity, and in May 2026 the carrying value of the company’s fixed assets exceeded EUR 2.4 million. Investments in its machinery fleet have helped reduce reliance on subcontractors, improve operational efficiency and maintain control over the quality and timely completion of work. The company plans to continue increasing the share of logging operations carried out in-house.
The company has also developed its own logistics infrastructure. It owns a timber yard in Sigulda, while the RCT port terminal in Riga provides timber storage, logistics and export services. A diverse range of sales channels enables the company to direct timber to the most favourable domestic and export markets, reducing its dependence on individual buyers and supporting profitability. At the same time, the company is expanding its regional operations and international customer base to increase export volumes.
