INVL Fund and Tesonet Cleared to Acquire Šiaurės Licėjus School and Kindergarten Network

A company linked to Tesonet and the INVL Private Equity Fund II has received approval to take sole control of a private education network in Lithuania.

The Competition Council allowed Kurianti karta to acquire all shares in Mokykla Šiaurės licėjus, Šiaurės darželiai, UNT nuoma and Trys banginiai. The regulator said the planned concentration would neither create or strengthen a dominant position nor severely restrict competition in the relevant markets.

The buyers have said they want to continue developing private education that meets contemporary needs. Kurianti karta invests in companies involved in education from preschool through university level. Its related company, Tesonet Global, controls technology businesses including NordVPN, Nord Security, Surfshark and Incogni, which operate in cybersecurity, data protection and artificial intelligence.

The wider Tesonet-linked group also has interests in sports and event operations. These include the Žalgiris basketball center, Žalgiris ventures and Kaunas Arena, as well as venues and sports clubs in Kaunas. The INVL Private Equity Fund II is involved in healthcare, waste management, street maintenance and retail in Poland and Estonia. Another related fund, INVL Baltic Sea Growth Fund, has investments across several European countries and sectors including engineering, veterinary services, hospitality, food delivery, medicine and manufacturing.

Šiaurės Licėjus began operating more than a decade ago and now has two schools, three kindergartens, a swimming pool and a center for extracurricular activities in Vilnius. Nearly 1,000 pupils and preschool children attend its facilities. The network recorded revenue of 8.8 million euros in the 2025-2026 academic year and employs about 180 people.

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Having assessed the circumstances related to the transaction, the Competition Council concluded that the planned concentration would not create or strengthen a dominant position or significantly restrict competition in the relevant markets.