Skip to content
Back to Homepage

The Entrepreneur of the Year by Äripäev is Ain Hanschmidt

In an interview with Äripäev, Ain Hanschmidt, one of the founders and majority owners of Infortar, referred to the ending year as one of the most exciting in his entire career, arguably the best ever: "Infortar made the biggest profit ever – 270 million euros in nine months. We also acquired the Latvian infrastructure company Gaso and went public. Three major accomplishments. As they say – a hat trick!"

Äripäev recalls that Eesti Gaas, owned by Infortar, purchased the Latvian gas distribution network owner Gaso for 120 million euros. The Latvian gas network, with nearly 400,000 consumers, is almost four times larger than Gaasivõrk in Estonia. This marked the largest investment beyond Estonia's borders by Estonian companies in recent years. It's noteworthy that every third gas molecule sold in the Finland-Baltic market is brought to this region by Eesti Gaas.

In addition, Infortar took a risk during challenging times and successfully went public in December. The initial public offering of shares was oversubscribed 1.3 times. The company raised a total of 41.4 million euros. Infortar's IPO attracted the participation of nearly 5,500 retail investors from Estonia and professional investors from Europe.