Private equity firms Ardian and Resource Partners have increased their joint stake in Baltcom. No financial terms were disclosed. Sorainen advised Ardian and Resource Partners on the transaction. in Latvia, Baltcom is an entertainment and telecom company.
Riga, Paris, Warsaw, December 19th 2013. Ardian, the premium independent private investment company and Resource Partners, a Central and Eastern European private equity investor, today announce that they have increased their joint investment in SIA Baltcom TV (Baltcom), Latvia’s largest cable television operator, by completing the buyout of a minority shareholder. This transaction strengthens Ardian’s and Resource Partners’ strategic partnership, having initially invested in Baltcom in May 2011.
Baltcom TV SIA, was founded in 1991. It is one of the leading telecommunication companies in Latvia, offering analogue and interactive digital TV, high-speed internet and fixed telephony services and, since August 2013, electric energy retail distribution for households.
Ardian and Resource Partners have considerable experience in investing in telecommunication and cable television companies, collectively in France, Poland, the Baltic States, Bulgaria, Scandinavia and in other international markets.
Marton Hunek, Director at Ardian, said: “This additional investment is a further indication of Ardian’s continuing long-term commitment to Baltcom and its management team. We look forward to working with the Company as it continues to expand organically and through acquisitions in the fast-growing Latvian economy.”
Piotr Noceń, Managing Partner of Resource Partners, said; “We were impressed with the pace of Baltcom’s growth and therefore decided to increase our stake in the Company. We strongly believe in Baltcom’s future prospects and its ability to consolidate in the Latvian market.”
Ardian and Resource Partners were advised by Sorainen.
Baltcom TV SIA, was founded in 1991. Baltcom is one of the leading telecommunication companies in Latvia, it offers analogue and interactive digital TV, high-speed internet and fixed telephony services and since August, 2013 – electric energy retail distribution for households. Baltcom TV shareholders are RPAX One S.A. and State JSC Latvian Radio and Television Centre.
Founded in 1996 and led by Dominique Senequier, Ardian is a premium independent private investment company with assets of US$36bn managed or advised in Europe, North America and Asia. The company, which is majority-owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world. Ardian’s investment process blends discipline and conviction with a long-term philosophy.
Ardian maintains a truly global network, with more than 320 employees working through ten offices in Beijing, Frankfurt, Jersey, London, Luxembourg, Milan, New York, Paris, Singapore, and Zurich. The company offers its 255 investors a diversified choice of funds covering the full range of asset classes, including Funds of Funds (primary, early secondary and secondary), Direct Funds including Infrastructure, Small and Mid Market Enterprise Capital, Innovation & Growth, Co-Investment and Private Debt.
ABOUT RESOURCE PARTNERS
Resource Partners is one of the most active private equity investors in Central and Eastern Europe, specializing in growth financing of consumer goods and services companies operating within the region. Resource Partners manages funds provided by leading international financial institutions such as: AXA, European Bank for Reconstruction and Development, European Investment Fund and Rabobank.