Baltic buyout fund manager BaltCap has fully acquired cars-focused online marketplace operator Sanoma Baltics alongside the management team.
The deal saw the GP acquire a stake in the business via its second vehicle, BaltCap Private Equity Fund II, alongside the company’s management team.
According to a statement, previous owner Sanoma Media Finland reaped €10m from the sale. Estonian pension fund LHV provided an undisclosed amount of financing to support the transaction.
The company aims to use the fresh capital to expand its product offering and boost its presence in the Estonian market.
Sanoma Baltics operates several online marketplaces with a focus on cars, motorbikes, boats and heavy equipment, as well as construction materials, agricultural equipment, pet products and household goods. The business targets the Estonian market and currently has a headcount of 20.
Founded in 1992 and headquartered in Tallinn, the business generated a turnover of €4.4m in 2016.
BaltCap – Oliver Kullman (partner).
Sanoma Baltics – Margus Tomberg (CEO).
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Heikki Westerlund had taken up his position in 2013 and will stay on until a replacement is appointed
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