CapMan acquires minority stake in Russian advertiser Kokoc

The remainder of the company will stay in the hands of the founders. The deal is the fifth for the €99.1m CapMan Russia II fund, which held its final close in 2014 and is expected to make three more deals in total.

CapMan's Russia I fund, launched in 2007, made 12 deals and has currently realised or partially realised three of them. The firm has made more than 40 investments in Russia since 1996, including Maykor, Kidburg, Papa John's, KDL Test, Buka, Inmarko and CTC Media.

Company
Established in 2004, Kokoc is an internet advertising company based in Moscow. It employs 500 staff across its 14 online advertising agencies, which include Kokoc.com, BDBD and ArrowMedia. The group's collective 2016 turnover was €87.1m, with earnings of €21.8m. It specialises in search engine optimisation, contextual advertising, web analytics, display advertising, website construction and copywriting.

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• Buyouts
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