Up Invest buys Digiekraanid and Megameedia

Up Invest focuses on investments in healthcare, media, consumer, real estate and green technology. Its portfolio of 12 companies has a combined turnover of €515m.

The GP will use the special purpose acquisition vehicle Media Investments & Holding for the transaction and plans to expand the business into Latvia and Lithuania.

Out of Home Group mandated Oaklins M&A Baltics to evaluate strategic options in January, according to Unquote sister publication Mergermarket.

Company
Digiekraanid and Megameedia are subsidiaries of Out of Home Group, an Estonian outdoor advertising company founded in 2007. The entire group generated EBITDA of €1.37m from revenues of €7.3m in 2018, according to a local press report.

People
Up Invest – Sven Nuutmann (CEO).

Advisers
Vendor – Oaklins M&A Baltics (corporate finance).

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