Axa PE- and Resource-backed Baltcom buys Izzi

Following the deal, both Baltcom and Izzi will continue to operate as separate legal entities.

The deal highlights Baltcom's growth strategy of widening its presence in Latvia through market consolidation. The transaction sees Baltcom increasing the reach of its services by 30%. This is Baltcom's sixth add-on deal since Axa PE and Resource Partners invested in 2011.

Previous funding
Axa PE and Resource Partners jointly acquired a majority stake in Baltcom in April 2011. Minority shareholders include Sate JSC Latvian Radio and Television Centre, RPAX One and Mackonar Impex.

Company
Established in 1994, Izzi is a Latvian cable television service provider. It provides digital, analogue and internet protocol television services as well as broadband internet and fixed telephony. The company was acquired in August 2008 by a financial investor.

Baltcom was founded in 1991 and offers analogue and interactive digital television, as well as high-speed internet and fixed telephony services.

People
Vojko Rovere is the CEO of Baltcom. Andris Zelonka is a board member of Izzi. Marton Hunek is a director at Axa PE. Piotr Noceń is managing partner of Resource Partners.

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• Topics
• Portfolio management
• CEE
• Media
• Latvia
• Axa Private Equity
• Resource Partners Sp. z o.o.