BaltCap acquires stake in Runway
BaltCap has acquired a 40.82% stake in business process outsourcing service provider SIA Runway.
The stake has been acquired from the company's largest shareholder, Norwegian firm Dasha AS. Equity for the transaction has been provided by BaltCap Private Equity Fund. The investor believes the company has potential for further expansion in the Scandinavian and Western European markets.
Runway is active in the Baltic States and has offices in Riga, Tallinn, Vilnius and Kaunas. The company provides CRM, IT support, accounting and other services to businesses in the Nordic market. Revenue in 2010 increased by 49%, from €5.39m in 2009 to €8.01m.
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