The BaltCap Private Equity Fund III (BPEF III) will acquire a majority stake in Baltic Ticket Holdings OD to support its growth in the Baltics and beyond, BaltCap AIFP reports.
The minority rights in the company will be acquired by co-investor Sven Nuutmann, who will act as CEO of the group. The current management team will continue to work for the company. The permission of the Competition Council is required to complete the transaction.
Baltic Ticket Holdings (BTH), established in 1997 in Estonia, provides ticketing services in Estonia, Latvia, Lithuania and Belarus and includes Piletilevi AS, Biļešu Serviss SIA, Nacionalinis bilietu platintojas “UAB and” Kvitki Bel “.
BTH ‘s core business is ticketing through digital platforms and more than 700 face – to – face ticket outlets. In 2019, the company sold more than 6 million tickets and covered 36,000 events. In addition, BTH offers marketing and consulting services, software and ticketing equipment for event organizers. BTH has experience in serving cultural and sporting events, including the largest events in the area with more than 100,000 participants.
“The transaction will promote the development of BTH’s online platforms and improve service delivery. Both the business and the management team are familiar to me, so I hope to join the new role quickly. Together with the current company team, I want to start a new phase of BTH development “, he commented. He has accumulated extensive experience in managing the development of various companies, as well as is an experienced expert in the media industry.
Jaanus Beilmann, a longtime member of the Board of Directors of BTH, points out that the investment confirms the international competitiveness of the company based in Estonia. He is happy to work with new business owners. “Sven and the BaltCap team have made significant strides in developing digital business strategies. Based on their experience and BaltCap presence in the Nordic countries, we will be able to ensure the successful development of BTH in the future,” says J. Beilmanns.
Oliver Kullman, a partner at BaltCap, points out the company’s growth potential in the marketplace and evaluates BTH’s achievements in digital ticketing solutions.
“Although 2020 was a difficult year for the cultural and entertainment industry, we believe the market will recover quickly after the Covid-19 restrictions were lifted. We intend to use this post-crisis phase to invest in improving the company’s digital products and solutions. I am happy to work with the current management. team, the value of which is the development of the group so far, and I welcome the extensive experience of Sven, which will ensure the development of BTH in the future “, adds O. Kulmans.
The deal was updated by Cobalt, PwC and Civitta. The transaction value and other details are not disclosed.