A group of international investment firms have acquired minority stakes in the Estonian job website CV Keskus. GILD Bankers advised the company on the transaction to invest more capital into the fledgling company.
Tiger Global Private Investment Partners IV, Digital Sky Technologies Limited and Bexley International Investments Limited became active investors with the goal of transforming CV Keskus into a strong market leader in the Baltic countries.
The transaction is said to be up to € 8.9 million for acquisition of 75 percent of the company’s shares in two parts over the next three months. Starfox Agents OU, an Estonian firm, managed the acquisition, with the remaining 25 percent of shares set as an option contract effective for 1 January 2010.
CV Keskus (www.cvkeskus.ee)
Raivo Hein and Erko Kundla established CV Keskus in 2000 and has grown the organization into a successful enterprise, assisting employers and potential candidates for employment meet and communicate. The Internet Company focuses on the Baltic market, with representation in the Czech Republic, Hungary, Netherlands, Latvia, Lithuania, Poland and Slovakia.
The turnover for CV Keskus is expected to reach € 1.9 million, with a net profit of € 0.4 million. The owners of the company are investment firms OU Kakssada Kakskummend Volti and OU Justkull.
Tiger Global Management
Tiger Global Private Investment Partners is a New York-based private equity fund. The company works in the international markets, making investments into middle market companies in Asia and the CEE sectors. The firm specializes in companies ranging from € 2 million to € 80 million. Tiger Global Partners works and an intermediary, bringing sellers of private companies together with potential buyers.
Digital Sky Technolgies
Digital Sky Technologies Limited is a Russian investment house with assets between € 1 and 2 billion. The company is the minority stakeholder in Russian social networking sites Odnaklassniki.ru and Vkontakte, as well as recruitment site Headhunter. The company focuses on investment opportunities throughout Russia and the CEE markets.
Bexley International Investments
Bexley International Investments Limited was established in 2001. The company operates as a private equity firm focusing on the emerging European markets.