Latvian cable TV operator SIA Baltkom TV has new ownership after two of Europe’s leading private equity investors joined forces to acquire the company. AXA Private Equity and Resource Partners have agreed to a transaction which allows them to purchase Baltkom together. The two investors entered into a strategic partnership nearly one year ago, and this acquisition represents the first transaction to come from that partnership.
SIA Baltkom TV (www.baltkom.lv)
Baltkom is a leading telecommunications provider in Latvia offering cable television, Internet access, and telephony services. Its main service area is Riga but the company does extend services to other Baltic cities.
A high-speed fiber-optic network is the centerpiece of the company’s operations; a network that continues to expand. Baltkom was founded in 1991 and is based in Riga.
Resource Partners (www.resourcepartners.eu)
Resource Partners is a blue-chip supported private equity firm investing in small and mid-sized enterprises in a variety of sectors.
The firm takes on projects mainly in Central and Eastern Europe and prefers the agricultural, healthcare, consumer goods, and manufacturing sectors. A typical transaction sees a minimum investment of €5 million.
The firm currently claims total assets under management in excess of €158 million.
AXA Private Equity (www.axaprivateequity.com)
AXA Private Equity is a global investments enterprise active in Asia, Europe, and North America. The firm currently has €17.5 billion in assets spread across a wide variety of sectors. The company invests through buyouts, co-investments, mezzanine funding, and venture capital.
Long-term, sustainable growth is the main goal of AXA projects, and the firm helps portfolio companies reach that goal through full access to the entire AXA global network of resources.
The firm operates around the world from offices in Paris, New York, and Singapore, among others.