Ardian and Resource Partners have increased their joint investment in SIA Baltcom TV, Latvia’s largest cable television operator, by completing the buyout of a minority shareholder.
This transaction strengthens Ardian’s and Resource Partners’ strategic partnership, having initially invested in Baltcom in May 2011.
Baltcom TV SIA was founded in 1991. It is one of the leading telecommunication companies in Latvia, offering analogue and interactive digital TV, high-speed internet and fixed telephony services and, since August 2013, electric energy retail distribution for households.
Ardian and Resource Partners have considerable experience in investing in telecommunication and cable television companies, collectively in France, Poland, the Baltic States, Bulgaria, Scandinavia and in other international markets.
Marton Hunek, director at Ardian, says: “This additional investment is a further indication of Ardian’s continuing long-term commitment to Baltcom and its management team. We look forward to working with the company as it continues to expand organically and through acquisitions in the fast-growing Latvian economy.”
Piotr Noceń, managing partner of Resource Partners, says: “We were impressed with the pace of Baltcom’s growth and therefore decided to increase our stake in the company. We strongly believe in Baltcom’s future prospects and its ability to consolidate in the Latvian market.”
Ardian and Resource Partners were advised by Sorainen.
