Baltcom's dynamic growth
Our portfolio company, Baltcom, has invested around EUR7 million since 2015 in modernizing its infrastructure and services. In 2016, Baltcom obtained mezzanine financing from a private investment fund, Providence Equity Partners, allowing the company to increase infrastructure investment, expand its fiber optical network, provide higher quality of services and expand its offering. It also increased the number of users of its interactive television by 50% y/y.
In accordance with an earlier agreement, we bought additional shares from the minority shareholders and increased our stake in Golpasz S.A. from 67 per cent to 85 per cent. We have been an investor in Golpasz S.A. since December 2015.
Kent Orrgren, CEO at World Class, performed at the European Health and Fitness Forum in Cologne. The 5th annual event brought together top experts from different sectors of the industry and over 400 delegates from 34 countries to discuss human capital in the European fitness sector.