Together with AXA Private Equity we invested in Baltkom TV
Jointly we acquired the majority stake of SIA Baltcom, the largest Latvian cable television provider. This was the first joint investment by AXA Private Equity and us.
Baltkom TV was established in 1991 in Riga. It is the largest cable television provider in Latvia. It offers analogue and interactive digital TV, high-speed internet and fixed line telephone services in 15 cities, with Riga being the major one. Baltcom has a next-generation network (NGN) and offers broadband internet and HD digital television.
Together with AXA Private Equity we have unparalleled experience in investing in the telecommunications sector in such countries as France, Poland, the Baltic States, Bulgaria, Scandinavia and on other international markets.
“This transaction is representative of the significant investment opportunities we are seeing in this region of Europe, particularly in technology assets. Using our resources, sector experience and networks of both AXA Private Equity and Resource Partners, we look forward to supporting the management team in implementing a growth strategy for Baltkom,” said Thomas Wilfling, Managing Director of AXA Private Equity, Central and Eastern Europe.
PeterisSmidre, who will remain the CEO of Baltkom, welcomed the new investors by saying: “We are delighted that AXA Private Equity and Resource Partners have decided to invest in Baltkom. Their commitment will enable us to strengthen our market position through further development of our network, introduction of new services for customers and by selective acquisitions as we continue to grow.”
“We have analyzed Baltic CATV market for a long time and decided to acquire a significant stake in Baltkom, as the company’s expansion potential impressed us. We strongly believe in the company’s further growth and its consolidation potential in Latvia,” said Piotr Noceń, Managing Partner of Resource Partners.
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