Ellex Raidla advised the sale of Piletilevi
Baltic Ticket Holdings OÜ (BTH), which manages Piletilevi, was acquired by the investment company UP Invest OÜ.
Baltic Ticket Holdings had a turnover of EUR 9.1 million and an operating profit of EUR 3.6 million last year, both figures showing a significant increase over the year. In 2017, the company's turnover was 8.4 million euros and profit 3.1 million euros.
Baltic Ticket Holdings has four subsidiaries – Piletilevi AS in Estonia, SIA Bilešu Serviss in Latvia, UAB Nacionalinis ticket distributor in Lithuania and OOO Kvitki Bel in Belarus.
According to Sven Nuutmann, member of the management board of UP Invest, the investment was spurred by the desire to expand into a completely new business. "We see good growth opportunities in the ticket market, both in the Baltics and in Belarus, where BTH is currently operating, and we highly value the company's development to date and management's contribution," said Nuutmann.