Ellex in Estonia advised BaltCap on the sale of auto24.
BaltCap Private Equity Fund II (BPEF II) has entered into an agreement to sell auto24, a leading automotive classifieds portal in Estonia, to Baltic Classifieds Group.
BaltCap was advised by Ellex team in Estonia which was led by Partner Ermo Kosk and included Counsel Toomas Kasesalu, Senior Associates Sandra Värk and Dmitri Rozenblat and Associate Merlin Liis.
Founded in Tartu and headquartered in Tallinn, Estonia, auto24 is a leading automotive classifieds business in the country connecting buyers and sellers through itsauto24.ee portal. It also operates a generalist classifieds site (kuldnebors.ee) in a variety of categories.
BaltCap Private Equity Fund II (BPEF II) makes equity investments in innovative companies based in the Baltic region focusing on buy-and-build opportunities. BPEF II was established in cooperation with the European Investment Fund (EIF) involved in the project through the Baltic Innovation Fund (BIF).
Baltic Classifieds Group is a portfolio of online platforms in the Baltics, specialising in five key markets: specialised classifieds for automotive, real estate and jobs; generalist classifieds; and ecommerce.