Ellex in Estonia advised the sale of Piletilevi

BaltCap, with its BaltCap Private Equity Fund III (BPEF III) acquires majority in Baltic Ticket Holdings OÜ to further back the growth of the ticket selling network in the Baltics and beyond. A minority share is acquired by co-investor Sven Nuutmann, who will serve as group CEO. The current management team will continue with the company. The transaction is subject to competition clearance.

Founded 1997 in Estonia, Baltic Ticket Holdings (BTH) is the largest ticketing services provider in Estonia, Latvia, Lithuania and Belarus operating Piletilevi AS, Bilesu Serviss SIA, Nacionalinis bilietu platintojas UAB and Kvitki Bel as the main platforms.

Co-investor Sven Nuutmann will also be serving as group CEO. Nuutmann is a seasoned expert in the media industry and he brings extensive experience in building companies as a CEO. „This investment allows to further develop BTH platforms and improve its service offering. The business and the management team are familiar to me, and thus provide a smooth transition into my new role. I’m eager to start a new chapter of BTH growth story with the current team,” Nuutmann commented.

Oliver Kullman, partner at BaltCap sees growth potential in the market and values BTH track record in digital ticketing solutions. “Although 2020 was a rough year for culture and entertainment, we believe the market will quickly recover once Covid-19 restrictions are eased. We plan to use the recovery phase to invest in upgrading the company’s digital products and solutions,” Kullman comments. “I look forward to working with the current management team, who have developed the group to its current position, and welcome Sven’s extensive experience that will help develop BTH further,” Kullman adds.

Private Equity Fund III (BPEF III) invests in innovative companies in the Baltic and Nordic countries following buy-and-build strategy. BPEF III was established in co-operation with European Investment Fund (EIF), the European Bank for Reconstruction & Development (EBRD), the Nordic Environment Finance Corporation (NEFCO), LHV pension funds, SEB pension funds from Estonia, Latvia and Lithuania, eQ Asset Management and also family offices.

Baltic Ticket Holdings OÜ is the holding company operating AS Piletilevi, Bilesu Serviss SIA, Nacionalinis bilietu platintojas UAB, Kvitki Bel companies in Estonia, Latvia, Lithuania, and Belarus, respectively. The company provides ticketing services via its websites (www.piletilevi.ee, www.bilesuserviss.lv, www.bilietai.lt and www.kvitki.by) as well as more than 700 sales points.

The seller was advised on the deal by Ellex partner in Estonia Martin Käerdi.

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Person Item Background

Martin Käerdi, Dr. iur.

Partner / Estonia