Cobalt has advised BaltCap Private Equity Fund III and its co-investor Sven Nuutmann on the acquisition of 100% of the shares in Baltic Ticket Holdings OU. Ellex reportedly advised the sellers on the transaction, which remains subject to competition clearance.
Baltic Ticket Holdings, founded in 1997, is the largest ticketing services provider in Estonia, Latvia, Lithuania, and Belarus, and it operates Piletilevi AS, Bilesu Serviss SIA, Nacionalinis Bilietu Platintojas UAB, and Kvitki Bel as its main platforms.
According to Cobalt, Private Equity Fund III invests in “innovative companies in the Baltic and Nordic countries following buy-and-build strategy." According to the firm, “BPEF III was established in co-operation with European Investment Fund, the European Bank for Reconstruction & Development, the Nordic Environment Finance Corporation, LHV pension funds, SEB pension funds from Estonia, Latvia, and Lithuania, eQ Asset Management and also family offices.”
Cobalt’s team included, in Estonia, Partners Peeter Kutman and Elo Tamm, Senior Associate Madis Reppo, and Associate Tiit-Gregor Mets; in Latvia, Partners Guntars Zīle and Ugis Zeltins and Associate Vadims Zvicevics; in Lithuania, Partner Elijus Burgis and Senior Associate Julija Aleska; and, in Belarus, Partner Darya Zhuk and Managing Associate Anastasia Bykowskaya.
Editor's note: After this article was published, Ellex announced that its team had been led by Partner Martin Kaerdi.