Industry Newsroom

BaltCap to Exit auto24 to Apax-Backed Baltic Classifieds Group

BaltCap, a private equity firm focused on the Baltic countries, has agreed to sell Estonia-based online advertising company auto24 to Baltic Classifieds Group, a Lithuania-based advertising company owned by global private equity advisor Apax Partners. auto24 operates automotive classifieds portal itsauto24.ee and generalist classifieds website kuldnebors.ee. BaltCap and auto24’s management acquired the company from Finland-based media conglomerate Sanoma Media Finland in 2017. Financial details of the transaction, which is subject to regulatory approvals, were not disclosed.