Strengthens strategic private equity partnership into thriving Eastern European cable television sector

Ardian, the premium independent private investment companyand Resource Partners, a Central and Eastern European private equity investor,today announce that they have increased their joint investment in SIA Baltcom TV (Baltcom), Latvia’s largest cable television operator, by completing the buyout of a minority shareholder.This transactionstrengthens Ardian’sand Resource Partners’strategic partnership,havinginitially invested in Baltcom in May 2011.

Baltcom TV SIA, was founded in 1991. Itis one of the leading telecommunication companies in Latvia, offeringanalogue and interactive digital TV, high-speed internet and fixed telephony services and,since August 2013,electric energy retail distribution for households.

Ardian and Resource Partners have considerableexperiencein investing in telecommunication and cable television companies,collectively in France, Poland, the Baltic States, Bulgaria, Scandinavia and in other international markets.

MartonHunek, DirectoratArdian, said: “This additional investment is a further indication of Ardian’s continuing long-term commitment to Baltcom and its management team. We look forward to working with the Company as it continues to expand organically and through acquisitions in the fast-growing Latvian economy."

Piotr Noceñ, Managing Partner of Resource Partners, said; “We were impressedwith the pace of Baltcom’s growthand therefore decided to increaseourstakein the Company. Westrongly believe in Baltcom’s future prospectsand its ability to consolidateinthe Latvian market."

Ardian and Resource Partnerswere advised by Sorainen.

Baltcom TV SIA, was founded in 1991. Baltcomis one of the leading telecommunication companies in Latvia, it offers analogue and interactive digital TV, high-speed internet and fixed telephony services and since August, 2013 –electricenergy retail distributionfor households. Baltcom TV shareholders are RPAX One S.A. and State JSC Latvian Radio and Television Centre.

Founded in 1996 and led by Dominique Senequier, Ardian is a premium independent private investment company with assets of US$36bn managed or advised in Europe, North America and Asia. The company, which is majority-owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world. Ardian’s investment process blends discipline and conviction with a long-term philosophy.

Ardian maintains a truly global network, with more than 320 employees working through ten offices in Beijing, Frankfurt, Jersey, London, Luxembourg, Milan, New York, Paris, Singapore, and Zurich. The company offers its 255 investors a diversified choice of funds covering the full range of asset classes, including Funds of Funds (primary, early secondary and secondary), Direct Funds including Infrastructure, Smalland Mid Market Enterprise Capital, Innovation & Growth, Co-Investment and Private Debt.

Resource Partners is one of the most active private equity investors in Central and Eastern Europe, specializing in growth financing of consumer goods and services companies operating within the region. Resource Partners manages funds provided by leading international financial institutions such as: AXA, European Bank for Reconstruction and Development, European Investment Fund and Rabobank.

Ardian:Dominique Gaillard, Frédéric Collard, Marton Hunek
Resource Partners: Piotr Noceñ, Dan Farcasanu, Adrian Stanculescu


Headland Consultancy
Ben Girdlestone / Luke O’Reilly
+44 20 7367 5243 / +44 20 7367 5235
bgirdlestone@headlandconsultancy.co.uk / loreilly@headlandconsultancy.com

Piotr Noceñ
Managing Partner
+48 22 377 7900