M&A Deal Summary

Eastnine AB Acquires Starman

On May 7, 2013, private equity real estate Eastnine AB acquired communications company Starman from Bancroft Private Equity for 107M EUR

Acquisition Highlights
  • This is Eastnine AB’s 1st transaction in the Communications sector.
  • This is Eastnine AB’s largest (disclosed) transaction.
  • This is Eastnine AB’s 2nd transaction in Estonia.
Investment Fate
  • Starman was sold to a consortium of financial buyers in 2016 for 81M EUR.
  • Starman was sold to a strategic buyer in 2016 for 151M EUR.

M&A Deal Summary

Date 2013-05-07
Target Starman
Sector Communications
Buyer(s) Eastnine AB
Sellers(s) Bancroft Private Equity
Deal Type Secondary Buyout
Deal Value 107M EUR

Target

Starman

Tallinn, Estonia
website
Starman is a cable TV operator, that provides several bundled service packages offering "triple play" service: video programs, broadband internet connection, and voice telephony. It is also involved in the provision of terrestrial digital video services. Starman was founded in 1992 and is based in Tallinn, Estonia.

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Buyer(S) 1

Buyer
DESCRIPTION

Eastnine AB is a publicly-traded investment firm focused on commercial real estate investment opportunities in the Baltic region of Europe. The Group looks to generate predictable cash flows by being a long-term owner of attractive commercial properties in prime locations. Eastnine AB was established in 2007 and is headquartered in Stockholm, Sweden.


DEAL STATS #
Overall 3 of 3
Sector (Communications) 1 of 1
Type (Secondary Buyout) 1 of 1
Country (Estonia) 2 of 2
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-03 AS TREV-2 Grupp

Tallinn, Estonia

AS TREV-2 Grupp is a construction company focused on the construction and maintenance of facilities. AS TREV-2 Grupp was established in 1961 and is based in Tallinn, Estonia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-14 Starman

Tallinn, Estonia

Starman is a cable TV operator, that provides several bundled service packages offering "triple play" service: video programs, broadband internet connection, and voice telephony. It is also involved in the provision of terrestrial digital video services. Starman was founded in 1992 and is based in Tallinn, Estonia.

Sell €81M

Seller(S) 1

SELLER

Bancroft Private Equity

Vienna, Austria

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 350M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Bancroft Private Equity is a private equity group focused on Eastern Europe, including Greece, the Balkans, and Turkey. The Firm's latest fund looks to invest €10 to €30 million in mature companies, led by experienced management teams with successful track records. Bancroft only considers majority positions and will consider all industries except real estate, tobacco, gambling, and liquor. Bancroft was originally established in 1989 and is based in Vienna.


DEAL STATS #
Overall 11 of 11
Sector (Communications) 2 of 2
Type (Secondary Buyout) 2 of 2
Country (Estonia) 1 of 1
Year (2013) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-26 Tatilsepeti

Istanbul, Turkey

Tatilsepeti is a tourism portal that has been serving millions of visitors with holiday options. Tatilsepeti.com is the major tourism portal in Turkey with over 18 million visitors, 10 million of which are unique visitors. Tatilsepeti.com, which is the leader in the online domestic travel sales sector, made an agreement with Expedia, one of the biggest travel portals in the world, and began overseas sales of holiday packages.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-07 Rubik s Brand

London, United Kingdom

Rubik's Brand Ltd. is the sole owner of Rubik's Cube that became a worldwide craze, selling hundreds of millions of units, and has inspired and challenged both young and old ever since. As a STEM-accredited puzzle, the Rubik's Cube supports brain development and cognitive skills by allowing children and adults to use their creativity while developing and encouraging intelligence. Rubik's Brand was formed in 1980 and is based in

Buy -