BaltCap acquires shareholding in Runway

BaltCap, the leading private equity and venture capital investor in the Baltics, has acquired a shareholding in SIA Runway, one of the leading business process outsourcing service providers in the Baltic States.

BaltCap Private Equity Fund advised by BaltCap has acquired 40.82% of Runway’s shares from the company’s largest shareholder, Norwegian firm Dasha AS.

“Runway is one of the leading and the fastest growing players in the sector with solid operational experience in the Nordic market, highly qualified staff and good prospects in the market,” says Sandijs Abolins-Abols, Investment Director at BaltCap.

According to Mr. Abolins-Abols, Runway has sizable potential for further expansion in the Scandinavian and Western European markets. The company’s customers are currently serviced from four locations in the Baltic States; however, expansion to former CIS countries is being contemplated.

“We believe that with BaltCap’s financial backing Runway will be able to capitalize on existing experience and achieve the best results,” says Nils Sundling, the Managing Director of Runway.

Runway is one of the leading business process outsourcing service providers in the Baltic States with offices in Riga, Tallinn, Vilnius and Kaunas providing CRM, IT support, accounting and other back-office services to businesses in the Nordic market. Unaudited revenues of the company increased by 49% last year to reach EUR 8.01 million compared to EUR 5.39 million in 2009.

Further information:

Sandijs Abolins-Abols

Investment Director

BaltCap

Phone +371 6735 6396

E-mail: sandijs.abolins-abols@baltcap.com

Nils Sundling

Managing Director

SIA Runway

Phone +371 6722 4437

E-mail: nils.sundling@runway.ee