:format(webp)/nginx/o/2024/09/09/16346543t1hd6db.jpg "American Company Acquires TeleTower Communication Tower Company")
American Company Acquires TeleTower Communication Tower Company
- December 23, 2024 - Stonepeak, a leading private equity firm, has completed its acquisition of both SIA "TeleTower" and "Bite Group," substantially expanding its footprint in the Baltic...
- The acquisition encompasses both "TeleTower," a Latvian telecommunications infrastructure company, and "Bite Group," a regional provider of mobile communications, data, and TV services.
- SIA "TeleTower," registered in 2009,demonstrated strong financial performance in the past year.
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Stonepeak Acquires TeleTower and Bite group in Baltic Expansion
Table of Contents
December 23, 2024 – Stonepeak, a leading private equity firm, has completed its acquisition of both SIA “TeleTower” and “Bite Group,” substantially expanding its footprint in the Baltic telecommunications market. The deal, advised by Lazard and several legal firms, signals continued investment in the region’s digital infrastructure.
Deal Overview and Key Players
The acquisition encompasses both “TeleTower,” a Latvian telecommunications infrastructure company, and “Bite Group,” a regional provider of mobile communications, data, and TV services. Stonepeak’s investment aims to bolster the growth and development of these companies within the Baltic states.
Key advisors involved in the transaction included:
- Stonepeak: Legal advisor
- Lazard: Financial advisor
- Bite Group: Paul,Weiss,Rifkind,Wharton & Garrison,A&O Shearman,and Sorainen (legal advisors)
TeleTower Performance and Ownership
SIA “TeleTower,” registered in 2009,demonstrated strong financial performance in the past year. The company reported a turnover of €8.742 million, a 42% increase compared to the previous year. Notably, its profit surged to €2.022 million. TeleTower’s share capital stands at €12.069 million, and it is wholly owned by “TeleTower” of Lithuania.
Bite Group Financials and Ownership
“Bite Latvija,” a key component of Bite Group, also experienced growth in 2023. The company’s turnover reached €183.75 million, a 12.5% increase from 2022. However,profit growth was more modest,rising by 1% to €33.712 million. Bite Latvija was established in 2005 and has a share capital of €44 million.
“Bite Latvija” is fully owned by the Lithuanian “Bite Group,” which, in turn, is part of the global asset management firm Providence Equity Partners. Providence Equity Partners manages billions in assets across various sectors, including communications.
Financial Summary
| Company | Year Registered | Share Capital (€)
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