Polaris Invest has acquired Starman Group
December 2016 — The minority shareholder Polaris Invest has exercised its pre-emption right to acquire the East Capital Explorer AB's 63% stake in Starman Group. The transaction, originally announced on 14 March 2016 as a sale to Providence Equity, valued Starman at an enterprise value of US$230 million.The transaction was financed by the Finland-based telecom services provider Elisa, who intends to acquire Starman's Estonian operations after receiving necessary regulatory approvals.
Polaris Invest is a minority shareholder and co-founder of Starman Group. The company also has holdings in real estate and is active via the investment company Spring Capital in various new technology ventures, including wind energy, wireless sensors and polymers-based structures.
Starman is the leading cable television services and broadband provider in the Baltics. In Estonia, Starman has 37% and 21% market share in each market respectively. Since its establishment in 1992, the company has grown organically and through acquisitions, integrating more than 20 local suppliers in its business. At the end of 2014, Starman had 318,000 subscribers, with 97% digital coverage in Estonia. In 2015, the company expanded through the acquisition of the leading non-incumbent Lithuanian cable television provider Cgates.
East Capital Explorer AB is a Swedish investment company offering unique investment opportunities in Eastern Europe. The Baltic countries represent the company’s largest investment region.
Our role in the transaction
Oaklins' team in Estonia acted as the exclusive buy-side advisor to Polaris Invest.
Talk to the deal team
Related deals
Terhills Resort by Center Parcs has been acquired by TwentyTwo Real Estate
Terhills Resort, a premium resort in Belgium combining luxury and nature located near Hoge Kempen National Park and operated by Center Parcs, has been sold by venture capitalist LRM to TwentyTwo Real Estate, an independent real estate investor and operator. Both the real estate and the operations were included in the transaction, and Center Parcs is staying on board as an operational partner.
Learn moreOEP Danzig BidCo has completed a mandatory tender offer for the shares of Digital Value
OEP Danzig BidCo S.p.A. has completed a mandatory tender offer for the shares of Digital Value S.p.A.
Learn moreBolster Investment Partners has secured debt financing for the acquisition of Royal Taste Company
Bolster Investment Partners has partnered with Royal Taste Company, a leading Dutch custom signature coffee platform offering end-to-end sourcing, blending, roasting, packaging and delivery services. The partnership marks an important next step in Royal Taste Company’s growth trajectory, focused on further geographical expansion, commercial development and selective strategic acquisitions.
Learn more