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Ambient Sound Investments exits Markit through MBO while management gains majority in the company

 · Margus Pahtma

Markit management and the first round investor Helmes have completed a buyout deal to acquire the shares of Ambient Sound Investments (ASI) in Markit Holding AS. As a result the founders and key employees re-gain the majority shareholding in the company. Helmes AS continues as a minority shareholder.

Ambient Sound Investments (ASI) made an investment of 2 million euros on 2006 to Markit to fuel the European expansion – a goal that has been fulfilled.

Commenting on the deal the CEO of Markit Mr. Andres Agasild noted that the exit of ASI has been a long planned step. ”For the founders and management it has always been a long term goal to build an organization with high efficiency that is providing a high value service to customers. ASI played an important role by entering the company as an investor in the crucial expansion phase. Today we have certainly achieved the goals set by the investment and we are operating in 28 countries in Europe and US. For the investors the fair value exit is an important step and we are extremely pleased that we could come to a mutual agreement.”

The deal has been financed by BPM Mezzanine Fund (BPM) for whom this is a first deal of any sorts in the Baltic region.

“It is an excellent opportunity for us to support the growth of Markit. We believe in the management team and the business model. The investment fits well in BPM’s portfolio due to significant growth prospects and export potential. The management team has extensive experience in the sector and a significant ownership interest in the business,” said Priit Veering, Partner of BPM Capital.

The first round investor and minority shareholder Helmes also increased their holding in the company. The founder and CEO of Helmes Mr. Jaan Pillesaar commented on the vision of Markit: “I strongly believe the direction and vision that Markit has. There are not many examples of Estonian companies taking on Europe and providing a service with a unique value to the likes of Michelin, Deloitte, Radisson, Spotify and many others.”

Ambient Sound Investments CEO Tauno Tats said that Markit is a fine example of their successful investments. “Markit was one of our first investments ever made and we were backing their international ambition. I am glad to say that the agreement was reached on good terms for all sides and we are certainly looking for companies with similar ambition for investing in the future.”