Helsinki (Finland) 20 November 2023 – Funds advised by Triton (“Triton”) have signed an agreement to sell Fonecta, a part of Triton portfolio company European Directories Group (“EDSA”) to Sponsor Capital. Terms and conditions of the transaction, which is subject to customary regulatory approval and other closing conditions, are not disclosed.
Following Triton’s previous sales of the companies Suurland, Klantenvertellen and Youvia in The Netherlands and sale of the dogado Group in Germany in March 2023, the divestment of Fonecta marks the fifth and final partial exit of EDSA.
According to the agreement, Sponsor Capital acquires all Fonecta group companies including Fonecta, OIKIO Digital Performance Agency, 020202 Palvelut, 02 Taksi, and 020202 Solutions. The management of Fonecta will continue in their positions and invest in the company.
During Tritons ownership, Fonecta has successfully been transformed from a traditional phone directory company into a pioneer in digital services, with its various brands strongly connected to everyday life in Finland through amongst others the Fonecta Caller and 02 Taksi mobile applications.
Björn Osterloff, Board member and Triton representative said: “Turning around a legacy directory business such as Fonecta in a market characterized by significant disruption has required noteworthy effort and tenacity. I would like to thank the Fonecta management team and all employees for this display of the Finnish “sisu”-spirit which will live on in a company now fit for growth in today’s digital environment.”
About Triton Partners
Founded in 1997 and owned by its partners, Triton Partners is a leading European mid-market sector-specialist investor. Triton Partners focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.
Triton Partners has over 150 investment professionals and value creation experts across 11 offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.