- Fonecta is a part of Triton portfolio company EDSA
- EDSA was acquired by Triton in December 2012
- Triton is a European mid-market investor based in London
Triton Partners has signed an agreement to sell Fonecta, a part of Triton portfolio company European Directories Group (EDSA).
Sponsor Capital, along with Fonecta’s management, Elo Mutual Pension Insurance Company and a private equity fund managed by eQ will acquire the company.
Fonecta is a digital marketing company with offices in Helsinki, Turku, Tampere and Pori in Finland. Its estimated revenue in 2023 is around €70 million, according to a release.
This follows Triton’s previous sales of Suurland, Klantenvertellen and Youvia in the Netherlands and Dogado Group in Germany in March 2023.
Fonecta’s divestment is the fifth and final partial exit of EDSA.
Sponsor Capital will acquire all Fonecta group companies including Fonecta, OIKIO Digital Performance Agency, 020202 Palvelut, 02 Taksi, and 020202 Solutions.
Fonecta’s management will continue in their positions and invest in the company.
Finland-based EDSA was acquired by Triton Fund III in December 2012.
“Turning around a legacy directory business such as Fonecta in a market characterized by significant disruption has required noteworthy effort and tenacity,” said Björn Osterloff, noard member and Triton representative.
No financial terms of the transaction were disclosed.
Triton is a European mid-market investor that focuses on business services, industrial tech, healthcare, and consumer sectors. It is based in London.
Sponsor Capital is a Finnish private equity investor focused on investing in small and medium-sized companies. The Helsinki-based firm manages a total of around €400 million in private equity funds.