Apax Global Alpha Limited (AGA) has announced that the Apax IX Fund, in which AGA is a limited partner, has sold its remaining shares in Baltic Classifieds Group (BCG). The sale will deliver a realized gross MOIC of 4.2x and a total gross IRR of approximately 59% for Apax IX. AGA's look-through investment in BCG will have returned a total of approximately €31m. Apax IX acquired BCG in July 2019 and, during its ownership, BCG increased its leadership position across all verticals and expanded through M&A with the acquisition of Auto24, the leading automotive classifieds portal in Estonia.
The Apax Funds have a strong track record in investing in online marketplaces, deploying more than c.$4.8bn of equity into companies across North America, Europe, and Australasia. AGA, listed on the London Stock Exchange, provides investors with access to the Apax Private Equity Funds and a smaller portfolio of mostly Debt Investments. In 2016, AGA made a commitment of approximately c.$350m to Apax IX.
The announcement may contain inside information as stipulated under the Market Abuse Regulations (EU) NO. 596/2014 ("MAR"). It is not for release, publication, or distribution, directly or indirectly, in whole or in part, into or within the United States or to "US persons" or into or within Australia, Canada, South Africa, or Japan. The information presented herein is not an offer for sale within the United States of any equity shares or other securities of AGA.
This announcement may include forward-looking statements. The forward-looking statements in this presentation are based on numerous assumptions regarding AGA's present and future business strategies and the environment in which AGA will operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies.