XPEDIATOR acquired by BALTCAP

BaltCap acquired Xpediator, the London-listed freight management company, for an enterprise value of £161M, representing an EV/EBITDA multiple of . The transaction was completed by a consortium led by BaltCap that included Cogels Investments Limited, the investment vehicle of Stephen Blyth's family, and Justas Versnickas, the chief executive of Xpediator's Delamode business. The bid was made in April and completed in July, taking the company private. The offer valued Xpediator at an EBITDA of . The take-private was the first by a Baltic investor on the London Stock Exchange. BaltCap's stated rationale was to support the growth of Delamode's core freight-forwarding activities in Central and Eastern Europe and to develop the logistics operations in the United Kingdom and Romania, as well as to bring new products such as intermodal freight and green logistics solutions to customers. The consortium was formed with the company's largest shareholder and its chief executive, both of whom reinvested alongside BaltCap. Šarūnas Alekna, a partner at BaltCap, led the firm's involvement in the transaction. The acquisition followed a successful bid made in April and was completed in July. The consortium took control of the entire issued share capital of Xpediator, delisting the company from the London Stock Exchange.