The European “yellow pages” publisher Interinfo, which is owned by TPG Capital, sold several of its regional businesses last year. In February 2008, the Baltic countries-focused private equity firm, BaltCap acquired 100 percent of Interinfo group of companies in Estonia, Latvia and Lithuania with annual turnover of EUR 15.5 million.
In late 2008, a St. Petersburg-based private equity firm, Quadriga Capital bought-out Euro-Address, the Russian publisher of “yellow pages” directories in Moscow, St. Petersburg, and the North West of Russia, from Interinfo. Founded in 1993, Euro-Address publishes telephone and business directories under the Allo, Address, Business Address and Pomor brands with a total print-run of over 500 thousand copies. Its 2008 revenue were estimated at $6 million. The company operates online portal at e-ADRES.ru.
The Russian “yellow pages” directories advertising market was estimated at $90 million in 2008, of which about 13 percent came from online advertising. The leading Russian “yellow pages” directories operator, Kontakt East Holding reported annual revenues of $20 million. The Russian yellow pages advertising market could drop 30 percent in 2009.
Quadriga Capital currently invests from its $136 million Quadriga Capital Russia Private Equity Fund II L.P., which fund raising was completed in March 2006. The portfolio companies of Quadriga Capital in media, IT and telecom sectors include a Moscow-based WiFi telecom operator Tascom, computer game publisher Akella, TV-home shopping channel TV Club, and voice recognition software and hardware vendor Speech Technology Center (STC).