EXIT: BPM Mezzanine Fund exited its investment in a world class B2B IT procurement solution provider Markit

Photo: Andres Agasild

BPM Mezzanine Fund SICAV-SIF, SCA (BPM) provided financing for the management buy-out transaction in March 2016. The transaction enabled the management team led by Andres Agasild to re-acquire majority ownership in the Company. BPM was the sole debt provider in the transaction.

During the investment period Markit has shown remarkable growth in many aspects of its activities:
  • Revenues increased from 68 mEUR to 174 mEUR (estimated 2021)
  • EBITDA grew from 825 thEUR in 2015 to 5.5 mEUR today
  • The number of employees increased from 88 to 145
  • Markit is today operating in 38 countries (28 in 2015) in Europe, North America, South America and Asia Pacific’s
  • The Company’s IT product marketplace and procurement solution includes live feed from more than 325 key distributors

Markit clients include over 20% of the Global Forbes 2000 and Fortune 500 companies. Companies such as ABB, AGA (Linde AG), Coca-Cola, Danfoss, Ericsson, Johnson & Johnson, MetLife, Rezidor/Radisson, Roche, Sanofi, Schott, SEB, Siemens, Skype, Wise, Telenor, Tieto, TIKTOK and many more are solving numerous indirect IT purchasing issues with Markit.

The CEO of Markit, Andres Agasild, commented that “The co-operation with BPM has been excellent. They have been very supporting, flexible and it is a great team to work with. Their financing helped to support strong results for Markit and to create a mutual success story.”

“We would like to thank Andres and his team for the outstanding performance, and we appreciate highly the opportunity of being part of this transaction. Markit has a strong market position both in the Baltics and also globally, all while experiencing fast growth. We are certain that the growth story of Markit continues” said Priit Veering, Partner at BPM Capital.

For further enquiries, please contact:
BPM Capital: Priit Veering, tel: +372 605 0074, e-mail: priit.veering@bpmcapital.eu
Markit: Andres Agasild, tel: +372 506 5189, e-mail: andres.agasild@markit.eu

More information about BPM Capital
BPM Capital (www.bpmcapital.eu) is an independent investment manager operating out of two offices, in Tallinn and Warsaw. It has been founded and is managed by Kalmer Kikas, Martin Reinson, Paweł Zabrzycki and Priit Veering. BPM is supported by prominent international and domestic institutional investors. BPM was originated through the Baltic Innovation Fund initiative created by cooperation between Estonia, Latvia, Lithuania and the European Investment Fund. Portfolio companies include Markit (exited), OC Vision (exited), Eskaro (exited), DEAC (exited), Corle, Tahe Outdoors, DenEesti, Smiltenes Piens (exited), Zoo Factory and iDS (exited).

More information about Markit
Markit (www.markit.eu) is a world class marketplace & procurement solution offering over 4 million unique IT products supplied directly from world’s leading IT distributors. Markit was founded in Estonia in 2003 and quickly grew to become the leading B2B IT hardware and accessory supplier in the Baltic region. This has formed the base for quick future European and global expansion, adding 2 - 3 new countries per year. In 2021, Markit is working in 38 countries across 5 continents.

Share this