BaltCap sells IT group

Baltic private equity house BaltCap has sold its stake in Lithuania-based IT Protraining Group to Estonian IT business MicroLink Eesti.

The deal involves MicroLink acquiring an 83% equity position in the business, which sees management continue as minority shareholders.

IT Protraining is the largest company of its type in the region, specialising in information and communication technologies training and consultancy services, with subsidiaries in Estonia, Lithuania, Latvia and Estonia.

BaltCap bought the business in January 2005.