American Stonepeak Acquires TeleTower

Stonepeak to Acquire Majority Stake in Bite Group, Partnering with TeleTower to Expand Baltic Telecom Services

Riga, Latvia – December 23, 2025 – Stonepeak, a leading private equity firm focused on infrastructure, has entered into a definitive agreement to acquire a majority stake in Bite Group, a prominent telecommunications provider in the Baltic States. The transaction, expected to close in the second quarter of 2026, will see Stonepeak partner with TeleTower, a leading tower infrastructure provider, to further expand Bite Group’s network capabilities and service offerings. This move signifies continued investment and growth in the Baltic telecom market.

Bite Group’s Growth and Investment Under Providence Equity Partners

Bite group has experienced important growth under the ownership of providence Equity Partners, increasing revenues from approximately €200 million to €600 million. https://www.providenceequity.com/ This expansion has been fueled by over €400 million in infrastructure investments, focusing on the development of 4G and 5G networks and the delivery of high-speed connectivity across the region. The company has also diversified its services, notably with the introduction of the Go3 PayTV platform. https://www.bite.lv/en/go3

“Since the beginning of our cooperation with Providence,we have invested more than 400 million euros in infrastructure,developing 4G and 5G networks and providing high-speed connectivity,” stated Pranas Kuisis,CEO of Bite Group. “The attraction of a global strategic investor such as Stonepeak and the future partnership with TeleTower confirm our commitment to continue these goals.”

Stonepeak and TeleTower: A Strategic Partnership for Enhanced Connectivity

Stonepeak’s investment and partnership with TeleTower are expected to accelerate Bite Group’s strategic objectives. TeleTower’s expertise in tower infrastructure will be crucial in supporting the continued rollout of advanced networks and expanding coverage. This collaboration aims to enhance connectivity services,including fixed connectivity and PayTV offerings,throughout the baltic region.

Karim Tabet, European Head of Providence, highlighted the firm’s confidence in the Baltic States, stating, “We continue to believe that the Baltic states have strong fundamentals and look forward to working with Stonepeak to leverage their infrastructure expertise in this strategic partnership, creating significant value for both the Bite Group and TeleTower.”

Transaction Details and Advisors

The completion of the transaction is anticipated in the second quarter of 2026. The deal involved several key advisory firms:

* Stonepeak financial advisor: Barclays
* Stonepeak Legal Advisor: Simpson Thacher & Bartlett LLP
* Bite Group Financial Advisor: Lazard
* bite Group Legal Advisors: Paul, Weiss, Rifkind, Wharton & Garrison, A&O Shearman, and Sorainen

Key Takeaways

* Stonepeak is acquiring a majority stake in Bite Group, a leading Baltic telecommunications provider.
* The deal includes a strategic partnership with TeleTower to enhance network infrastructure.
* Bite Group has seen significant revenue growth under providence Equity Partners, increasing from €200 million to €600 million.
* Over €400 million has been invested in 4G and 5G network development.
* the transaction is expected to close in the second quarter of 2026.

looking ahead

This acquisition and partnership represent a significant step forward for the Baltic telecommunications sector. The combined expertise of Stonepeak, Bite Group, and TeleTower positions the companies to capitalize on the growing demand for high-speed connectivity and innovative services in the region. Further investment and network expansion are anticipated, ultimately benefiting consumers and businesses across the Baltic States.