Finnish business-to-business (B2B) advertising services provider Fonecta is in an advanced sale process, three sources familiar with the situation said.

Access Partners is the sellside adviser, two of the sources said, and the sale started before the summer break in July, one added. The process is still ongoing, but it is not clear at what stage, all of the sources added.

Fonecta recorded EUR 58.4m FY22 revenue with a 13.7% EBITDA margin, according to publicly available figures. Fonecta and its Finnish sister companies 020202, a phone and text-message information services number, taxi service 02Taksi and digital marketing service provider OIKIO, have a combined revenue of around EUR 100m, one of the sources noted.

Fonecta is part of European Directories Group (EDSA), which in turn is owned by Triton Partners, as per the company and sponsor websites.

Netherlands-based EDSA, which at the time of publication had an Likely to Exit score of 18 out of 100, according to Mergermarket’s predictive algorithm*, was acquired by Triton Fund III in December 2012.

In December 2022, EDSA announced the sale of its German subsidiary dogado to Cinven for an undisclosed sum. Dogado had acquired EDSA’s Austrian business HEROLD the year before, while the group’s Dutch business Youvia was acquired by Ireland’s FCR Media in 2022. Fonecta and the other Finnish businesses are the only remaining companies within the EDSA group.

Fonecta, established in 2002, offers digital advertising and marketing services to businesses, including search engine optimisation, website building, Google and LinkedIn advertising, ecommerce site building and more, as per the company’s website.

Triton Partners declined to comment. Fonecta, EDSA and Access Partners did not respond to requests for comment.

*Mergermarket’s LTE predictive analytics assign a score to sponsor-backed companies to help track and predict when an exit could occur through M&A, an IPO, a direct listing or a deSPAC transaction.