Triton Building Better Business
Building better businesses
A European leader in local search products


EDSA Group was acquired by Triton Fund III in December 2012

European Directories (EDSA Group) is a leading European local search provider, specializing in local search products with a focus on digital offerings, benefiting millions of users. The Group has operations in Austria, Finland and the Netherlands under the brands Herold, Fonecta and DTG, respectively. Although the Company has a history of being the incumbent directory provider in its markets, it currently also has a significant presence in the digital marketing space.

EDSA Group was in financial distress due to the high level of debt imposed by previous owners. As print revenues declined and the business moved towards online products, European Directories' profitability and revenues were negatively impacted. Moreover, a highly leveraged financing structure further contributed to the declining financial performance of the Company. This concluded in the previous owner, Macquarie, losing control of European Directories. A group of banks, the "Senior Lenders", gained 100% ownership of European Directories in 2010. Triton acquired European Directories in 2012 from the Senior Lenders in conjunction with a successful debt restructuring.

Triton further developed the Company by selling the Polish business and shifting the management team to the Netherlands. Triton provided additional capital for the new digital business segments through both organic growth and several acquisitions. European Directories currently has 1,500 employees with revenues of €275 million in 2016.

The Company is still progressing with its transition from print to online, and further digitalizing its online business. The share of print revenues has reduced from 34% in 2010 to 15% in 2014, whereas new media products grew to 24% in 2014. European Directories currently has over 300,000 business customers.

Key events since Triton's investment

  • Focused the business on its profitable operations in Austria, Finland and the Netherlands in 2013
  • Provided capital to expand the Company's digital business segments
  • Issued €160m of senior secured callable floating rate bonds on the corporate bond list in Nasdaq Stockholm in December 2014
  • Rolled out a code of conduct and integrity line, and performed staff trainings


Press releases

18 Oct 2017 European Directories acquires Alfahosting GmbH
10 Dec 2012 New Future for European Directories


Triton III

Acquisition date:
December 2012

Business services

€246 million (2017)

Number of employees:
1,430 (2017)

Board of directors:
Marcus Englert (Chairman)
Hannu Syrjänen
Björn Osterloff
Peder Prahl
Marco Sodi
Sébastien Rimlinger
Domenico Latronico

Company website:

Björn Osterloff

Pekka Harju
(CEO Finland)
Erik Wiechers 
(CEO the Netherlands)
Martin Kargl
(CEO Austria)
Neil Robson

Sign up here to receive email news notifications

rss feed Linked in

Our locations*

* For legal entities please see the legal notice


This website is not directed at visitors who are located within the US.

See legal notice 3

View the full site:

English Deutsch

Basic information

Dansk Español
Français Italiano
Nederlands Norge
Suomi Sverige