Belgian holding group Deficom Telecom and PE firm Apax have acquired French cableco Numericable’s assets in Belgium and Luxembourg.
The acquisition was completed on 30 June for “a little more” than the E350m top end of banker estimates, a source close…
Belgian holding group Deficom Telecom and PE firm Apax have acquired French cableco Numericable’s assets in Belgium and Luxembourg.
The acquisition was completed on 30 June for “a little more” than the E350m top end of banker estimates, a source close to the deal told TelecomFinance.
Under the plan, Apax and the local investment firms within Deficom Telecom, Altice and Deficom, have each acquired a stake in the assets. Apax and Altice hold 40% each, while Deficom, which is led by former Numericable chairman Philippe Lhomme, owns 20%.
Announcing the deal, the new shareholders said they were keen to accelerate the operator’s growth in both Belgium and Luxembourg, where they believe it could play an active role in the consolidation of the sector, which remains highly fragmented at the local level.
“I am looking forward to embarking on a new partnership with ambitious and complementary shareholders,” said Pascal Dormal, MD of Numericable Belgium/Luxembourg.
“Apax Partners shares the same vision as Numericable Belgium/Luxembourg in respect of the development of Triple Play services and its desire for acquisition-led growth, particularly in Luxembourg,” he said.
Apax partner Thomas de Villeneuve said: “Numericable Belgium/Luxembourg offers bright growth prospects, in respect of the rollout of its Triple Play offers and its plans for new services, as well as its acquisition opportunities in the Benelux countries and other areas.”
Numericable was advised by Rothschild.
