M&A Deal Summary

GMT Communications Partners, The Carlyle Group and Providence Equity Partners Acquire Ziggo

On December 25, 2002, private equity firms GMT Communications Partners, The Carlyle Group and Providence Equity Partners acquired media company Ziggo from Orange for 665M EUR

Acquisition Highlights
  • This is GMT Communications Partners’ 6th, The Carlyle Group’s 1st and Providence Equity Partners’ 2nd transaction in the Media sector.
  • This is GMT Communications Partners’ 0th, The Carlyle Group’s 67th and Providence Equity Partners’ 23rd largest (disclosed) transaction.
  • This is GMT Communications Partners’ 2nd, The Carlyle Group’s 1st and Providence Equity Partners’ 1st transaction in the Netherlands.
Investment Fate
  • Ziggo was sold to a consortium of financial buyers in 2006 for 2.1B EUR.
  • Ziggo went public in 2012.
  • Ziggo was sold to a strategic buyer in 2014.

M&A Deal Summary

Date 2002-12-25
Target Ziggo
Sector Media
Buyer(s) GMT Communications Partners
The Carlyle Group
Providence Equity Partners
Sellers(s) Orange
Deal Type Divestiture
Deal Value 665M EUR

Target

Ziggo

Groningen, Netherlands
website
Ziggo is a cable operator in the Netherlands, providing analogue and digital television, broadband and telephony services to consumers and businesses. Ziggo was founded in 2007 and is based in Groningen, Netherlands.

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Buyer(S) 3

Buyer

GMT Communications Partners

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1993
PE ASSETS 3.5B EUR
Size Large
Type Sector Focused
DESCRIPTION

GMT Communications Partners is a specialist private equity firm focused on investments in the media and communications industries. The Firm prefers established companies with strong barriers to entry. Specific sectors of interest include publishing, information services, tv/radio, mobile voice & data networks, out-of-home media, and telecom infrastructure/services. GMT focuses its investment activity across Europe and will consider later stage investments as well as buyouts. GMT Communications Partners is based in London.


DEAL STATS #
Overall 16 of 30
Sector (Media) 6 of 8
Type (Divestiture) 1 of 3
Country (Netherlands) 2 of 4
Year (2002) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-11-01 Pepcom

Unterfohring, Germany

Pepcom GmbH is a cable TV operator, with more than 630,000 subscribers of video, broadband and voice services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Casema NV

The Hague, Netherlands

Casema NV is a provider of analogue TV, digital TV and broadband Internet access to its residential customers, and leased line data communications and voice telephony to its business customers.

Buy -
Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 376.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 119 of 695
Sector (Media) 1 of 14
Type (Divestiture) 10 of 71
Country (Netherlands) 1 of 13
Year (2002) 23 of 23
Size (of disclosed) 67 of 133
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-12-05 Horizon Lines

Charlotte, North Carolina, United States

Horizon Lines, Inc. is a container transportation shipping company, accounting for over 35% of all U.S. marine container shipments from the U.S. mainland to Alaska, Hawaii / Guam and Puerto Rico.

Buy $300M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Casema NV

The Hague, Netherlands

Casema NV is a provider of analogue TV, digital TV and broadband Internet access to its residential customers, and leased line data communications and voice telephony to its business customers.

Buy -
Buyer

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.


DEAL STATS #
Overall 13 of 133
Sector (Media) 2 of 29
Type (Divestiture) 2 of 11
Country (Netherlands) 1 of 5
Year (2002) 1 of 1
Size (of disclosed) 23 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-03-01 Eircom

Dublin, Ireland

eircom, the Irish national incumbent fixed-line telephone company, in a take-private transaction in 2001. In 2004, eircom was listed on the London and Dublin stock exchanges.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Casema NV

The Hague, Netherlands

Casema NV is a provider of analogue TV, digital TV and broadband Internet access to its residential customers, and leased line data communications and voice telephony to its business customers.

Buy -

Seller(S) 1

SELLER

Orange

Paris, France

website


Category Company
Founded 1990
Sector Communications
Employees138,626
Revenue 43.5B EUR (2022)
DESCRIPTION
Orange retail store in central Barcelona, Spain.
Orange retail store in central Barcelona, Spain.

Orange provides a range of fixed telephony and mobile telecommunications, data transmission, Internet and multimedia, and other value-added services to consumers, businesses, and other telecommunications operators under the Orange brand worldwide. Orange was founded in 1990 and is based in Paris, France.


DEAL STATS #
Overall 1 of 10
Sector (Media) 1 of 2
Type (Divestiture) 1 of 7
Country (Netherlands) 1 of 1
Year (2002) 1 of 1
Size (of disclosed) 4 of 5
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-30 Wanadoo SA

Issy les Moulineaux, France

Wanadoo SA is a provider of broadband services in France.

Buy -