M&A Deal Summary

Innova Capital, 3TS Capital Partners and Sandler Capital Management Acquire MobilTel AD

On May 26, 2004, private equity firm Innova Capital, private equity firm 3TS Capital Partners and asset manager Sandler Capital Management acquired communications company MobilTel AD for 1.2B EUR

Acquisition Highlights
  • This is Innova Capital’s 4th, 3TS Capital Partners’ 3rd and Sandler Capital Management’s 4th transaction in the Communications sector.
  • This is Innova Capital’s 0th, 3TS Capital Partners’ 0th and Sandler Capital Management’s 0th largest (disclosed) transaction.
  • This is Innova Capital’s 1st, 3TS Capital Partners’ 2nd and Sandler Capital Management’s 1st transaction in Bulgaria.
Investment Fate
  • MobilTel AD was sold to a strategic buyer in 2005 for 1.6B EUR.

M&A Deal Summary
Date 2004-05-26
Target MobilTel AD
Sector Communications
Buyer(s) Innova Capital
3TS Capital Partners
Sandler Capital Management
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 1.2B EUR

Target

MobilTel AD

Sofia, Bulgaria
Mobiltel EAD is the largest GSM mobile telephony operator in Bulgaria with a 75% market share.

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Buyer(S) 3

Buyer

Innova Capital

Warsaw, Poland

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 1.6B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Innova Capital is a private equity firm focused on investment opportunities in Central Europe. Innova generally looks to invest in businesses operating in Poland, Hungary, the Czech Republic, however the firm will also consider companies operating in bordering areas, such as the Nordic Countries, as well as Germany and Austria. Target sectors include business services, specialist media, financial services, and telecom. Innova seeks to commit between €25 to €40 million of equity capital per transaction. The Firm's investment horizon is three to five years. Innova Capital was formed in 1994 and is based in Warsaw, Poland.

DEAL STATS #
Overall 25 of 68
Sector (Communications) 4 of 9
Type (Buyout (LBO, MBO, MBI)) 24 of 46
Country (Bulgaria) 1 of 1
Year (2004) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-04 Carman

Poland

Carman offered a range of quick-fit auto services operating through seven outlets located at Makro Cash & Carry premises across Poland. All stations were Company Owned Company Operated (COCO).

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-01 Dom Finansowy

Gdansk, Poland

Dom Finansowy is an independent financial broker in the Polish market. It specializes in credit intermediation services, targeting retail customers. Its core products are unsecured cash loans, mortgage loans, and credit cards. Dom Finansowy was founded in 2001 and is based in Gdansk, Poland.

Buy -
Buyer

3TS Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 400M EUR
Size Middle-Market
Type Sector Focused
DESCRIPTION

3TS Capital Partners is a private equity firm that targets buyout and expansion capital investments in Central and Northern Europe. 3TS primarily targets growth tech businesses operating in the communications, internet, media, and technology-enabled services sectors. 3TS typically holds investments for three to five years. 3TS Capital Partners was formed in 1999 and is based in Helsinki, Finland.

DEAL STATS #
Overall 9 of 47
Sector (Communications) 3 of 4
Type (Buyout (LBO, MBO, MBI)) 4 of 11
Country (Bulgaria) 2 of 2
Year (2004) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 PXP Group AG

Vienna, Austria

PXP is a regional eBusiness and eFinance software solutions provider headquartered in Vienna with subsidiaries in Austria, Czech Republic and Slovakia. Its clients are mainly large and medium size enterprises across the region.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-01 LogMeIn

Boston, Massachusetts, United States

LogMeIn, Inc. is a developer and marketer of innovative remote control, productivity, management and security products that serve mobile professionals and system administrators. Its brands include LogMeIn, an on-demand access service, and the RemotelyAnywhere line of software. LogMeIn was established in 2003 and is based in Boston, Massachusetts.

Buy -
Buyer

Sandler Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1990
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sandler Capital Management is a private investment firm that manages both hedge funds and private equity funds. Sandler's private equity practice was established in 1990, which targets investments in the media, communications, entertainment and marketing/information services sectors. Sandler will consider minority or majority positions and has a target investment size of $5 to $60 million per transaction. Sandler Capital is based in New York City.

DEAL STATS #
Overall 5 of 13
Sector (Communications) 4 of 5
Type (Buyout (LBO, MBO, MBI)) 4 of 9
Country (Bulgaria) 1 of 1
Year (2004) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-26 Glasser Legalworks

Little Falls, New Jersey, United States

Glasser LegalWorks, founded in 1995 by Stephen and Lynn Glasser, is widely known for its management events, including The Marketing Partner Forum, Law Firm Leaders Forum and Executive Director/CFO Forum; its substantive law seminars, including ERISA Litigation, Annual Proxy Statement and Disclosure Documents conference and SEC Disclosure and Accounting conference; and its newsletters, including "Wall Street Lawyer" and "M&A Lawyer."

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-01 AMC

Leawood, Kansas, United States

AMC is a theatrical exhibition company. The Company operates more then 400 locations across North America and China. AMC was incorporated in 1920 and is based in Leawood, Kansas.

Buy -
Mergr

Product

Company

Legal