Secondary Buyout • Communications

BC Partners Acquires Com Hem AB

On July 21, 2011, private equity firm BC Partners acquired communications company Com Hem AB from The Carlyle Group, Providence Equity Partners and Ardian for 2.6B USD

Acquisition Context
  • This is BC Partners’ 2nd transaction in the Communications sector.
  • This is BC Partners’ 12th largest (disclosed) transaction.
  • This is BC Partners’ 2nd transaction in Sweden.
Investment Fate
  • Com Hem AB was sold to a publicly-traded strategic buyer in 2017 for 3.7B SEK.

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M&A Deal Summary

Date July 21, 2011
Target Com Hem AB
Sector Communications
Buyer(s) BC Partners
Sellers(s) The Carlyle Group
Providence Equity Partners
Ardian
Deal Type Secondary Buyout
Deal Value 2.6B USD

Target Company

Com Hem AB

Stockholm, Sweden
Com Hem offers broadband, TV, play and telephony services to Swedish households and companies. The company plays an important role in Sweden’s ongoing digitalisation push, with its powerful and future-proofed broadband network that covers half of the country’s households, reaching approximately 1.5 million customers.
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Buyer Overview 1

Buyer

BC Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 30.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

BC Partners is a large investment group focused on private equity, credit, real estate, and co-investment strategies. The Firm's private equity group looks to make control investments in European and North American businesses valued above €300 million. Sectors of interest include healthcare, directory publishing, media, industrial products, food, distribution, manufacturing, consumer services, business services, and communications. BC Partners was formed in 1986 and is based in London, England.


Deal Context for Buyer #
Overall 48 of 99
Sector: Communications 2 of 4
Type: Secondary Buyout 17 of 40
Country: Sweden 2 of 2
Year: 2011 5 of 5
Size (of disclosed) 12 of 44
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-09 Gruppo Coin

Mestre Venezia, Italy

Gruppo Coin is an Italian apparel retailer operating c. 800 stores in Italy and 90 overseas. The company employs 9,500 people. The group operates through two brands: Oviesse "OVS" which offers "value for money" clothing for women, men and children and Coin department stores which target more affluent customers, selling clothing for men, women and children, as well as accessories, underwear, home decoration, perfumes and cosmetics.

Buy €1.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-26 Bureau van Dijk

Amsterdam, Netherlands

Bureau van Dijk is a global provider of business intelligence and company information. Bureau van Dijk, operating from its Amsterdam headquarters, aggregates, standardizes and distributes one of the world’s most extensive private company datasets, with coverage exceeding 220 million companies. Over 30 years, the company has built partnerships with more than 160 independent information providers, creating a platform that connects customers with data that addresses a wide range of business challenges. Bureau van Dijk’s solutions support the credit analysis, investment research, tax risk, transfer pricing, compliance and third-party due diligence needs of financial institutions, corporations, professional services firms and governmental authorities worldwide.

Sell €960M

Seller Profiles 3

SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B 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 Context for Seller #
Overall 178 of 490
Sector: Communications 14 of 20
Type: Secondary Buyout 31 of 119
Country: Sweden 3 of 4
Year: 2011 17 of 28
Size (of disclosed) 16 of 138
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-21 C.H.I. Overhead Doors

Arthur, Illinois, United States

C.H.I. Overhead Doors is a manufacturer and marketer of overhead garage doors in North America. The Company manufactures a complete portfolio of overhead sectional garage door products for both the residential and commercial markets, as well as rolling steel doors for commercial and industrial applications. C.H.I. Overhead Doors was founded in 1981 and is based in Arthur, Illinois.

Buy $290M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-28 Wesco Aircraft Holdings

Valencia, California, United States

Wesco Aircraft Holdings, Inc. is a distributor and provider of comprehensive supply chain management solutions to the global aerospace industry and other industrial market segments. Wesco Aircraft services range from traditional distribution to the management of supplier relationships, quality assurance, kitting, just-in-time delivery, chemical management services, third-party logistics or fourth-party logistics and point-of-use inventory management. Wesco Aircraft Holdings, Inc. was founded in 1953 and is headquartered in Valencia, California.

Sell -
SELLER

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 38.0B 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 Context for Seller #
Overall 28 of 102
Sector: Communications 10 of 18
Type: Secondary Buyout 6 of 31
Country: Sweden 1 of 2
Year: 2011 6 of 8
Size (of disclosed) 10 of 36
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-01 Kabel Deutschland

Unterfohring, Germany

Kabel Deutschland is the cable television operator in Germany

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-23 GLM Shows - George Little Management

White Plains, New York, United States

GLM creates face-to-face buying, selling and networking platforms for designers, product developers, manufacturers, retailers and operators through more than 20 leading trade shows including four of the largest 100 trade shows in the U.S.

Buy $173M
SELLER

Ardian

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €1 billion per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.


Deal Context for Seller #
Overall 41 of 248
Sector: Communications 1 of 9
Type: Secondary Buyout 17 of 94
Country: Sweden 2 of 2
Year: 2011 13 of 18
Size (of disclosed) 5 of 37
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-20 3 New

Rovereto, Italy

3 New manages a portfolio totaling 462 MW in gross capacity which includes solar, wind, hydroelectric, and biomass plants located across Italy. 3 New is based in Rovereto, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-22 Vulcanic

Neuilly sur Marne, France

Vulcanic is a designer and manufacturer of low and medium-volume series of electrical heating and cooling solutions for the industry (heating elements, industrial radiators, thermo regulators, etc. Vulcanic was founded in 1956 and is based in Neuilly Sur Marne, France.

Buy -