M&A Deal Summary

Blackstreet Capital Management Acquires IX Europe

On July 1, 1999, private equity firm Blackstreet Capital Management acquired communications company IX Europe for 120M EUR

Acquisition Highlights
  • This is Blackstreet Capital Management’s 1st transaction in the Communications sector.
  • This is Blackstreet Capital Management’s largest (disclosed) transaction.
  • This is Blackstreet Capital Management’s 1st transaction in Switzerland.
Investment Fate
  • IX Europe was sold to a publicly-traded strategic buyer in 2007.

M&A Deal Summary
Date 1999-07-01
Target IX Europe
Sector Communications
Buyer(s) Blackstreet Capital Management
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 120M EUR

Target

IX Europe

Switzerland
IX Europe ("IXE") was a pan-European provider of high quality and high connectivity datacentre services for corporates, system integrators, telecommunication companies and internet service providers. IXE developed a network of purpose-built IT and telecom facilities in the major European cities, offering housing, back-up, connection services and business continuity to the specification of different users. The strength of the business was its pan-European approach to being an independent datacentre provider. This produced a predictable, highly reliable, independent service for its 400 customers

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Buyer(S) 1

Buyer

Blackstreet Capital Management

Chevy Chase, Maryland, United States
Category Private Equity Firm
Founded 2003
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Blackstreet Capital is a private equity firm focused on control buyouts of under-performing corporate orphans with $25 to $150 million in revenue. Industries of interest include niche manufacturing, distribution, specialty retail, education and training, healthcare services and devices, and restaurants. Blackstreet invests up to $15 million of equity capital in businesses valued up to $75 million. Blackstreet's average holding period is three to five years. Blackstreet Capital(formerly Milestone Capital Management was founded in 2003 and is based in Bethesda, Maryland.

DEAL STATS #
Overall 5 of 37
Sector (Communications) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 5 of 19
Country (Switzerland) 1 of 2
Year (1999) 1 of 2
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-11-01 Eton Group

United Kingdom

The Eton Group was formed to develop a small chain of branded, four to five star, 40-60 bedroom town house hotels, aimed largely at the discerning corporate traveller. Market analysis suggested that this niche was likely to be one of the most attractive in the hotel sector, offering significant growth.

Buy €77M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-10-01 Star Energy

London, United Kingdom

Star Energy planned to develop an onshore oil and gas utility business through the acquisition of a small number of complementary businesses. The focus was on companies with producing assets which had the potential to develop annuity streams through gas storage and electricity production.

Buy €62M
Mergr

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Company

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