M&A Deal Summary

Providence Equity Partners Acquires Bite Group

On December 24, 2015, private equity firm Providence Equity Partners acquired communications company Bite Group from Mid Europa Partners and Ardian

Acquisition Highlights
  • This is Providence Equity Partners’ 17th transaction in the Communications sector.
  • This is Providence Equity Partners’ 5th transaction in the Netherlands.

M&A Deal Summary

Date 2015-12-24
Target Bite Group
Sector Communications
Buyer(s) Providence Equity Partners
Sellers(s) Mid Europa Partners
Ardian
Deal Type Secondary Buyout

Target

Bite Group

Amsterdam, Netherlands
Bite Group is a provider of mobile telecommunication and mobile Internet services to residential and business customers primarily in Lithuania and Latvia. Bite Group is based in Amsterdam, Netherlands.

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Buyer(S) 1

Buyer

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor


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 88 of 137
Sector: Communications M&A 17 of 20
Type: Secondary Buyout M&A Deals 17 of 40
Country: Netherlands M&A 5 of 5
Year: 2015 M&A 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-16 CARET

San Diego, California, United States

CARET is a vertical SaaS provider for compliance-focused professional services markets. Our purpose-built cloud infrastructure puts customers’ business data and vital applications into a virtual workspace that is accessible anywhere, anytime and from any device, enabling small and midsize legal and accounting firms to grow an efficient, secure, client-focused practice. CARET was founded in 1983 and is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-14 Starman

Tallinn, Estonia

Starman is a cable TV operator, that provides several bundled service packages offering "triple play" service: video programs, broadband internet connection, and voice telephony. It is also involved in the provision of terrestrial digital video services. Starman was founded in 1992 and is based in Tallinn, Estonia.

Buy €81M

Seller(S) 2

SELLER

Mid Europa Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 6.2B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Mid Europa Partners is a private equity firm focused on investing in Central and Eastern Europe. Mid Europa prefers control based investments in market leading companies operating in industries with high barriers to entry. Sectors of interest include telecom, media, utilities, transportation, natural resources, industrial, healthcare, building materials, manufacturing, and agriculture. The Firm looks to commit €50 to €300 million of equity capital per transaction in businesses valued up to €500 million. Prospective transaction types include buyouts, take-privates, divestitures, turnarounds, and large scale expansions. Mid Europa Partners is the successor entity to EMP Europe Ltd, which was formed in 1999. Mid Europa has offices in Budapest, Warsaw, and London.


DEAL STATS #
Overall 15 of 31
Sector: Communications M&A 6 of 7
Type: Secondary Buyout M&A Deals 4 of 7
Country: Netherlands M&A 1 of 1
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-27 CMC

Kağıthane, Turkey

CMC is an independent outsourced call centre and customer management services provider. CMC was founded in 2000 and is based in Kağıthane. Turkey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-22 Energy 21

Prague, Czech Republic

Energy 21 develop, acquire, construct, and operate renewable power plants. Energy 21 believe that their integrated approach can deliver and ensure a safe, reliable, and sustainable supply of green electricity to customers. Energy 21 was founded in 2007 and is based in Prague, Czech Republic.

Sell -
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 STATS #
Overall 108 of 247
Sector: Communications M&A 7 of 9
Type: Secondary Buyout M&A Deals 38 of 92
Country: Netherlands M&A 5 of 6
Year: 2015 M&A 12 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-23 Limacorporate

Udine , Italy

Limacorporate is a global medical device company providing reconstructive orthopedic solutions to surgeons who face the challenges of improving the quality of life of their patients. Lima Corporate’s product range includes large joint revision and primary implants and complete extremities solutions including fixation. Limacorporate was founded in 1945 and is based in Udine, Italy.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-05 Fleet Farm

Appleton, Wisconsin, United States

Fleet Farm is a value-based retailer of lifestyle merchandise serving suburban and farm consumers. The retailer has a diversified offering of merchandise across seven broad product categories, and also offers a number of services such as convenience stores, gas stations, car wash, and auto service. Fleet Farm was founded in 1955 and is based in Appleton, Wisconsin.

Buy -