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Going Private • Communications

Searchlight Capital Partners Acquires Mitel

On April 24, 2018, private equity firm Searchlight Capital Partners acquired communications company Mitel for 2.0B USD

Acquisition Context
  • This is Searchlight Capital Partners’ 6th transaction in the Communications sector.
  • This is Searchlight Capital Partners’ 2nd largest (disclosed) transaction.
  • This is Searchlight Capital Partners’ 3rd transaction in Canada.
  • This is Searchlight Capital Partners’ 3rd transaction in Ontario.

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M&A Deal Summary
Date April 24, 2018
Target Mitel
Sector Communications
Buyer(s) Searchlight Capital Partners
Deal Type Going Private
Deal Value 2.0B USD
Advisor(s) Jefferies
National Bank Financial (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison
Osler (Legal)

Target Company

Mitel

Ottawa, Ontario, Canada
Mitel is a telecommunications company providing voice and unified communications services, with market-leading positions in unified communications-as-a-service (“UCaaS”) and customer-owned solutions. Mitel was founded in 1973 and is based in Ottawa, Ontario.
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Buyer Overview 1

Buyer

Searchlight Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2010
PE ASSETS 860M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Searchlight Capital Partners is a private investment firm founded in 2010. The Firm will invest across the capital structure, including equity and debt and will consider a variety of transaction situations, from simple to complex. Areas of focus include communications, media, information, IT services, business services, financial services, consumer services, consumer products, education, and industrial goods/services. The Firm will consider opportunities across North America and Europe. Searchlight Capital has offices in New York, London, and Toronto.

Deal Context for Buyer #
Overall 17 of 42
Sector: Communications 6 of 13
Type: Going Private 1 of 7
State: Ontario 3 of 3
Country: Canada 3 of 3
Year: 2018 3 of 3
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-09 Anuvu

Lombard, Illinois, United States

Anuvu is a provider of media, content, connectivity, and data analytics to markets across air, sea, and land. Anuvu offers a fully integrated suite of rich media content and seamless connectivity solutions to airlines, cruise lines, commercial ships, high-end yachts, ferries, and land locations worldwide. Global Eagle Entertainment was founded in 2004 and is based in Lombard, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-17 Liberty Cablevision of Puerto Rico

Luquillo, Puerto Rico

Liberty Cablevision of Puerto Rico Ltd. is a provider of television, broadband Internet, and telephony services to customers. Liberty Cablevision of Puerto Rico Ltd. was founded in 1986 and is based in Luquillo, Puerto Rico.

Sell -

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