News 2003
BC Partners Acquires TeleColumbus from Deutsche Bank for €510m
Deutsche Bank AG (NYSE: DB) and BC Partners announced today that they have signed a sale and purchase agreement for the acquisition of TeleColumbus Group by funds advised by BC Partners from Deutsche Bank for a total consideration of €510 million. TeleColumbus Group comprises TeleColumbus GmbH and TeleColumbus Ost GmbH (formerly SmatCom AG). The transaction is subject to various conditions, including approval by the German Cartel office.
TeleColumbus Group is the leading Level 4 cable service provider in Germany with currently more than 2.3 million cable customers and revenues of circa €235 million in 2002.
Raymond Svider, Senior Partner who led the BC Partners team on the transaction, said: "We like the stable and defensive nature of the business model of TeleColumbus, as well as its leading competitive position. We are looking forward to supporting the Company in its future development as the pre-eminent German cable service provider".
Stefan Zuschke, Senior Partner of BC Partners in Hamburg, added: "This acquisition further strengthens BC Partner’s strong commitment and long-standing presence in the German market. We are delighted to be associated with one of the most talented management teams in the industry in Germany and look forward to working together with them in building the business."
Funds advised by BC Partners will acquire 100% of the group in association with its management team. HypoVereinsbank, ABN AMRO and Royal Bank of Scotland will provide the debt facilities. Deutsche Bank was advised by Deutsche Bank Global Corporate Finance on this transaction.
BC Partners
BC Partners is a leading pan-European private equity firm, operating through integrated teams based in London, Paris, Milan, Hamburg and Geneva. Over 17 years, the firm has developed a long track record of successfully acquiring and developing European businesses in partnership with management, investing in 52 acquisitions with a total value of €25 billion. The BC European Capital VII funds have total commitments of €4.3bn, one of the largest buy-out funds raised in Europe to date. The firm is independent and unaffiliated with any investment bank.
Deutsche Bank
With roughly €758 billion in assets and approximately 77,000 employees, Deutsche Bank offers its 13 million clients unparalleled financial services in 76 countries throughout the world. The Bank aspires to be a leading global provider of integrated financial solutions for demanding clients and the pre-eminent bank in Germany generating exceptional value for its shareholders and people.
Deutsche Bank ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management, and has a significant private & business banking franchise in Germany and other selected countries in Continental Europe.