Investment further strengthens ambition of United Group as the
regional leader in communication and media
KKR maintaining substantial minority stake
LONDON & AMSTERDAM–(BUSINESS WIRE)–
Funds advised by BC Partners (“BC Partners”), a leading international
investment firm, today announced the signing of a definitive agreement
whereby BC Partners will acquire majority ownership of United Group B.V.
(“United Group”) from KKR, a leading global investment firm. KKR will
retain a substantial minority stake. Financial terms of the transaction
were not disclosed, and the transaction is subject to relevant
regulatory approvals.
United Group is the leading media and communication services provider
across South East Europe. Through significant investments in digital
infrastructure, content and proprietary technology, it provides
market-leading services to its customers across the region. Over the
past 18 years the Group has expanded its presence through both organic
growth and acquisitions, now employing over 3,400 staff and providing
services to over 1.8m homes.
Nikos Stathopoulos, Partner at BC Partners said: “We are delighted to
partner with United Group’s management team and KKR to support the
company’s next phase of growth. United Group is a high-quality asset,
with defensive growth characteristics, leading infrastructure,
differentiated content and loyal customers. Its attractive and
integrated business model and regional leadership position it well for
further organic and acquisitive growth.”
Since its investment in 2014, KKR has supported United Group to build
the company into the leading provider of communications and media
services in South Eastern Europe. United Group’s fibre and cable
networks have the largest presence in the region, covering 1.82m homes
which benefit from broadband speeds over 2.6x higher than local peers
and high quality local and international content.
Jean-Pierre Saad, Managing Director at KKR said: “We are proud of the
way in which United Group has developed over the last five years. It is
a great example of a truly convergent operator across communications and
media with market leading product innovation and services. We will
remain closely committed to the further development of United Group and
are looking forward to working with BC Partners and the management team
to further strengthen the company’s growth.”
Morgan Stanley and LionTree are acting as advisers to BC Partners while
Credit-Suisse is advising United Group.
-ENDS-
About BC Partners
BC Partners is a leading international investment firm with over EUR18
billion of assets under management in private equity and private credit.
Established in 1986, BC Partners has played an active role in developing
the European buy-out market for three decades. Today, BC Partners
executives operate across markets as an integrated team through the
firm’s offices in North America and Europe.
Since inception, BC Partners Private Equity has completed 104 private
equity investments in companies with a total enterprise value of €129
billion and is currently investing its tenth private equity fund. On the
Private Credit front BC Partners Credit is currently investing Special
Opportunities Fund I. For more information, please visit www.bcpartners.com.
About KKR
KKR is a leading global investment firm that manages multiple
alternative asset classes, including private equity, energy,
infrastructure, real estate and credit, with strategic manager
partnerships that manage hedge funds. KKR aims to generate attractive
investment returns for its fund investors by following a patient and
disciplined investment approach, employing world-class people, and
driving growth and value creation with KKR portfolio companies. KKR
invests its own capital alongside the capital it manages for fund
investors and provides financing solutions and investment opportunities
through its capital markets business. References to KKR’s investments
may include the activities of its sponsored funds. For additional
information about KKR & Co. Inc (NYSE: KKR), please visit KKR’s website
at www.kkr.com
and on Twitter @KKR_Co.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180927005424/en/
Media Contacts
For BC Partners
Henrietta Dehn /
Jonathan Hodgkinson
Prosek Partners
Phone: +44(0)20 3878 8566
Email:
pro-bcpartners@prosek.com
or
For
KKR
Alastair Elwen
Finsbury
Phone: +44(0)20 7251 3801
Email:
alastair.elwen@finsbury.com
Source: KKR