- Highly complementary acquisition aligns with ETC Group’s
ongoing international expansion
- Follows the recent transformational acquisition of BTV
Multimedia
- Amadys acquisition will benefit the combined customer base
through new capabilities and enhanced product portfolios
ETC Group (“ETC”), a leading global provider to the telecom
network and technology infrastructure industry, announced today the
acquisition of Amadys, a leading provider of end-to-end
connectivity solutions in the Benelux, UK and DACH regions. The
financial terms of the transaction are not disclosed.
Founded in 1993 by Cédric Varasteh, ETC is a provider of passive
and active telecommunications equipment and tools, with leading
technical and logistics solutions for network deployment, upgrades,
and maintenance. Through its 30 years of extensive industry
experience, ETC supports technologies including FTTH, FTTx, HFC,
Wi-Fi, 5G/mobile, and data centres. ETC has more than 1,200
employees across more than 40 locations that span 14 countries
including the US, France, UK, Germany, Portugal and Poland and
supports more than 14,000 customers worldwide including major
American and European operators and telecommunications service
providers. The Group’s comprehensive portfolio of more than 55,000
products from nearly 1,000 industry-leading suppliers, along with
its value-added supply chain solutions, supports carriers to
deliver seamless high-speed internet, video, data, and voice
services to residential, business, and mobile users.
Based in Antwerp, Amadys is a leading system integrator of
end-to-end connectivity solutions for the telecom, infrastructure,
and energy markets. Amadys serves more than 1,000 blue-chip
customers and provides solutions from more than 500 suppliers
across the UK, Benelux, DACH regions. The business is led by one of
its founders, Hein Wilderjans, and has been majority owned by
Equistone since 2019. Amadys’ management team, who are existing
shareholders in the business, will reinvest in the transaction.
Amadys recently received a certification from a leading provider of
business sustainability ratings, demonstrating Amadys’ strong
sustainability credentials, including from a supply chain
perspective.
The combination of ETC and Amadys is highly complementary and is
expected to provide opportunities for both organisations to
leverage enhanced product offerings and capabilities, as well as to
realise synergies across the combined business. The unification
will also further enhance the management team, bringing together
two highly entrepreneurial groups. The combined company’s
distribution capabilities will support customers’ active and
passive equipment needs for network deployments, upgrades, and
maintenance during a time of increasing demand for high-speed
connectivity across their combined footprint.
In October 2022, international private equity firm, Cinven,
acquired a majority stake in ETC from Carlyle, with Cédric Varasteh
and Carlyle Europe Technology Partners (“CETP”) reinvesting in
significant minority stakes alongside Cinven.
Cédric Varasteh, Founder and Chairman of ETC, said:
“Amadys is an exceptional business which we are very pleased to
be integrating into ETC. The combination will further strengthen
both companies materially, including across key areas such as
product innovation, scale, and geographic reach. We believe that
the impact will significantly benefit both customer bases. We are
looking forward to working with Amadys’ impressive team. We have
much to learn from each other and I’m thrilled about the
opportunities that lay ahead as we bring these two great businesses
together.”
Hein Wilderjans, CEO and Co-Founder of Amadys, added: “We
are excited to be working with ETC in the next stage of Amadys’
development. Since 2016, we have grown almost exponentially, across
revenue, employee count and product capabilities. We are looking
forward to what we can achieve with ETC’s investment in this new
capacity as a combined organisation. As our customers know, the
central priority of our business has been the commitment to
providing the best end-to-end solutions in the market and that will
only continue with ETC.”
Thomas Railhac, Partner at Cinven commented: “This is an
important milestone in ETC’s growth strategy, with Amadys providing
broadened access to key markets, leverageable operational
capabilities, and customer diversity. Amadys has grown extremely
quickly over the past eight years, and we expect that growth path
to continue under ETC’s management. Much like the recent
acquisition of BTV Multimedia, Amadys will bolster ETC’s position
as a leader in the sector, driving customer-service and value.”
Cyril Bourdarot, Managing Director on the Carlyle Europe
Technology Partners (“CETP”) advisory team, said: “We believe
the acquisition of Amadys – a high quality business which
complements ETC’s existing platform – is another step towards ETC’s
goal of creating a global, industry-leading multi-billion dollar
provider to the telecom sector. Following the recently announced
acquisitions of BTV Multimedia, TIBA, and Klonex-VCS, this deal
demonstrates the continued strong momentum ETC has in executing its
growth strategy.”
The transaction is subject to customary regulatory
approvals.
About ETC Group
ETC Group is a global leader in distribution, logistics,
technical engineering, and product design with over 30 years of
expertise and performance supporting the telecommunications and
broadband industry. Founded in 1993 by Cédric Varasteh, ETC Group
supplies and distributes a comprehensive portfolio of passive and
active equipment and tools for network deployment, upgrades, and
maintenance, supporting all technologies including FTTH, FTTx, HFC,
Wi-Fi, 5G/mobile, and data centers. ETC Group employs more than
1,200 people across 14 countries, and serves more than 14,000
customers globally, including in the US, the UK, France, Germany,
Portugal and Poland. The Group’s experienced team works hard every
day to enable technology and innovation to create a more connected
future. To learn more, visit etc.group
About Amadys
Amadys is a leading provider of passive equipment for the
telecom and energy sector, with a strong local presence in Belgium,
the Netherlands, Germany, the UK, Denmark, Austria, Slovakia and
Hungary. As a system integrator of end-to-end connectivity
solutions for telecom, electricity, water & gas industries,
Amadys offers a one-stop solution to its customers across 11
European countries.
Thanks to the extensive know-how of more than 400 employees and
50,000 square meters of warehouse space, Amadys provides highly
reliable networks with fast delivery.
About Cinven
Cinven is a leading international private equity firm focused on
building world-class global and European companies. Its funds
invest in six key sectors: Business Services, Consumer, Financial
Services, Healthcare, Industrials and Technology, Media and
Telecommunications (TMT). Cinven has offices in London, New York,
Frankfurt, Paris, Milan, Madrid, Guernsey and Luxembourg.
Cinven takes a responsible approach towards its portfolio
companies, their employees, suppliers, local communities, the
environment and society.
Cinven Capital Management (V) General Partner Limited, Cinven
Capital Management (VI) General Partner Limited, Cinven Capital
Management (VII) General Partner Limited and Cinven Capital
Management (SFF) General Partner Limited are each authorised and
regulated by the Guernsey Financial Services Commission, and Cinven
Limited, the advisor to the Cinven Funds, is authorised and
regulated by the Financial Conduct Authority.
In this press release ‘Cinven’ means, depending on the context,
any of or collectively, Cinven Holdings Guernsey Limited, Cinven
Partnership LLP, and their respective Associates (as defined in the
Companies Act 2006) and/or funds managed or advised by any of the
foregoing.
For additional information on Cinven please visit www.cinven.com
and www.linkedin.com/company/cinven/.
About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep
industry expertise that deploys private capital across three
business segments: Global Private Equity, Global Credit and Global
Investment Solutions. With $373 billion of assets under management
as of December 31, 2022, Carlyle’s purpose is to invest wisely and
create value on behalf of its investors, portfolio companies and
the communities in which we live and invest. Carlyle employs more
than 2,100 people in 29 offices across five continents. Further
information is available at www.carlyle.com. Follow Carlyle on
Twitter @OneCarlyle.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230308005936/en/
Press
ETC Group: Lindsay Hittner, Director of Marketing
lindsay.hittner@ustc-corp.com +1 732-718-6283
Amadys: Thomas Verheyen Corporate Communications Director
press@amadys.com +32 3 202 16 50
Cinven: Clare Bradshaw clare.bradshaw@cinven.com +44
(0)7881 918 967
FTI Consulting LLP (Advisers to Cinven): Edward Bridges
edward.bridges@fticonsulting.com +44 (0)7768 216 607
Ben Fletcher ben.fletcher@fticonsulting.com +44 (0)7583
065638
Carlyle: Nicholas Brown nicholas.brown@carlyle.com +44
7471 037 002
Carlyle (NASDAQ:CG)
Historical Stock Chart
From May 2024 to Jun 2024
Carlyle (NASDAQ:CG)
Historical Stock Chart
From Jun 2023 to Jun 2024