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BC Partners agrees $2.6bn Com Hem buyout

22 Jul 2011

London-headquartered investment firm BC Partners has agreed to acquire Swedish cable company Com Hem for $2.6bn, in one of the largest private equity acquisitions in Europe this year.

The company is owned by Carlyle Group and Providence Equity Partners, which bought it from Northern European private equity group EQT in 2005.

Com Hem is Sweden’s largest cable telephone operator, providing analog and digital television, broadband internet and telephone services to the country.

It was recently reported that Nordic Capital had backed out of the running to acquire the cable company.

“We are delighted to be backing a strong management team at Sweden’s leading cable TV operator and provider of communication and entertainment services to almost two million households. Com Hem’s defensive growth profile and strong platform and infrastructure, should enable its continued growth, as we look to invest in expanding its digital TV and high speed broadband offeringsaid Nikos Stathopoulos, managing partner of BC Partners.

Benoit Colas, managing director of Carlyle Europe Partners, said, “Com Hem has proved to be an excellent investment for Carlyle and Providence, having delivered strong growth and robust performance even through challenging economic times. We congratulate Tomas Franzén and his team for their extraordinary achievements during our partnership.”

Earlier this month, BC held an interim close on its latest fund on €5.5bn, targeting a final close of €6bn.

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