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Apax, Deficom to Buy Numericable Assets

Buyout shop Apax Partners has teamed up with Deficom Telecom to acquire certain assets of French cable operator Numericable. The two companies will pay more than 350 million euro ($493 million) for Numericable’s units in Belgium and Luxembourg. Deficom is based in Luxembourg.

Apax Partners LLP and Deficom Telecom intends to acquire Belgian and Luxembourgoise assets of Numericable, a France-based cable operator, for more than EUR350 million.

Apax is a UK-based private equity firm, while Deficom is a Luxembourg-based company formed by consortium of local investors and led by Belgian entrepeneur Philippe Lhomme.

Under the agreement, Deficom Telecom will acquire 60% of the cable networks, with 40% going to Apax. Numericable Belgium serves 150,000 customers, mainly in Brussels, Wemmel and Drogenbos, and the Luxembourgoise network counts about 30,000 subscribers, which represent about 25% of the total cable TV market.

Deal Value (US$ Million) 502.07 Deal Type Private Equity Sub-Category None Deal Status Announced: 2011-05-12 Deal Participants Target 1 (Company) Numericable – Assets – Luxembourg Target 2 (Company) Numericable – Assets – Belgium Acquirer (Company) Deficom Telecom Vendor (Company) Numericable