Quaestus sells Metronet to Telekom Austria

Telekom Austria acquired a controlling stake in the business through its Croatian sister company Vipnet. Financial details surrounding the transaction have not been disclosed.

The sale follows an eight-year holding period, with Quaestus having originally invested via its first vehicle, Quaestus Private Equity Kapital. Launched in 2003, the fund raised €35m from Croatian institutions, banks, pension funds and insurance funds, as well as high-net-worth individuals.

More recently, the GP made its first exit in the telecommunications sector through the sale of Tele2 Hrvatska, achieving 2.25x multiple and an IRR of 20%.

Previous funding
In May 2005, Quaestus acquired a majority stake in the business for an undisclosed amount. In January 2007, the GP provided a €1.75m recapitalisation round for the business. The funding was used for the development of services and continued expansion of the network.

More recently, it led a further €12.9m funding round for the company in April 2008.

Company
Established in 2005 and based in Zagreb, Metronet offers communications services, including fixed-line, as well as IT- and cloud-related services. The business has a presence in 66 cities.

In 2015, the company posted a turnover of €28m and €12m EBITDA, according to a statement.

People
Metronet Telekomunikacije – Željko Lukac (chairperson).

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