EQT sells Kabel BW to Liberty Global

Private equity firm EQT has sold 100% of German cable network provider Kabel BW to US media house Liberty Global for €3.16bn.

The vendor acquired Kabel BW in 2006 from Blackstone in a secondary buyout

Since then sales increased by 120% to €563m and EBITDA grew by 160% to €316m. The company has a reported EBITDA margin of 56%.

During the holding Kabel BW has invested over €600m in capex to establish its network in Europe and upgrade its services.

Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote

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Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater