Oaktree buys stake in Marlin's Coriant

The deal saw Oaktree provide an undisclosed amount of growth capital to the business, acquiring a significant minority stake. Nonetheless, existing majority shareholder Marlin Equity Partners is understood to be retaining a controlling stake. Additional financial details surrounding the agreement have not been disclosed.

Previous funding
Marlin has been holding a controlling stake in the business since its foundation following a merger between Nokia Siemens Networks' optical networks business and Sycamore Networks in May 2013. A few months later, the GP bolted on Illinois-based competitor Tellabs to the group in December 2013.

Company
Founded in 2013 and headquartered in Munich, Coriant provides optical transport for fixed-line and mobile services. Currently, the business has a presence in 48 countries, including Germany, Portugal, Finland, Canada and the US.

People
Oaktree Capital Management – Cass Traub (managing director).
Marlin Equity Partners – Doug Bayerd (principal).
Coriant – Shaygan Kheradpir (chair, CEO).

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• Topics
• Expansion
• DACH
• Technology
• Germany
• Oaktree Capital Management