Carlyle-backed Euro Techno Com buys Comtec

The acquisition is the first add-on since Carlyle acquired the company and intends to expand the company's presence in the UK market.

The deal was financed using cash from ETC's balance sheet.

CEO John Archer, along with managing directors John Buck and Dan Conway, will remain involved in the business, according to a statement.

Carlyle acquired a majority stake in ETC in September 2019, deploying equity via Carlyle European Technology Partners IV, which held a final close in January 2019 on €1.35bn. Permira and Pemberton provided a debt package to support the acquisition.

Company
Founded in 1978, Comtec produces and distributes data, internet protocol and telecommunications equipment, including cables, cabinets, fixings and fastenings. Its client base comprises cable operators and telecoms services, as well as independent installers and sub-contractors. Comtec is based in Huntingdon and has additional offices in Oman, Qatar, the UAE and Hong Kong. It employs 150 people and generates revenues of £80m.

People
Carlyle – Cyril Bourdarot (director, Carlyle Europe Technology Partners); Vladimir Lasocki (managing director, co-head of Carlyle Europe Technology Partners).
Comtec – John Archer (founder, CEO).
ETC – Cédric Varasteh (founder).

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