Advent's Circet bolts on KN Group

KN's management team will become shareholders in Circet Groupe as part of the deal.

According to a statement issued by KN, the consolidated business will have a turnover of €1.1bn, and operations in France, the UK, Ireland, Germany, Morocco and the Caribbean.

At the time of Advent's initial investment in French telecommunications network Circet, the company generated a turnover of €700m. The GP acquired the business 10 months ago in an SBO from majority backer CM-CIC Investissement, the founders, the management team and Omnes Capital. Omnes retained a 4% stake in the business following the deal.

Following the KN acquisition, both Circet and the target company will continue to operate under their existing brands and management teams.

Company
Founded in 1975, Dublin-headquartered KN provides engineering services to the telecommunications, transport, infrastructure and power sectors. The company has additional operations in Northern Ireland, Scotland, England and Barbados.

People
Advent International – Michael Ogrinz (partner).
Circet Groupe – Philippe Lamazou (CEO).
KN Group – Donagh Kelly (CEO).

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