Citizen Capital, Entrepreneur Venture and NextStage have sold their stakes in Trace TV, a French media brand and pay-TV channel operator, to Swedish broadcaster Modern Times Group (MTG).
Consortium of investors supporting the funding round includes existing and new backers
Vehicle is larger than its predecessor, Xenon Private Equity VI, a €184m fund closed in July 2014
GP intends to boost the company's organic growth and further strengthen its market position
Acquisition of the family-owned company adds to the GP's industrial portfolio