BC Partners makes full exit from Com Hem in SEK 3.7bn sale

The sale was agreed at a price of SEK 110 per share and will mark the final exit for the BC European Capital IX fund, realising a money-on-money return in excess of 2x. The price of SEK 110 is a 90% premium on the IPO price.

Since its acquisition of the company in 2011, BC Partners has invested in operational improvements for Com Hem, including strengthening the management team, implementing new customer satisfaction and pricing initiatives, and launching new broadband products. It has also overseen the acquisition and integration of B2B data and telecommunications company Phonera.

Com Hem was floated via an IPO on the Nasdaq Stockholm in 2014 at a price of SEK 58 per share, valuing the company at SEK 11.47bn. This final sell-down is the fourth sale of shares by BC Partners since the flotation.

Previous funding
Com Hem was acquired by BC in 2011, with the firm paying around €1.85bn to buy the business from Carlyle and Providence Equity Partners.

The two parties had acquired Com Hem in January 2006 for €1.49bn in a secondary buyout from EQT, which had paid €235m to buy the company back in June 2003, according to unquote" data.

Com Hem listed on the Nasdaq Stockholm exchange in 2014 in an IPO that valued the group at SEK 11.47bn.

Company
Founded in 1983 and headquartered in Stockholm, Com Hem is a provider of broadband, television and telephony services in Sweden. According to the company, around 1.45 million customers are connected to Com Hem.

The company employs 1,100 staff and generated revenues of SEK 5.65bn in 2016, as well as an underlying EBITDA of SEK 2.5bn.

People
BC Partners – Nikos Stathopoulos (managing partner).
Com Hem – Andrew Barron (chariman).

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