Apax buys Italian maritime communication provider Telemar

Amedeo Goria
10 August 2016

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Buyout firm Apax Partners has acquired Telemar Group, an Italian business focused on maritime communications and navigation systems.

The deal follows Apax's recent acquisition of Marlink in June 2016. The Oslo-based company is active in satellite communication systems and on-board maintenance services for maritime sector. The business has 600 employees and 27 offices around the globe.

According to a statement, the GP intends to merge the two businesses, which will continue to operate with their respective brands. The merged group will be active in all maritime segments, including commercial ships, offshore vessels, cruise and ferry operators, yachting and fishing. It will employ 800 people and is expected to post $450m in revenues.

Company
Telemar is headquartered in Rome and has 11 offices in Italy and a further 11 offices internationally. Founded in 1947, the business provides maritime communication and navigation equipment and employs 300 people.

In 2015, the company posted a turnover of €110m.

People
Apax Partners - Bertrand Pivin (partner).
Marlink - Erik Ceuppens (CEO).
Telemar Group - Bruno Musella (CEO).

Advisers
Equity - Weil Gotshal & Manges (legal).
Vendor - Ughi e Nunziante (legal); Tamburi Investment Partners (corporate finance).