Investindustrial and Trilantic buy Euskaltel

The deal included an equity investment of more than €200m.

The GPs acquired the stake from current shareholders including Spanish bank KutxaBank, electric utilities firms Iberdrola and Endesa, business cooperative Mondragon and a number of Basque-government entities.

Private equity firms began circling the company in July before bids stalled due to imminent regional elections, the local press reported.

Company
Founded in 1995 and based in the Basque region, Euskaltel is a telecommunications provider and the sole cable operator in the region. The firm provides fixed-line, broadband and pay TV services to consumers and corporates as well as mobile services.

Euskaltel reported sales of €334m in 2011 with an EBITDA of €131m.

People
Andrea Bonomi is chairman of Investindustrial.

Advisers
Equity (Investindustrial) - GBS Finanzas (M&A); Garrigues Andersen (Legal); KPMG (Financial due diligence).

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• Topics
• Southern Europe
• Buyouts
• Support services
• Spain
• Investindustrial
• Trilantic Capital Partners (previously LBMB)