Paris, July 1st 2011 - APAX PARTNERS, one of France's leading private equity firms, and DEFICOM TELECOM, a Luxembourg company comprising DEFICOM and ALTICE, have acquired the Belgian and Luxembourg operations of cable network operator NUMERICABLE.
Numericable Belgium/Luxembourg is the leading cable operator in the Brussels region (approximately 110,000 subscribers) and boasts 25% of the Luxembourg market (approximately 30,000 subscribers). Its share capital is now owned by the funds managed by APAX PARTNERS (40%), ALTICE (40%) and DEFICOM (20%).
Numericable Belgium/Luxembourg has developed an attractive range of Triple Play offers combining powerful broadband Internet access, a wide digital TV offer (250 channels) and fixed-line telephony. It stands out due to its numerous innovations, and was a pioneer in superfast broadband, VOD, HD, unlimited calls and 3D TV on its networks.
APAX PARTNERS, DEFICOM and ALTICE aim to accelerate the operator's growth in both countries, building on its Triple Play offer to win new subscribers. It could also play an active role in the consolidation of the sector, which remains highly fragmented at the local level.
Pascal Dormal, Managing Director of Numericable Belgium/Luxembourg, said: "I am looking forward to embarking on a new partnership with ambitious and complementary shareholders. Numericable Belgium/Luxembourg 's new shareholders provide not only a deep understanding of the telecom and cable businesses, but also local roots for the company and growth prospects in association with other local players. Apax Partners, in particular, is a quality private equity investor, highly focused on its investments. Apax Partners shares the same vision as Numericable Belgium/Luxembourg in respect of the development of Triple Play services and its desire for acquisition-led growth, particularly in Luxembourg."
Thomas de Villeneuve, Partner at Apax Partners, said: "We are very happy to be supporting Numericable Belgium/Luxembourg in its ambitious growth strategy, and to be joining forces with Altice and Deficom for this venture. Numericable Belgium/Luxembourg offers bright growth prospects, in respect of the rollout of its Triple Play offers and its plans for new services, as well as its acquisition opportunities in the Benelux countries and other areas. Apax Partners is once again excited to be backing a growth company driven by a front-ranking team in the media and telecom sector ."
About Altamir Amboise
Altamir Amboise is a listed private equity company, targeting NAV per share growth.
Until the end of 2010, Altamir Amboise co-invested with the funds managed by Apax Partners, a leading private equity firm with over 30 years of investing experience. Since 1 January 2011, Altamir Amboise invests directly in funds managed by Apax Partners, in particular the Apax France VIII fund.
Altamir Amboise offers investors access to a diversified portfolio of fast-growing companies, across Apax's sectors of specialisation: Technology, Telecoms, Retail & Consumer, Media, Healthcare, and Business & Financial Services.
Altamir Amboise is listed on the NYSE Euronext Paris, Compartment B, ticker: LTA, ISIN code: FR0000053837. It is listed in the CAC Small (ex CAD Small 90) and CAC All-Tradable (ex SBF 250) indices. The total number of Altamir Amboise ordinary shares in circulation at 31 March 2011 was 36,512,301.
For further information: www.altamir-amboise.fr
ALTICE is a Cable and Telecom investment company, founded by Patrick Drahi. Its purpose is to identify and acquire opportunities in the telecoms space, and to create value through operational excellence. The company has developed a unique expertise in this field since 1994. It consolidated the cable sector in France, Belgium and Luxembourg, and expanded its presence in Switzerland, the Caribbean and Israel. Since 2002, ALTICE has raised equity and debt in excess of ¤10 billion.
DEFICOM is an investment company specialising in communications, media and leisure. DEFICOM has extensive experience in cable distribution. Its Chairman, Philippe Lhomme, chaired the Board of Directors of CODITEL before it adopted the NUMERICABLE brand. DEFICOM has also in the past invested in pay-TV in Belgium. DEFICOM's shareholders include BAYCROSS EUROPE (controlled by Philippe Lhomme), SRIW and FINANCIAL ROOSEVELT (Jean de Cloedt).
Tel: +33 1 53 65 01 35
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