CVC Credit is pleased to announce that it has committed debt facilities to support Cinven's acquisition of Euro Techno Com ("ETC Group"), a specialised distributor for the telecom and technology infrastructure industry.
Founded in 1993, ETC Group is a global leader and partner in the design, procurement and distribution of materials, tooling and equipment used by telecom operators and their subcontractors to install, build and maintain wireline and wireless infrastructure and other digital infrastructure. Headquartered in France, the Group has c.1,100 employees and c.14,000 customers based primarily across Europe and the US.
ETC Group is led by an experienced management team, with a strong record of successful acquisitions to broaden its geographic scope and customer base. The company has built a strong market position as a global leader and critical link between sourcing and distribution of materials for the telecommunications industry in France, Portugal, the US, UK, Israel, Dominican Republic, Qatar, Oman, UAE, Hong Kong, Morocco, Germany and Poland.
This transaction is a great example of the power of the CVC Network, which allows us to draw on its knowledge and experience, particularly that of CVC's Technology, Strategic Opportunities and France teamsAndrew Davies
Dominic Connelly, Director at CVC Credit commented: "ETC Group's critical and highly regarded service offering, position it as a key enabler in the rollout of telecoms infrastructure. Its resilient and bespoke business model, as well as market tailwinds, are helping the business to accelerate its growth and increase market share, while at the same time, continuing to deliver high levels of customer satisfaction."
Andrew Davies, Partner and Co-Head of Private Credit at CVC Credit, said: "This transaction is a great example of the power of the CVC Network, which allows us to draw on its knowledge and experience, particularly that of CVC’s Technology, Strategic Opportunities and France teams, which will help us support ETC Group better during their next stage of exciting growth."