Global private equity firm Advent International (Advent) is in exclusive negotiations with ICG for the sale of its stake in Circet, a European telecoms infrastructure services company.
As part of the potential deal, Circet’s founding team and managers will further increase their stakes in their company.
Circet provides its customers with turnkey solutions and tailored services across both fixed and mobile telecoms networks. Circet’s customers include major telecom operators and equipment manufacturers, local authorities, as well as public and private organisations operating their own infrastructure networks. Circet’s long-term growth potential is supported by the ever increasing consumption of data across Europe, the large-scale deployment of high-speed connections in fiber optic and mobile networks (4G and 5G), and additionally the recurring investments in fixed and mobile infrastructures.
Since Advent joined forces with Circet’s founding team and managers in early 2018, the company has grown significantly with revenues increasing threefold from EUR775 million in 2017 to EUR2.2 billion in 2021, and employee numbers growing from 3,000 to over 10,600 during the same period.
Read more/Source: Private Equity Wire
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