At what enterprise value was CIRCET acquired in 2021?

During the acquisition of CIRCET by ICG in 2021, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 3b - 100b EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the TMT (Tech, Media, Telecom) industry currently tracks an average EBITDA multiple of 15.1x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of CIRCET when it was acquired by ICG?

The estimated EV/EBITDA multiple for CIRCET is in the range of 5x - 12x. For comparison, the TMT (Tech, Media, Telecom) sector currently shows an average EBITDA multiple of 15.1x. Join our community for free to access full valuation data and industry trends.

When was CIRCET acquired by ICG?

CIRCET was acquired by ICG in 2021.

What was the revenue of CIRCET at the time of the deal?

The revenue of CIRCET at the time of the deal is estimated to be in the range of 1b - 3b EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of CIRCET during the acquisition?

CIRCET's EBITDA is estimated to be in the range of 250M - 500M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the CIRCET acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the CIRCET deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.cfnewsinfra.net/L-actualite/LBO/LBO-ter/Circet-valorise-plus-de-3-Md-437452

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Home Database TMT (Tech, Media, Telecom)CIRCET

05/2021

CIRCET acquired by ICG

FRANCE IT Services EV 3b - 100b EUR

Context

UK-based investment firm Intermediate Capital Group (ICG) has acquired a majority stake in Circet from Advent International in a third leveraged buyout (LBO). The deal values the French group +€3.2 billion, more than triple the valuation when Advent invested in 2018. This transaction is one of the largest private equity deals in the European telecom infrastructure sector this year. The sale process, led by Morgan Stanley and Natixis Partners, attracted interest from several prominent international funds, including BC Partners, Cinven, CVC Capital Partners, and Access Industries. Following a competitive process, ICG entered into exclusive negotiations and ultimately secured the acquisition with the best offer. The deal structure provides for ICG to hold a stake slightly above 50%, while the management team, led by Philippe Lamazou and Rachid Abdi, will reinvest a significant portion of their sale proceeds to retain over 40% of the capital. The transaction is financed in part by a €1.6 billion Term Loan B arranged by BNP Paribas and Natixis. The deal comes after a period of strong value creation under Advent, during which Circet nearly tripled its revenue through a combination of organic growth and international acquisitions. With this acquisition, ICG aims to continue the group's consolidation and geographic expansion strategy. The fund plans to accelerate Circet's development in Europe while preparing its entry into new international markets, particularly the United States. The transaction marks a new stage in Circet's transformation into a global leader in telecom infrastructure services.

It is worth noting that the fund Advent International took control of Circet through an LBO in 2018.

CIRCET, which reported an EBITDA margin of in 2020, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the TMT (Tech, Media, Telecom) sector (15.1x).

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Target

Circet is a leading European provider of telecom infrastructure services. Founded in the 1990s and headquartered in Solliès-Pont, Var, the group supports telecom operators, equipment manufacturers, local authorities, and infrastructure owners in the deployment, maintenance, and operation of fixed and mobile telecommunications networks. The company operates across the entire telecom infrastructure value chain, from network design and engineering to construction, connection, and maintenance. Its activities encompass the rollout of fiber optic networks, 4G and 5G mobile networks, as well as infrastructure associated with large-scale digital transformation programs.

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List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
04/2018	ADVENT INTERNATIONAL	CIRCET	FRANCE	IT Services

REFERENCES

Valuation range: EV 3b - 100b EUR

Revenue range: 1b - 3b EUR

EBITDA range: 250M - 500M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of CIRCET by ICG are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: circet

Acquirer: icg