Context

Charterhouse successfully structured a massive continuation vehicle to acquire absolute majority control of Sagemcom from its tenth flagship fund, marking one of the largest single-asset GP-led transactions in Europe for 2023. Following an intensive competitive price-discovery process managed by Lazard, Charterhouse secured exclusivity to lead this new cycle alongside a powerhouse syndicate led by AlpInvest. To adequately capitalize this new phase, the transaction incorporates a sophisticated €775M "corporate hybrid" debt package (refinanced in 2022) provided by a consortium of 16 banks. This strategic structure is engineered to provide Sagemcom with a dedicated €100M M&A envelope to accelerate internal innovation and execute targeted bolt-on acquisitions, such as the recent purchase of AI-specialist Odit-e.

Target

Sagemcom is a global high-tech leader in communicating terminals with high added value. The group operates across three main markets: Broadband (gateways, routers, Wi-Fi 7), Audio & Video (STB, soundbars), and Energy & Telecom (smart meters for electricity, gas, and water). Under Charterhouse's ownership, the company has transformed into a global giant serving Tier-1 telecom operators and energy utilities worldwide.