Disposal of Sagemcom to Charterhouse
FR
Sycomore Corporate Finance acted as financial advisor to Sagemcom and its management
Sagemcom is a French high-tech group with strong positions in high-end digital TV set-top boxes, very high speed broadband residential terminals and advanced smart meters. Under Carlyle’s ownership, Sagemcom has significantly grown its core businesses: the group has increased its international exposure especially in Latin America and North America, and gained a significant share in the roll-out of smart meters in Europe while consistently investing in R&D to maintain Sagemcom’s superior technology edge and innovation expertise.
Over the last five years, Sagemcom has been deeply transformed and refocused on its core business: broadband activities and energy solutions, where it has built strong market positions based on innovation, product excellence and operational agility.
Rationale
Sagemcom is a French high-tech group of international dimensions, the group operates on the broadband (digital home, set-top boxes, Internet routers, telephony and multimedia terminals), smart city (smart meter, smart grid, smart infra, smart sites and smart services) and Internet of Things markets (founding member of the LoRa Alliance).
With revenue of around €1.3bn in 2015, Sagemcom employs 4,000 people on five continents and ships every year more than 23 million terminals. Sagemcom aims to remain a world leader in communicating terminals with high added value.
Charterhouse is one of the longest established private equity firms operating in Europe. The firm invests in companies headquartered in Western Europe and works closely with incumbent management teams, backing them and providing active support to drive growth. Transaction values range from €250m to €2bn. Charterhouse is based in London and has completed over 140 transactions for an aggregate value of over €50bn since inception.
Founded in 1987 in Washington, The Carlyle Group is one of the world’s largest investment firms with $178bn of assets under management. It typically invests between $5m and $50m for venture investments and between $20m and $1bn for buyouts in companies with enterprise value of between $40m and $1.0bn and sales value of $10m and $500m.