Permira Debt Managers (“PDM”), one of Europe’s leading specialist debt investors, today announces that funds it advises are acting as senior secured lender in The Carlyle Group’s acquisition of Euro Techno Com (“ETC”). The deal is PDM’s first with Carlyle Europe Technology Partners (“CETP”) and continues their strategy of working with high-quality, expert sponsors and ambitious niche market leaders. The transaction is also supported by Pemberton.
Founded in 1993 by Cedric Varasteh, the ETC Group is headquartered in Eaubonne (Ile-de-France), France and has operations in France, the United States, Portugal and Israel. The company’s offering covers product design, procurement and supply chain, including logistics for cable and telecom operators and network installers. Its model enables telecom customers to maximize operations efficiency and lower their deployment costs. Customers include major American and European cable and telecom operators, as well as large and small independent installers and sub-contractors.
Roy Awad, Investment Director at PDM, said:
“We are delighted to have been able to support ETC, its management and Carlyle in this transaction. ETC is a fast-growing company with a consistently strong financial performance, and alongside such an experienced sponsor, we are confident that they can continue their growth trajectory in providing a flexible credit solution to support their continued growth ambitions.
“We look forward to working with both ETC and Carlyle to support the next stages of this business’ development.”
The PDM funds have now supported over 150 ambitious and fast-growing European companies with over €8bn of capital since PDM’s inception in 2007.