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PrimaCom Holding GmbH (“PrimaCom”) has entered into a definite agreement to fully acquire the national cable network operator ACN Telekabel Holding GmbH (“ACN”) from Chequers Capital S.A.
ACN Telekabel Holding operates as a holding company of national cable Operators including DTK Deutsche Telekabel GmbH, which provides modern telecommunication services like cable TV, radio, internet and telephone. In partnering with PrimaCom, the German cable market will further be consolidated and both companies will realise sustainable, valuable synergies and an improvement of its broadband services in their respective regional area.
Roland Steindorf the CEO of ACN said: ”With the acquisition, two successful companies, in their respective region, with comparable business models and a strict customer focus on housing associations are growing together. Not just because of these reasons, I see the acquisition through PrimaCom as an ideal solution to ensure the long term protection and expansion of the customer base and the fibreglass-based network infrastructure.”
As a national cable network operator with regional focus, PrimaCom provides for approximately one million households multimedia– and telecommunication packages. Due to the acquisition of ACN, PrimaCom will gain approximately 270,000 customers in its core business and thereby will increase its reach by 30% to 1.3 million households.
About Chequers Capital
Chequers Capital was founded 1973 in Paris and is one of the oldest strategic investors in Europe. With more than 250 executed investments, Chequers Capital possesses significant experience in the acquisition and development of small and mid-size businesses as well as big companies, always in a strong cooperation and partnership with the management teams. The focus is on majority and minority stakes of profitable, stable mid size businesses in a market leading position, with attractive growth potential and an enterprise value between EUR 50m and EUR 500m.
About ACN Telekabel Holding
Operates as a holding company of DTK Deutsche Telekabel and other regional cable operator with interest in providing cable network services. ACN is a major German independent network operator, with approximately 270,000 customers and a focus on Eastern Germany.
Headquartered in Mainz, PrimaCom is presently Germany’s third-largest Independent cable network operator, with more than 1.35 million homes passed and with presently more than 930,000 customers. PrimaCom offers multimedia services to its customers via its own broadband cable network. PrimaCom is continually evolving into a multimedia communications company.