Deal Announcement 11/20: Engineering & Construction/Industrial Products
PwC acted as exclusive financial advisor to Teleste Oyj on the sale of Cableway Group, a leading German service provider for telecom network infrastructure, to Circet Group
The Deal
The PwC M&A team is pleased to announce the successful sale of Cableway Group (“Cableway”), a German telecom network infrastructure service provider, to Circet Deutschland GmbH (“Circet”), a Circet Group subsidiary. PwC M&A acted as exclusive financial advisor to Teleste on the transaction.
The share purchase agreement was signed on 2nd October 2020 and closed on 2nd November 2020.
Cableway
Headquarterd in Bergisch Gladbach, Germany, Cableway provides construction, installation and maintenance services for the telecom network infrastructure in Germany.
Teleste
Teleste Oyj, listed on the NASDAQ Helsinki (TLT1V:Helsinki), is a Finnish technology company which offers broadband video and data communication networks and services. In 2019, Teleste generated net sales of €235 million and had 1,330 employees.
Circet
Circet is a leading European network service provider in Europe with operations in France, Germany, Ireland and the United Kingdom, Spain, and Morocco. In 2019, Circet generated €1.4 billion in total sales and had 6,300 employees worldwide.
Circet is backed by Advent International, a US-based private equity firm.
PwC
The global PricewaterhouseCoopers network is a worldwide association of independent auditing and consulting companies which together employ more than 280,000 people in 157 countries. Our global network comprises over 1,600 M&A professionals all over the world, realising approx. 400 successful transactions per year. We specialise in a wide range of independent M&A services including advice on acquisitions and disposals, mergers, public takeovers, privatisations as well as structured financing.
PwC M&A Germany acted as exclusive financial advisor to Teleste on the transaction. The transaction was led by Dr. Alexander von Friesen (Partner, Co-Head M&A) and Oliver Boot (Senior Manager), supported by Daniel Maccarrone (Senior Associate) and Lei Ding (Senior Associate).
