GML’s subsidiary, the shareholder of GTS Central Europe, has entered into an agreement to sell 100% of the shares in GTS CE to a consortium of private equity funds, led by Columbia Capital, M/C Venture Partners, Innova Capital and Bessemer Venture Partners. The transaction itself is expected to close in 1Q 2008.
GTS Central Europe (www.gtsce.com)
GTS CE operates a group of alternative telecom service providers in Czech Republic, Poland, Hungary, Romania and Slovakia. Its focus is primarily on the business customer segment. In addition to GTS CE provides service to customers in Ukraine, Latvia, Slovenia, Bulgaria, Croatia and Serbia.
GTS CE expects to achieve consolidated revenues of approximately € 393 million and EBITDA of approximately € 69 million in 2007.
Innova Capital (www.innovacap.com)
Innova Capital is a leading private equity player in Central Europe, advising four investment funds in the region. In total Innova Capital has approximately € 500 million under management.
Innova’s strategy focuses on building companies into market leaders that can compete with the best in their fields worldwide. Innova funds mainly invest in media, financial services, IT/telecommunications, business services and manufacturing.