Acentic GMBH / PhilWeb Corporation & ISM Communications
Cavendish Corporate Finance LLP is pleased to announce the sale of a controlling stake in Acentic, one of Europe’s largest providers of digital television and internet access to 4 and 5 star hotel groups.
The 65% stake owned by GI Partners (a leading private equity firm focused on asset backed investments in North America and Western Europe) was acquired by a new Joint Venture company established by Philippines based Philweb Corporation (WEB) and ISM Communications Corporation (ISM). The controlling stake was acquired for a cash consideration of €19.5 million. The remaining 35% of Acentic will continue to be owned by Niantic Holdings GmbH, a German company controlled by Dr. Andreas Jacobs.
Acentic is an international provider of digital and internet protocol (IP) converged services to hotels. Acentic’s technology and service platform delivers entertainment (including video on demand) and other revenue generation tools which provide a unique communication system that meets the evolving lifestyles of guests. Acentic’s digital television services and high speed internet access are in many of the world’s leading hotel chains including Accor, Dorint, Intercontinental Hotel Group, Hilton, Hyatt, Maritim, Marriott, Mövenpick and Starwood. Operating in more than 30 countries across Europe, the Middle East and Africa, Acentic has approximately 200,000 hotel rooms under contract and is the second largest in-room entertainment service provider in Europe.
WEB and ISM see Acentic as a perfect fit for the information technology and telecommunications business of ISM and the gaming expertise of WEB. The acquisition will enable Acentic to grow its predominantly European market to include the Asia-Pacific region, the fastest growing hotel market in the world.
The transaction was led by Cavendish John Farrugia
Commenting on the transaction, John Farrugia said:
”We were pleased to support Phil Kaziewicz and Forbes Stuart of GI Partners in this transaction. Cavendish generated a significant interest in Acentic from private equity investors across Europe as well as international trade interest. This wide international buyer reach demonstrates the benefit of Cavendish’s membership of M&A International Inc, the world’s leading alliance of corporate finance firms.
The sale of Acentic to WEB and ISM, with their expansion and development plans, is a huge endorsement of the Acentic management team, who have built the business to its current size and will also stay with the new business owners.”
“The finnCap Cavendish team were exceptional from start to finish on our deal, helping us to prepare meticulously for the process, identifying a group of highly strategic buyers and negotiating a fantastic deal for our Shareholders. We would thoroughly recommend them to any owners considering an exit.”
“Thank you to John and your fantastic team at FinnCap Cavendish for your unwavering support, dedication, work ethic and belief in Xexec’s mission. John, Mike and Sam were instrumental in bringing the deal to a successful completion and provided invaluable guidance throughout the process.
We look forward to our new partnership with the Castik and Abry teams who are the ideal partners as we continue to expand our business and pursue the next phase of our strategy.”
‘The finnCapCavendish team were great to work with, they took time to listen, properly understand our objectives and tailored the process to get a fantastic result for us. They really understood the value drivers in the ICT sector and had access to all the key buyers for our business, they were able to efficiently manage the sale process maintaining the great relationship we’d built we Adept as our preferred buyer.’
“Thank you to Jon, Steph and Chirag for their tireless efforts in recent months. Jon offered invaluable leadership and strategic advice, while Chirag and Steph provided diligent and supportive guidance throughout. They also behaved throughout as one would expect friends and confidants to act, which is very helpful in a confidential situation. We were delighted with the result and very, very pleased to have had the three of them as our team.”
“Cavendish understood our ambitions from day one and went to great lengths to understand the minutiae of the business in order to effectively position the investment proposition as it evolved throughout the transaction. Cavendish were not just an advisor but a true partner to the Systal team throughout the process all the way through to completion.”
“The Cavendish team of Jon, Chris, Chirag and Soben steered the process from start to finish and were instrumental in bringing this transaction to a successful conclusion with the right partner in the form of Naviga. The sale of Miles 33 to Naviga marked a successful exit for the financial investors and provides management with a larger platform to grow the business.”
“We are delighted to have secured this transformational funding. The open market does not serve everyone and the funding enables us to provide a choice to many more sellers. We would also like to thank Jon, Ben, Steph for their efforts – they provided invaluable advice and hands-on support throughout the process, providing us with a trusted advisor that saw the transaction through to completion.”
In Thomson Reuters, we found a strategic buyer that shares our commitment to the rule of law. We have a proven track record of enabling the courts’ digital transformation of the UK. We are optimistic that with Thomson Reuters global footprint we will be able to help courts around the world to continue to operate effectively and efficiently into the future.
We’d also like to place on record a huge thank you to Jon, Sam and the Cavendish team. From identifying Pelican Capital through to providing advice and support throughout the due diligence process, Cavendish deserve a great deal of credit for delivering the fundraise in an exceptionally challenging environment.
“On behalf of the shareholders, we’d like to thank Cavendish for their advice, tireless work ethic and professionalism throughout the process. Jon, Mike and the team were instrumental in achieving a fantastic result for both the shareholders and the company, as we embark on our exciting next phase of growth with a new investor. We knew we had chosen the right partner in Cavendish and you did not let us down.”
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