Star Capital Partners


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12 August 2010  

STAR Capital Partners acquires German cable operator, Pepcom

STAR Capital Partners (“STAR”), a leading European investment fund manager focused on investing in capital intensive businesses, announces today it has acquired Pepcom GmbH (“Pepcom”) from GMT Communication Partners and Veronis Suhler Stevenson in a bilateral transaction. 

Pepcom was founded in 2001 and is now Germany’s 6th largest cable operator with more than 630,000 subscribers of video, broadband and voice services. Pepcom operates throughout Germany, providing a full range of services including analogue and digital T.V. channels, digital pay‐T.V., broadband and VOIP telephony.
STAR’s aim is to support the continued growth of the business in the German market and to expand the service offering. Pepcom’s management team has substantial experience driving organic growth through upgrading and extending cable networks and delivering high speed broadband services to the benefit of customers. Management also has a successful track record integrating and streamlining cable operator acquisitions. Pepcom is therefore well placed to play a leading role in the ongoing consolidation of the German cable market where approximately 50% of the market is fragmented. 

The business will continue to be led by Martin Bilger who has been instrumental in growing the business for over 20 years. 

Pepcom is the 6th acquisition completed by STAR in Germany, following investments in BUS Group, GWE GmbH, Abellio GmbH, GSES GmbH and Alloheim Senioren Residenzen AG.

Commenting on the deal, Stephen Wright, Partner at STAR, said:

“STAR is acquiring a business with a long‐term contract base and resilient strategic cable network assets making this an ideal investment for the STAR fund. The growth opportunities, developing tailored next generation cable and broadband solutions for housing associations require further capital which STAR is well placed to provide. We look forward to working with Martin and his team to accelerate the growth of the business.”

Martin Bilger, said:

“With this partnership, we can continue our successful business model serving housing associations and the consumer by building, owning and operating state of the art cable networks. Our new suite of smart metering and intelligent home products leverage our advanced cable network infrastructure to provide innovative services for landlords and tenants.”

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