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Advent International sells SAG to EQT

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10 December 2007, Frankfurt - Advent International, the global private equity firm, today announced the sale of SAG, Europe’s leading provider of energy-related infrastructure services to utilities, to private equity group EQT.

In May 2006, Advent International invested in SAG as part of the acquisition of a diversified portfolio of five industrial energy-related services businesses - RWE Solutions Group - from German energy provider RWE.

Headquartered in Langen, Germany, SAG is one of Europe’s largest energy infrastructure services companies and the German market leader. Employing 5,900 staff, the company provides build and maintenance outsourcing services to utility transmission and distribution grids.

Since its investment, Advent has worked closely with SAG’s management to streamline the business and reduce the complexity of its previously conglomerate-like structure. A focus on core infrastructure services has improved SAG’s profitability, with current revenues approximately EUR 770 million.

As a result, SAG today operates from a strong platform and is in an excellent position to benefit from the anticipated growth of energy-related infrastructure services in Western and Central & Eastern Europe. The most significant opportunities lie in the field of infrastructure refurbishments and services in the renewable energies sector. SAG is also set to benefit from the liberalisation and privatisation of the Eastern European energy sector as well as continued market growth in Western Europe (i.e. Germany and France).

Ralf Huep, Managing Director at Advent International in Frankfurt, commented: “SAG exemplifies a classic Advent International investment where we were able to create significant value through strategic restructuring. Working closely with SAG’s highly experienced management team, Advent was able to refocus the business on its key strengths enabling the company to establish a leading position in Europe. The company is now ideally positioned to capitalise on market growth. We wish the management and the employees the very best for the next phase of SAG’s development.”

Michael Stadler, CEO of SAG, highlighted: “Since Advent’s acquisition, our company has gone through an impressive streamlining process by focusing on our core competencies and improving profitability. These initiatives have resulted in higher margins and given SAG an excellent platform for future growth. We thank Advent for all its support during what has been an extremely important phase in our development. We now very much look forward to the next stage of our expansion and leveraging the significant growth potential offered by the European market.”

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Ralf Huep

General Manager, Germany

T: +49 (0) 69 955 2700
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