Paris, 27 April 2018 – Advent International, one of the largest and most experienced global private equity investors, today announced that it has completed the acquisition of Circet Groupe (“Circet”), France’s leading telecommunications network service provider from CM-CIC Investissement, its former major shareholder, Omnes Capital, the company’s founders and management team. Advent partnered with Circet’s management led by Philippe Lamazou in this transaction.

Circet is the leading outsourcing partner for network deployment and maintenance services for fixed and mobile telecommunications operators, local authorities, equipment vendors and key accounts in France. It provides its clients with full turnkey solutions, across the three main network infrastructures – copper, mobile and fibre. Uniquely, Circet is able to provide its clients with a broad spectrum of services, from network and architecture design services, through to roll-out, activation and maintenance solutions.

Since its inception, Circet has grown continuously, through both organic growth, capitalising on the favourable trends in the telecom services market, and through multiple strategic acquisitions. The company currently employs over 3,000 individuals across 70 sites in France. In 2017, Circet generated pro forma sales in excess of €750 million.

Michael Ogrinz, Managing Director at Advent International, said: “We are truly excited to partner with Philippe Lamazou and his team to continue the success of Circet, the undisputed French leader in the fast growing telecom services market. Secular growth in data consumption, extensive deployment of fibre networks, and the continued investments in mobile infrastructures, including 5G, make this an exciting growth investment opportunity for Advent.”

Hadrien de Bardies, Director at Advent International, added: “With our strong expertise in the telecoms sector and presence across Europe and beyond, we believe that Advent is the best possible partner for Circet as it enters the next stage of its growth. We have been impressed by Circet’s management team and look forward to supporting them in their ambition to consolidate the fragmented European telecom infrastructure maintenance and build market.”

Philippe Lamazou, CEO at Circet, added: “Strong client relationships have been the foundation for Circet’s success since it was established. Over the past years we have been able to broaden our spectrum of innovation and diversify our customer base both organically and through targeted French acquisitions. We are proud of the market leading position we have built in France with the help of CM-CIC Investissement and I am confident that with Advent’s support, Circet will be even better placed to support our customers in their broader European plans through the provision of high quality services across many markets. Advent’s sector expertise and global presence will enable us to enter the next phase of our development from a position of great strength.”]

Frederic Plas, Directeur at CM-CIC Investissement, added: “Well done! Having the opportunity to finance, but not only finance, to really interact with Circet management and support the growth strategy defined by Philippe Lamazou’s tremendous vision of the Telecom infrastructure market has been a unique experience. Also a very demanding commitment for all our team. Thank you to all Circet people as well as our co-investors for their support.”