Melita plc being sold to Apax and Fortino Capital

London, Paris, Dec 7th 2015
GMT Communications Partners (“GMT”) and M/C Partners-led consortium have agreed to sell Melita plc (“Melita”) to France-based Apax Partners and Fortino Capital. Closing is subject to regulatory approval.
Melita is the leading converged telecommunications operator in Malta, with 99% of Malta’s households and dwellings passed and more than 110,000 unique subscribers. It offers pay-TV, broadband, fixed telephony, mobile and B2B services to customers.

GMT originally invested in Melita in 2007, and was a shareholder alongside M/C Partners, Gasan Group and Blackrock. Since the acquisition, Melita has become the leading quadruple play provider in Malta, expanding its product offering from Pay-TV-led to a quadruple-play offering, servicing both residential and business customers, with the launch in February 2009 of its 3G mobile offering. Melita also owns and operates its own mobile network, an undersea submarine optical fibre cable, a co-location data centre built to Tier 3 specifications, as well as a next-generation Wi-Fi service across the Maltese islands.

With the support of its new shareholders, Melita will continue its growth in both B2C and B2B businesses by leveraging its converged network.

Joseph Gasan, Chairman of Melita, said: “I am delighted that Melita, which I created 23 years ago, is now in a position, after a period of growth and transformation, to start a new phase under new ownership”

Massimo Prelz Oltramonti, Senior Advisor at GMT, said, “We are happy to transfer ownership of Melita to a group of investors of standing and with significant telecom expertise. Under the current group ownership, Melita has evolved from being an advanced cable operator to become one of the most advanced quad players in Europe, and an undisputed leader in its market in broadband and entertainment. The growth of Melita is reflected in an increase in EBITDA from €16 million when we invested to EBITDA in excess of €31 million in 2015.”

Thomas de Villeneuve, Partner at Apax Partners, said, “We are delighted to support Melita in its ambitious growth strategy and to join forces with Fortino for this adventure. We look forward to bringing our expertise and longstanding experience in the media and telecom sector”.

Duco Sickinghe, Managing Partner at Fortino Capital, said, “At Fortino, we are delighted to work with the team of Melita to propel their great vision of broadband, media and mobile into the future. We are convinced that in working with a great investment firm like Apax, Melita will be able to make a difference for their current and future customers. We look forward to also cooperating with other Maltese stakeholders such as the government, media and local businesses”.

Messier Maris & Associés advised Apax Partners and Fortino Capital on the transaction. Weil and CSB Advocates provided legal advice.

Lazard advised the sellers of Melita on the transaction. Shearman & Sterling and Camilleri Preziosi provided legal advice.

About Apax Partners

Apax Partners is a leading private equity firm in French-speaking European countries. With more than 40 years of experience, Apax Partners provides long-term equity financing to build and strengthen world-class companies. Funds managed and advised by Apax Partners exceed €2.4 billion. These funds invest in fast-growing middle-market companies across four sectors of specialisation. Current portfolio companies include:

• TMT: Altran, Gfi Informatique, Infopro Digital and Vocalcom
• Retail & Consumer: ALAIN AFFLELOU, Europe Snacks, Groupe Royer and THOM Europe (Histoire d’Or, Marc Orian and TrésOr)
• Healthcare: Amplitude Surgical, Capio and Unilabs
• Business & Financial Services: Groupe INSEEC, SK FireSafety and TEXA.

For more information, please visit www.apax.fr or our social networks.

About Fortino Capital

Fortino Capital is a Brussels-based investment company, co-founded by Duco Sickinghe, Renaat Berckmoes and Baudouin Jolly, which focuses on private equity and venture capital. Combining strong management backgrounds, extensive global networks and leading success in innovation, Fortino Capital supports the management of its portfolio companies from a strategic, operational and commercial perspective.

For more information, please visit www.fortino.be or our social networks.

About GMT Communications Partners

GMT is an established private equity group dedicated to providing buyout and development capital to European mid-market businesses that are creating, delivering and/or monetising the digital economy.  With a track record spanning over 20 years, GMT has managed three funds with aggregate capital commitments in excess of €775 million and has completed over 100 transactions across 19 countries during this time.

For more information, please visit www.gmtpartners.com

About M/C Partners

M/C Partners is a private equity firm focused exclusively on the communications, media, and information technology sectors. The firm has invested over $1.5 billion into nearly 100 companies in those sectors. Companies M/C has backed include Cavalier Telephone, Fusepoint, GTS Central Europe, ICG Communications, Involta, Legendary Pictures, Lightower, MetroPCS, NuVox, Open Mobile, and Zayo Group. The firm has strong institutional backing from the nation’s leading pension funds and endowments as well as a long track record of success. M/C Partners has offices in Boston and San Francisco.

For more information, please visit www.mcpartners.com.