Omnes makes partial exit from telecoms construction group Circet
Omnes has made a partial exit from the French telecoms construction group Circet, through a sale to Advent International. Omnes initially invested in Circet in February 2017 and continues to support the number one French firm specialising in the construction and maintenance of telecommunications infrastructure.
Omnes generated an IRR of 103% in the deal, which marked the second successful exit for Omnes Croissance 4 fund this year. In February 2017, the Capcom exit generated a multiple of 2.6x and an IRR of 95%.
Circet was founded in 1993 and reported revenues in excess of €700 million in 2017. The company is delivering outstanding growth, driven by its expertise in mobile telecommunications, fixed networks and the opportunities afforded through France’s very high-speed internet plan. The group has led an active policy on acquisitions for several years and is currently looking to build up its model across Europe.
Philippe Lamazou, CEO of Circet, comments: “We appreciate the mark of renewed confidence that Omnes has shown in us and are delighted the team is accompanying us alongside Advent, as we continue this exciting journey with the prospect of new development opportunities.”
Eric Rey, Managing Partner, Omnes says: “Circet is entering a new growth phase with the backing of a powerful international shareholder. We are proud to continue to remain close to the management team working with the Group in its future challenges, including the very high-speed internet plan and international growth”.