Intermediate Capital Group Acquires Circet

Paul Hastings advised Circet and its shareholders in connection with the sale of the company from Advent International to ICG Capital.

Advent International announced in May 2021 that it had entered into exclusive negotiations with ICG Capital for the sale of its stake in Circet, Europe’s leading telecom infrastructure services company. As part of the transaction, Circet’s founder and other managers will increase their stakes in the company.

Circet operates in the growing segment of investments geared towards fixed and mobile super-fast broadband network capacity. Present in Europe and North Africa, Circet’s customer base includes leading telecom operators, local authorities and companies specializing in rural deployment to bridge the digital divide. In 2020, Circet was present in 12 countries, generated total revenue of €2.03 billion, and employed over 10,000 people.

Paul Hastings’ team on this transaction was led by Olivier Deren (partner) and included Charlotte Dupont, Vincent Nacinovic, Lorraine Dorval and Amandine Guignard (associates).