Valedo Partners Fund I AB (“Valedo”) and minority shareholders have signed an agreement to divest the leading European subtitling and dubbing company Broadcast Text Holding AB (“BTI”) to Carlyle.
Valedo, together with the management, acquired BTI in August 2008 from media company ProSiebenSat.1. During the past five years, BTI has successfully implemented a number of growth oriented initiatives including significant investments in dubbing studios and new IT systems, expansion into adjacent services and strengthening of sales force. Furthermore, BTI has completed three strategically important add-on acquisitions which have strengthened the service offering in dubbing and access services as well as broadened the geographical presence into Eastern Europe. Organic sales growth of 12% per annum together with the add-on acquisitions have increased sales from ~€17 million in 2008 to ~€45 million expected for 2013.
”I am proud of the development of BTI that management, together with the support from Valedo and the board of directors, have achieved over the last five years. Despite a challenging macroeconomic climate in the years 2008-2011, we have managed to expand significantly through growth oriented investments in our operations and three strategic add-on acquisitions. I am pleased to welcome Carlyle as new co-owner alongside management and look forward to the next phase of the company’s development.” says Björn Lifvergren, CEO of BTI.
The terms and conditions of the transaction are not disclosed.
|Media contacts for Valedo:
Hanna Gustafsson, Brunswick Group
+46 7091 66866
|Media contacts for BTI:
Björn Lifvergren, CEO
+46 8 458 00 60
Valedo is an independent Swedish private equity group investing in high-quality small/mid cap companies in the Nordic region. Valedo is focusing on companies with clear growth and development potential where Valedo can actively contribute to and accelerate the companies’ development. Being an active owner and contributing both capital and industrial experience, Valedo ensures that a company can achieve its full potential. www.valedopartners.com
Broadcast Text International (BTI) is one of Europe’s leading providers of subtitling, dubbing and access services throughout Europe. BTI operates 15 offices across Europe, serving a dozen international broadcasters and more than 50 local broadcasters, VOD/OTT providers, production companies and video distributors with dubbing, subtitling and access services in more than 30 languages. Founded in Sweden, 1998, BTI has a proven track record of growing into new markets with existing clients. www.broadcasttext.com
About The Carlyle Group:
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $180 billion of assets under management across 118 funds and 81 fund of funds vehicles as of June 30, 2013. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Global Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,400 people in 34 offices across six continents. www.carlyle.com