Funds advised by HIG European Capital Partners LLP have acquired AIRCOM International Group – the world’s largest independent provider of network planning and optimisation services to the mobile telecoms industry – from Advent International.
AIRCOM estimates that every day, the 20 top global operators depend upon its tools and consultants to improve network coverage and service quality for more than 1.1 billion subscribers worldwide.
Founded in 1995, AIRCOM is headquartered in the UK, and employs over 900 professionals spread across 14 offices worldwide servicing customers in 135 countries. Today’s mobile market is undergoing a dramatic transformation, driven by the growth in data-hungry devices such as smart-phones and iPads, which consume vastly more bandwidth. AIRCOM’s business is built around helping the mobile industry to cope with these data challenges. It partners with market leading companies including Hewlett Packard and Nokia Siemens as well as working directly with blue chip telecom operators such as Vodafone and O2. It is forecast to deliver over GBP90m in revenues in its current financial year to June 2011.
Paul Canning, Managing Director, HIG. Europe, says: “AIRCOM is already a leader in its market, and has ambitious plans to grow and provide a real end-to-end suite of solutions for the mobile telecoms industry. We look forward to supporting the management and we believe that we can bring added firepower and support for their ambitious growth plans.”
Under the leadership of Chief Executive Darryl Edwards, who joined the business in October 2009, the company has taken advantage of the rapid growth in mobile traffic. Edwards says: “AIRCOM is incredibly well-placed to grow with our clients – more and more of whom are turning to us to help them get the most out of their networks. With HIG’s support, we can ensure our products and services remain at the cutting edge of the industry.”
Barclays and HSBC have provided a joint debt package to support the Group going forward.
The AIRCOM investment marks HIG Europe’s eighth new deal investment in the last 12 months. With a full pipeline of activity, HIG expects to make further deal announcements in the coming months.
