Pemberton, a diversified asset manager backed by Legal & General, has provided a second round of financing to supports The Carlyle Group’s acquisition of Euro Techno Com Group (ETC), a distributor of passive and active telecom equipment and supplies in Europe and the United States.
Financial details have not been disclosed. The transaction is subject to regulatory checks and is expected to close in the second half of this year
Founded in 1993 by Cedric Varasteh, the ETC Group is headquartered in Eaubonne (Ile-de-France), France and has operations in France, the United States, Portugal and Israel. The company’s offering covers product design, procurement and supply chain, including logistics for cable and telecom operators and network installers. Its model enables telecom customers to maximise operations efficiency and lower their deployment costs – a critical aspect of their operations as the operators will ramp up fibre deployment. Customers include major American and European cable and telecom operators, as well as large and small independent installers and sub-contractors.
Guillaume Farges, Director of Origination for France and Benelux at Pemberton, says: “We are pleased to be providing a sizeable investment to support The Carlyle Group’s acquisition of ETC Group, our second investment with Carlyle this year. ETC is on an impressive growth journey and unitranche is the perfect instrument to help accelerate this further.”
