March 5 (SeeNews) - UK-based investment firm BC Partners said it has completed the acquisition of majority ownership of United Group, a leading media and communications services provider across Southeast Europe, from US-based investment group KKR.
BC Partners has received all necessary regulatory approvals for the transaction, after which KKR and United Group’s management team will keep a substantial minority stake, the investment firm said in a statement on Monday.
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No financial details of the deal were disclosed.
"United Group is a high-quality asset, with defensive growth characteristics, leading infrastructure, differentiated content and a growing base of loyal customers. Its attractive and integrated business model and regional leadership position provide an excellent platform for further organic growth and strategic acquisitions across Europe," Nikos Stathopoulos, partner at BC Partners, said.
Founded in Serbia, and headquartered in Amsterdam, United Group has expanded its presence through both organic growth and acquisitions, now employing over 4,400 staff and providing services to over 1.8 million homes. United Group operates in Bosnia, Croatia, North Macedonia, Montenegro, Serbia and Slovenia through brands such as SBB, Telemach and United Media, and channels such as SportKlub, Nova TV and N1TV, plus a global OTT service.
"We will remain closely committed to the further development of United Group and are looking forward to working with BC Partners and the management team to further strengthen the company’s growth," Jean-Pierre Saad, managing director at KKR, said.