Allen & Overy advises Advent International on the sale of its stake in Circet
27 May 2021
Allen & Overy advised the investment fund Advent International in the context of the entering into exclusive negotiation with Intermediate Capital Group (ICG) for the sale of its majority stake in the Circet group, European leader in telecoms infrastructure services.
Since Advent’s investment in Circet in April 2018, the group has grown very significantly with revenues increasing from around EUR 775 million in 2017 to nearly EUR 2.2 billion in 2021, and employee numbers growing from 3.000 to over 10.600 during the same period.
With the support of Advent, Circet has pursued an ambitious growth strategy both in France and internationally, by expanding its presence in seven new countries during the last three years: Germany, Spain, the Netherlands, Belgium, Great Britain, Ireland and Morocco. This expansion has been supported by an organic and acquisitive growth strategy, with Circet successfully acquiring 10 companies with a leading position in their respective markets since 2018.
The Allen & Overy team was led in Paris by Corporate partner Romy Richter and counsel Jules Lecoeur, assisted by associates Timothé Drezet and Alexia Monne, with partner Guillaume Valois and counsel Charles del Valle on tax aspects, partner Florence Ninane on competition aspects, partner Thomas Roy on financing aspects and counsel Luc Lamblin on public law aspects.