Advent & Providence sell MACH to Warburg Pincus

Advent International and Providence Equity Partners have sold their investment in MACH to Warburg Pincus in a secondary buyout. Terms were not disclosed and the deal is subject to regulatory approvals.

Advent International and Providence Equity Partners acquired Multinational Automated Clearing House (MACH) from MIC Systems BV, a subsidiary of Millicom International Cellular SA and from Kinnevik BV in November 2002 for E100m. As part of the acquisition, additional management, including Juergen Appel, Agner Mark and Matthias Frost were bought into the company.

MACH provides advanced inter-operator solutions within the telecommunications and data industry worldwide assisting clients to develop and secure existing and new revenue streams. The company focuses on clearing and billing services within roaming, Interconnect, EDI and WLAN as well as value added services, including business intelligence, revenue assurance, fraud detection, re-pricing, and MMS Interworking.

Warburg Pincus was advised by UBS (M&A), Freshfields (legal) and PricewaterhouseCoopers (accounting and financial structure.) Advent International and Providence were advised by Goldman Sachs (M&A), Lovells (legal) and KPMG (accounting and financial.)