The sale has generated a return of approximately 2.2x for
John Arney, Managing Director of Candover, said: “In just under two years, GET has been transformed into a thriving independent business operating under a new but already highly regarded brand and offering market leading services and content to the Norwegian consumer. This has resulted from the herculean efforts of the management team, led by Gunnar Evensen, and from significant new investment in the digital upgrade of the network and the equipment installed in customers’ homes. We have every confidence that, with the support of its new shareholders, GET will continue to grow strongly under Gunnar Evensen’s leadership and consequently, we have retained partial ownership of the business. We wish the management and employees every success as GET continues its journey as the pre-eminent triple play provider in Norway.”
Quadrangle, the private equity arm US investments firms Quadrangle, specialises in media and communications investments, with a track record that includes Grupo
Corporativo Ono, S.A., Cequel Communications, Bresnan Communications, and Cablevision Systems.
Gordon Holmes, managing principal of Quadrangle, said: “Quadrangle and our consortium partner, GS Capital Partners, are very excited about working with Get’s outstanding management team to further accelerate the development of the company and build on the foundation that has been laid in the attractive and growing Norwegian TV and communications market. Quadrangle and GS Capital Partners have significant experience in the international cable industry and look forward to supporting the company in the next phase of its development.”