Abris Capital Partners has acquired a majority stake in Kopernikus Technology, the #2 cable TV and broadband service provider in Serbia. Abris will partner with the founders, Srđan and Zvezdan Milovanović, to accelerate the company’s growth and to further expand its network. The transaction was closed on 22nd December, 2016.
Founded in 1998, Kopernikus initially distributed telecoms equipment before launching its own cable TV service. The Company has since established a leading position through consistent investment in technology, the build-out of its fibre optic network, and through the quality and breadth of its content for subscribers. Kopernikus is the leading consolidator of Serbia’s cable sector, having acquired and successfully integrated more than 20 smaller cable TV service providers. The Company has ambitious plans for further expansion of its fibre optic network and its CATV, broadband, OTT and fixed voice services, both organically and via acquisitions. With sophisticated technology and superior content, Kopernikus has a strong platform from which to expand its business.
Milorad Anđelić, Investment Director at Abris:
“The owners have done an exceptional job in transforming this family-owned business from a telecom equipment distributor into one of Serbia’s leading cable TV and broadband services providers. Drawing on our global network and expertise, Abris is able to further strengthen the existing strong management team and support them with financial and corporate governance expertise in order to help Kopernikus achieve its full growth potential.”
Srđan Milovanović, who will continue to serve as CEO:
“We are delighted to be in partnership with Abris Capital Partners. With their strong financial backing and business network, we will reinforce our financial position and add managerial talent to our already strong team, so that we can actively pursue the growth opportunities we see on the Serbian market.”
Abris Capital Partners is making the investment in Kopernikus Technology from its recently-launched Fund III. The Fund, targeted at mid-market businesses in the largest economies of Central & Eastern Europe, is aiming to raise €500m and has already attracted commitments to a first close from European and North American institutional investors. The fundraising process will extend into 2017 and Kopernikus will be the second transaction to be completed by the new Fund, following the November 2016 purchase of a Polish fish processing business, Graal S.A., in a P2P transaction from the Warsaw Stock Exchange. Other opportunities are currently under active review.
Advisors involved in the transaction:
Hardiman Telecom (Commercial/technical)