WARSAW, Poland, November 6, 2018 /PRNewswire/ --
Abris Capital Partners, the leading mid-market private equity fund manager for Central and Eastern Europe, has sold 100% of its shares in its Serbian portfolio company, Kopernikus Technology, to Telekom Serbia. The transaction was signed on 1st November, 2018.
Abris CEE Mid-Market Fund III acquired a majority stake in Kopernikus Technology at the end of 2016. Since then, the company has invested heavily in expansion and service quality. Prior to the sale to Telekom Serbia, Kopernikus Technology was the leading consolidator of Serbia's cable sector, having acquired and successfully integrated 20+ smaller cable TV service providers.
Milorad Anđelić from Abris Capital Partners:
"In a collaborative effort with our co-shareholder Srdan Milovanovic, we strengthened the existing management team and actively supported management with financial and corporate governance expertise. We put a strong focus on implementing our strategy of investing in fiber-optic infrastructure and digitization, to be able to provide our customers with the most attractive content offering, and the highest quality service in the market. In less than two years from our investment, Kopernikus grew its subscriber base by more than 25% through a combination of organic growth and acquisitions. We are delighted that a Company of the size and reputation of Telekom Serbia has recognized the value of Kopernikus Technology," sums up Milorad Anđelić, Partner at Abris Capital Partners.
Predrag Ćulibrk, CEO of Telekom Serbia, comments:
"Telekom Serbia is the leading telecommunications services provider in the region, and Kopernikus is the second largest cable TV and broadband services provider in Serbia, with a high-quality cable network and fiber-optic infrastructure - an asset we value highly. This acquisition will allow us to widen our customer base and expand our geographic footprint in one of our core markets, where we are the key consolidator."
Srdjan Milovanović from Kopernikus Technology, also comments:
"Together with Abris Capital Partners we were able to consolidate Kopernikus Technology's #2 position in the market, by continuously investing in our network and the quality of our services. I am happy to see that our mutual value added attracted a buyer of the caliber and reputation of Telekom Serbia. I am confident that they will continue to develop the Company and the quality of its services to the satisfaction of its existing and future clients."
SOURCE Abris Capital Partners