Private equity firm SigmaBleyzer announced that the media and communications private equity firm Providence Equity Partners has invested $200m in its Ukrainian-based cable TV and internet access subsidiary Volia Cable.
This is a natural step forward for Volia Cable, SigmaBleyzer and Volia Cable’s other shareholders. SigmaBleyzer will continue to play an active role in the Ukrainian cable sector, and we look forward to Providence’s support as we continue to grow Volia Cable as the leading cable and broadband provider in Ukraine, said Michael Bleyzer, president and chief executive at SigmaBleyzer.
This is our seventh significant investment in this sector in Europe and our second in Eastern Europe, which is experiencing increasing demand for sophisticated television and broadband services, said Jonathan M Nelson, chief executive at Providence. We continue to believe that quality cable and broadcasting companies like Volia are critical service providers with significant opportunities for growth and value creation.
We have extensive holdings in cable businesses across Western Europe and are excited about the opportunity to marry that expertise with the great business that SigmaBleyzer and the Volia management teams have built, said John Hahn, managing director at Providence and head of the firm’s office in Europe.
The company claimed that it is the largest western private equity investment in Ukraine and the transaction is expected to close by the end of the year.
Source: ComputerWire daily updates