Orrick and Dedak & Partners have advised a consortium of international private equity firms including Bessemer Venture Partners, Columbia Capital, HarbourVest Partners, Innova Capital, MC Partners, and Oak Investment Partners, in the sale of Slovakian telecommunications provider Benestra to leading private equity house Sandberg Capital. The Slovak Relevans law firm advised Sandberg on the transaction, which remains subject to regulatory approvals.
Benestra is a leading provider of telecommunications services in Slovakia. In 2015, it generated revenues of EUR 46.4 million and EBITDA amounted to EUR 16.3 million. Benestra’s service portfolio includes voice and data communication solutions, internet connectivity solutions, data centers, and hosting services on both physical and virtual cloud platforms.
"We are pleased to announce this transaction which concludes our successful investment in GTS Central Europe,” announced Magdalena Magnuszewska, Partner of Innova Capital. “I am convinced that under a new and strong owner Benestra will continue to be a leading company in the Slovak telecommunications market.”
"This acquisition is our first step into the Slovak telecommunications market, which is currently in the process of consolidation, and in which we would like to actively participate,” said Michal Rybovic, investment manager at Sandberg Capital. "Benestra with its strengths in the market and stable cash flow forms the ideal platform for further growth."
The London-based Orrick team was led by Partner Shawn Atkinson, who has been advising members of the consortium of investors since they first acquired the assets of telecommunications service provider GTS Central Europe in 2007. Atkinson also advised the consortium of investors on the 2014 sale of GTS to Deutsche Telekom for EUR 546 million. That sale excluded GTS Slovakia, which was retained by the investors and renamed Benestra.
In addition to Atkinson, the team included Emma Raleigh, Katrina Murphy, Amy Roper, Alice Taylor, David Griffiths, Rosalind Seeley, and Jackie Harper.
The Dedak & Partners team consisted of Partner Eduard Winkler and Junior Lawyer Martin Tedla.
The Relevans team advising Sandberg consisted of Partner Marian Masarik and Associate Andrea Kovacikova.
- Dentons Advises Tatra Banka on Refinancing of Eurovea Complex in Bratislava
- Goltsblat BLP Boosts Asia Practice with Appointment of Partner Sergey Milanov
- SSW and Weil Advise on Innova Capital Investment in Netsprint and LeadR
- Orrick and Baker Botts Advise on USD 1.1 Billion Financing for Russian Energy Group
- WKB and Dentons Provide Polish Advise on Naspers’ Investment in Brainly