Apax Partners to sell a majority shareholding in Marlink to Providence Equity Partners

London and Paris, September 13, 2021 -  Apax Partners SAS ("Apax"), the leading European private equity firm based in Paris, announces that it has sold a majority stake in Marlink (the "Company") to Providence Equity Partners ("Providence"), a leading private equity firm specializing in media, communications, education, software and services. The transaction values the Marlink Group at $1.4 billion. No further information on the terms of the transaction is disclosed.

• The transaction values Marlink at $1.4 billion.
• Marlink's management team is significantly reinvesting in the transaction.
• Ardian is also taking an equity stake.
• The objective: to accelerate Marlink's growth in the face of increasing broadband demand and the accelerating digitalization of its customers.

Convinced of the group's growth prospects, Apax retains a significant minority stake in Marlink. Ardian and Marlink's management team are also investing alongside Apax and Providence.

Based in Paris and Oslo, Marlink is the leading independent provider of communications services and solutions in the most remote areas of the world. The group serves the largest companies in the maritime and land-based sectors.

"Marlink offers a comprehensive set of smart grid solutions, combining terrestrial and satellite connectivity, computing, cloud, cybersecurity and IoT managed services," said Karim Tabet, President and CEO of Providence. "We are thrilled to partner with such an outstanding company as Marlink. Along with Apax and Ardian, we look forward to supporting Erik Ceuppens and his team. As a leader in its market, Marlink wants to capitalize on the growing demand for digital solutions and broadband connectivity."

Michael Vervisch, Managing Director of Providence, added: "We have been impressed with Marlink's transformation into a leading broadband provider, able to operate its own network and generate economies of scale to become a leader within its industry. By offering digital solutions with real added value, among other things, we will be able to create real growth opportunities in the future."

Bertrand Pivin, Partner at Apax, said: "Apax first invested in Marlink 15 years ago. Under the leadership of Erik Ceuppens, the company has completely transformed its value proposition, tripling its revenues and increasing its EBITDA by a factor of 10. It has become the world's leading operator of satellite services, first in the maritime sector and more recently in the enterprise sector with the acquisition of ITC Global. The 10,000 broadband terminals installed around the world are a true lever for the design and delivery of critical digital services sought by Marlink's direct customers in their strategic operations. We are convinced that Providence is a partner of choice to lead the next steps in the group's development and are happy to continue the adventure with them."

Erik Ceuppens, CEO of Marlink, said: "This major transaction demonstrates the confidence of our investors in the strength of our company and its development potential. Through significant organic growth and several targeted strategic acquisitions, Marlink has established itself as a leader in B2B satellite communication solutions. In line with its Smart Network strategy, Marlink is working hard to rapidly digitize its customers' remote operations and support their sustainability. We are delighted to partner with leading private equity investors Providence and Ardian as our new majority shareholders, and to have the full support of our first ever investor Apax. With their support, our management team and our employees, we have all the keys in hand to take Marlink to the next level."

Alexandre Motte, Head of Ardian Co-Investment, said: "Whether it is the company's unique positioning in the B2B satellite communications industry or the various achievements of Erik and his team, we have been particularly impressed with Marlink. With new opportunities for growth - including significant acquisitions - and the increasing need for services and connectivity, we are excited to be a part of writing this new chapter in Marlink's development. Many thanks to Marlink, Providence and Apax for their confidence. We look forward to contributing to this collaboration!"

Subject to customary and regulatory approvals, the transaction is expected to close in the first half of 2022.