Sector: TMT
Country: Germany
Fund: EQT IV
Entry: Dec 2006
Exit: Dec 2011

Fund: EQT V
Entry: Dec 2006
Exit: Dec 2012

EQT acquired Kabel BW in 2006 from private equity group Blackstone

With EQT’s support, Kabel BW invested over EUR 600 million in Capex and established one of the most modern networks in Europe. This not only enabled the company to provide internet transfer speeds of up to 100 MBits/s but also to introduce attractive new products. The number of broadband internet and telephone clients (“CleverKabel”) increased by more 177% during EQT’s ownership. Further investment-based contributions to Kabel BW’s future growth included a growing number of rented HD receivers and recorders, the company’s own pay-TV offer “MeinTV”, as well as a partnership with Sky and video on demand services offering around 1,000 blockbusters and film classics, partly in HD. Mobile voice services in addition to mobile data transmission was also introduced during  EQT’s ownership.,

In March 2011, EQT IV and V sold KBW to Liberty Global, Inc. for en Enterprise Value of EUR 3.16 billion.

Key events during EQT's ownership