The Marlink Group has confirmed that an acquisition by Providence Equity Partners of a majority stake in the company from former private equity owners Apax Partners has been completed.
US-based Providence is a private equity investment firm focused on media, communications, education and technology companies across North America and Europe. Since its founding in 1989 it has invested over $31 billion across more than 170 private equity portfolio companies.
Providence’s investment in Marlink will be used to accelerate the satellite service provider’s growth strategy to meet increasing customer demand for connectivity, with a focus on digital services, the firm said.
Under the agreement terms, Apax will retain a significant minority shareholding in Marlink, while the current management team and private investment house Ardian have also committed to minority interests.
Marlink will remain headquartered in Paris and Oslo, with no other major changes in structure reported as part of the deal.