Buyout specialist Candover has sold the Norwegian cablenet GET for NOK5.8 billion (€745m) to a to a syndicate of investors led by Quadrangle Capital Partners and GS Capital Partners. Candover purchased the former UPC Norway in January 2006 from Liberty Global. In the space of two years it has more than doubled the original NOK 3.6 billion investment.
“In just under two years, GET has been transformed into a thriving independent business operating under a new but already highly regarded brand and offering market leading services and content to the Norwegian consumer,” said John Arney, managing director of Candover He paid tribute to the “Herculean efforts” of managing director Gunnar Evensen who led the network’s upgrade to digital broadcasting.
GET serves 370,000 homes in Oslo and much of Southern Norway with a triple play offer of television, telephony and broadband internet.