Carlyle said it would invest through Carlyle Europe Partners III (CEP III), a EUR5.4bn buyout fund focused on investment opportunities in Europe, and would own 70% of Sagemcom whilst management and employees would hold the remaining 30%.
Further financial terms of the transaction were not disclosed.
Sagemcom president Patrick Sevian said they are very excited at the prospect of partnering with Carlyle as they believe this will enable them to consolidate and strengthen the ambitions of Sagemcom, both through organic growth and acquisitions.
Benoit Colas, managing director at The Carlyle Group, said Carlyle’s deep telecom industry expertise and financial strength will be great resources for the future development of Sagemcom.
"We believe the team, led by Patrick Sevian, will be able to capture the tremendous growth opportunities ahead of us, notably in the broadband and energy markets," Colas added.
Sagemcom is a European manufacturer of high-end digital TV set-top boxes, high speed broadband residential terminals and advanced electricity meters, as well as various other telecommunications products.
Sagemcom has more than 6,000 employees worldwide, and posted sales of EUR1.4bn in 2010.
