NautaDutilh assisted Zenitel N.V. (EURONEXT Brussels: ZENT), a leading player in integrated security communications, with the sale of 100% percent of the shares in Zenitel Caribbean B.V. with the Curacao Growth Fund, the first private equity fund in Curacao.
Located on the Caribbean islands with the main seat in Willemstad, Curacao, Zenitel Caribbean owns and operates the Public Safety Network in Curacao, Aruba, St. Martin and the BES Islands (Bonaire, Eustatia & Saba). The company is a network operator and sells airtime on its own network. In addition, it sells Vingtor-Stentofon products and acts as a system integrator. In 2014 the company had an annual turnover of EUR 4.6 million and a recurring EBITDA of EUR 1.3 million. At the current exchange rate ANG/EUR, CGF pays approximately 5.1 times the 2014 EBITDA in cash.
The transaction is in line with Zenitel’s strategy to divest its remaining network operations and to focus on the further profitable growth of its Vingtor-Stentofon core business.
The NautaDutilh team consisted of Elke Janssens (M&A Brussels office), Ruud Smits and Rebecca Pinto (both Corporate M&A New York office).