Amsterdam/Munich/Antwerp, March 9, 2023 Equistone Partners Europe (“Equistone”), one of Europe’s leading midmarket private equity investors, is selling its majority stake in Amadys, a leading system integrator of endtoend connectivity solutions for the telecom, infrastructure and energy markets, to ETC Group (“ETC”). ETC is a global provider to the telecom network and technology infrastructure industry based in France and is majority owned by funds advised by Cinven, the international private equity firm, with significant minority stakes held by Carlyle and its founder, Cédric Varasteh. Amadys’ management team will reinvest in the combined group. The transaction is a significant step in creating a global, industryleading multibilliondollar provider to the telecom sector. Financial terms of the deal were not disclosed.

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