Charterhouse Capital Partners has agreed to buy into German correctional facilities technology services provider Telio from Deutsche Beteiligungs, seeing strong potential in the specialist market.
Founded in 1998, Telio helps correctional facilities in 21 markets provide telephone and video visitation services to inmate and families. The firm said the company can benefit from the high barriers to entry, strong revenue visibility and structural trends in the niche market. It also has multiple levers for growth in technology roll-out, in-cell transition, geographic expansion and introduction of new services.
DBAG said it would reinvest part of the proceeds from the deal to retain a minority stake. The buyout house made the investment in 2015 through its DBAG VI vehicle, which it closed on €700m in August 2012.
Charterhouse partner Carsten Hagenbucher said, “Telio is a deserved leader in its markets, providing proprietary services that form vital infrastructure for its clients. With its strong focus on safety, wellbeing and rehabilitation, Telio is well positioned to grow internationally and bring its services to new territories.”
AltAssets reported in March that Charterhouse was in the market eyeing up to €2.5bn for Fund XI, as it looked to profit from a mid-market space it sees as being vacated by many larger firms due to increasingly inflated fund sizes.
The firm picked up €2.3bn for Fund X in 2016, having targeted €3bn, and raised €4bn for its ninth flagship fund in 2009.
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Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/charterhouse-capital-to-acquire-german-prison-telephone-video-visit-service-provider-telio-from-deutsche-beteiligungs.html
