Funds advised by Apax Partners agree to sell Orange Switzerland to

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Funds advised by Apax Partners agree to sell Orange Switzerland to NJJ Capital
18 December 2014
London, UK - Funds advised by Apax Partners (“Apax”) today announced that they have agreed to sell
Orange Communications SA (“Orange Switzerland”) to NJJ Capital, Xavier Niel’s private holding company,
for a total transaction value of CHF 2.8 billion (€2.3 billion).The transaction is subject to customary regulatory
approval and expected to complete by the end of Q1 2015.
Orange Switzerland is one of the leading mobile operators in Switzerland. The announced sale is expected
to generate strong returns for the Apax Funds. Under the Apax Funds’ ownership since 2012, Orange
Switzerland has carried out a number of initiatives that have transformed the company into a more efficient
and future-proof business while driving EBITDA growth. Of note, over the last three years, it has successfully
modernised its IT systems, launched its 4G commercial services, now reaching over 90 per cent of the Swiss
population, and expanded its store network with 8 store openings in 2014, including a flagship store in
Gabriele Cipparrone, Partner at Apax Partners, commented:
“Orange Switzerland has been a major and very successful investment for the Apax Funds. We are proud to
have been an important part of the company’s development in the last three years, supporting Johan and his
team in their successful drive to modernise the company. We have no doubt that NJJ Capital is the right new
partner for the company as they embark on the next stage of the company’s journey and continue as a major
challenger in the Swiss mobile market.”
Johan Andsjo, CEO of Orange Switzerland, commented:
“We would like to thank Apax for their support since 2012. They have been really instrumental in leading the
company’s modernisation efforts and its organisational transformation. The strategy is already generating
significant benefits for the company and all of our customers. Of course, none of these achievements would
have been possible without the support of each and every employee in the past three years, who we would
also like to thank. We now look forward to making further advances under NJJ Capital’s ownership. ”
Xavier Niel, Founder and CEO of NJJ Capital, added:
“Since 2012, when Orange Switzerland was acquired by the Apax Funds, my team and I have followed very
closely all the developments at the company. We have witnessed the successful transformation at Orange
Switzerland under Apax’s leadership. As the new owner of Orange Switzerland, NJJ Capital will provide
continuity to Orange Switzerland’s customers, employees and management. NJJ Capital is a long-term
strategic investor, owned and operated by telecom professionals with proven track record whose goal will be
to share and exchange best practices with Orange Switzerland management. Finally, my utmost priority will
be to operate Orange Switzerland in the future in accordance with the Swiss environment and customs
always in mind.”
Advisers to Apax included Credit Suisse (M&A), Simpson Thacher & Bartlett LLP (Legal), Bär & Karrer Ltd.
(Legal) and PwC (Accounting).
Advisers to NJJ Capital included Lazard (M&A), BNP Paribas (M&A), Niederer Kraft & Frey (Legal),
Shearman & Sterling (Legal), MNKS (Legal) and KPMG (Accounting).
About Apax Partners
Apax is one of the world's leading private equity firms. It operates globally and has more than 30 years of
investing experience. Apax has advised funds that have invested over €30 billion around the world in
aggregate. Funds advised by Apax invest in companies across four global sectors of Consumer, Healthcare,
Services and Technology & Telecommunications. These funds provide long-term equity financing to build
and strengthen world-class companies. In the Technology & Telecommunications sector, funds advised by
Apax have a successful track record, having invested more than €5.8 billion in buyouts with recent
investments including GlobalLogic, Paradigm, Epicor Software Corporation and iGATE. For further
information about Apax, please visit
About Orange Switzerland
Orange Communications SA (“Orange Switzerland” or “Orange”) is the challenger in the Swiss mobile
market. Orange stands for exceptional service and says ‘You bet you can’ to its customers as often as we
can. Only Orange permanently offers its 2,141 million customers the fastest internet connection, including
4G+ with up to 300 Mbit/s, at no extra cost. The Orange mobile network is ‘VERY GOOD’ and according to
Connect magazine (January 2015 review), Orange offers the best mobile network and the best connection
speed on board trains. Only with Orange Me, customers are able to adapt their subscription according to
their needs. Only Orange offers its business customers a personal adviser together with efficiencyenhancing integrated mobile and fixed line network solutions. Orange has 871 employees (FTE) and is
present with 87 Orange Centers and with more than 2700 outlets across Switzerland.
About NJJ Capital
NJJ Capital is Xavier Niel's private holding company, incorporated in France. NJJ Capital holds various
stakes in a broad range of companies in Europe and the USA.
Apax Partners - UK and Europe Media Enquiries:
Andrew Honnor, Georgiana Brunner, Matthieu Roussellier
Greenbrook Communications
Tel: +44 20 7952 2000
Email: [email protected]
Apax Partners - US and LatAM Media Enquiries:
Todd Fogarty
Kekst and Company
Tel: +1 212 521 4854
Email: [email protected]
Orange Switzerland
Therese Wenger
Tel: +41 78 787 10 16
Email: [email protected]

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