NBOs in for Hub One
Non-binding offers (NBOs) for Aeroports de Paris (AdP) [EPA: ADP]’s IT and telco division Hub One are in, TMT Finance understands.
According to two sources, sellside adviser Barber Hauler has drawn a shortlist of bidders, with private equity firms HIG Capital and Hivest, communications infrastructure business Boldyn Networks (BAI Communications) and Canada Pension Plan Investment Board (CPPIB) admitted to the second round of bids. Offers were under E100m (US$106.8m), two sources said.
One source said NBOs were submitted around the week commencing October 9, 2023.
Binding offers are now due next week, a separate source said.
TMT Finance reported in September 2023 that information memoranda for Hub One had been distributed on the week commencing September 18, 2023, with sources previously putting Hub One’s EBITDA at E25m and revenues at E161m.
Parent company AdP posted revenues of E4.69bn in 2022 and an EBITDA of E1.7bn, with net financial debt of E7.44bn and a net financial debt/EBITDA ratio of 4.4 times.
Hub One offers services spanning 4G and 5G as well as Wi-Fi connectivity, cybersecurity, and internet of things, and has customers within the transportation as well as the public sector. The company also runs network audits for its clients, and provides advisory services for optimisation.
CPPIB declined to comment. AdP, Hub One, Barber Hauler, HIG, Hivest and BAI Communications did not respond to requests for comment.
