UK’s Star Capital buys sixth-largest German cableco

UK-based investor Star Capital Partners has bought Germany’s sixth largest cable network operator Pepcom from private equity investors GMT Communications Partners and Veronis Suhler Stevenson (VSS) for an undisclosed sum, reports Telecompaper. Pepcom has more than 630,000 subscribers of pay-TV, broadband internet and voice telephony services. GMT and VSS jointly held an 81% stake in the cableco with 19% owned by the company’s senior management and individual shareholders. Pepcom built up its cable footprint via the acquisition of twelve regional networks under the ownership of GMT and VSS, including the 2005 purchase of Bavarian operator Kabelfernsehen Munchen ServiCenter (KMS), which more than doubled its customers.