Central and Eastern Europe-focused mid-market buyout firm Abris Capital Partners has acquired a majority stake in Serbian cable broadband provider Kopernikus Technology. As per the terms of the deal, Abris has agreed to partner with Kopernikus founders Srdan and Zvezdan Milovanovic to grow the company. Abris tapped its Abris Capital Partners Fund III for equity in the deal.
Founded in 1998, Beograd-based Kopernikus is a provider of cable TV and broadband services. In recent years Kopernikus has styled itself as the leading consolidator of Serbia’s cable sector, having acquired and successfully integrated more than 20 smaller cable service providers.
According to the most recent statistical report from the Republic Agency for Electronic Communications (RATEL), Kopernikus ranked as Serbia’s fourth-largest ISP by subscribers in 3Q16, with a 3% market share, placing it behind the likes of Telekom Srbija (MTS), Serbia Broadband (SBB) and IKOM. The last named was itself subject to a takeover offer from SBB in September 2016.