Isle of Man
Manx Telecom is the primary fixed and mobile telecom operator on the Isle of Man.
Hg acquired Manx Telecom from Telefonica in the summer of 2010 and over the three-and-a-half-year ownership of Manx Telecom there was a significant transformation of the business. After initially building an experienced management team, subsequent initiatives have included driving accelerated revenue growth through a focus on offering high quality, attractively priced packages to customers, alongside a clear emphasis on improving cost control processes within the business.
In February 2014 an IPO was announced, leading to Manx Telecom being listed on the AIM, whereby Hg sold its entire holding representing an overall investment multiple of 2.1x original cost and a gross IRR of 26%.