September 29, 2011
ICENTIS Corporate Solutions advised in the sale of Crowley Data Poland
On 29th September 2011, Crowley Data L.L.C. and Crowley Poland L.L.C. signed a conditional agreement with Netia S.A. regarding the purchase of 100% of the shares in Crowley Data Poland sp. z o.o., a leading alternative telecom operator focused on the business segment, for the consideration of approx. USD 32 million. The selling shareholders are controlled by George Crowley, an American entrepreneur who set up CDP in 2000. The acquisition of CDP is an important part of the consolidation of the Polish telecom market.
ICENTIS Corporate Solutions acted as the sole financial adviser to the selling shareholders. The transaction was carried out as a fully competitive process which attracted several bids at the initial and the final stages. The sale process was executed with strong final terms in a very tight timeframe of 91 days from the distribution of the information memorandum to the execution of SPA and under very volatile market conditions.
This transaction is an important stepping stone for ICENTIS’ M&A advisory business, and another landmark transaction in which ICENTIS’ team advised entrepreneurs in disposing off their business.