Permira Backs Management in Teraco Buyout (Sub-Saharan Africa)

Source: Permira | Author(s): Simon Clark

International private equity firm Permira has agreed to acquire 100 percent of the equity in South Africa-based Teraco in partnership with the company’s management. The transaction was structured through Permira V. Established in 2008 after the deregulation of South Africa’s telecoms market, Teraco provides carrier-neutral datacenter services in Sub-Saharan Africa. Permira’s investment, the firm’s first in Africa, will support the Teraco’s growth plans, including the strengthening of its sales and marketing platform and its geographical expansion. Financial details of the transaction were not disclosed.