MVC Capital, one of the investors behind Centile, a leading European developer of unified communications and fixed-mobile convergence platforms for operators and integrators have announced a deal to sell their stake in the business to VOIP Holdings GmbH, owned by Waterland Private Equity who also own Swyx. For MVC, their share of the companies was sold for approximately $7.5 million , a 2X multiple on MVC initial investment and a gross IRR of 11% over the life of the investment. The rest of the company remains under ownership of other shareholders.
Centile have a strong position in the Cloud Comms market with over 100 service providers using their platform, especially focused in France but have geographic reach across Europe.
Cavell highlighted earlier this year that after Waterland had acquired Swyx that they would continue to make investments in the Cloud Comms space and this acquisition shows their intent to make a pan-European Cloud Comms provider a reality. Cavell knows that they are looking to make further purchases and expects that more news will follow on this later this year.
EDITED: This post initially said that Centile was sold for a total of $7.5m when this only reflected MVC’s share of the company, not the full purchase price. This post has been updated to show this.