3i divests 30% stake in Nordic TV company

The UK-based private equity fund is selling its stake in Boxer TV-Access AB to Teracom, a media company owned by the government of Sweden.

3i will divest its 30 percent stake in Boxer TV-Access AB, a digital pay television operator, to Sweden-owned Teracom for an undisclosed amount.

The UK mid-market private equity firm invested in the Stockholm-based business in 2005. The company was expanding amid Sweden’s switch from an analogue to digital network, which completed at the end of 2007.

Boxer now is expanding internationally, 3i said in a statement. Earlier this year, the company was given exclusive 12-year licenses to operate in Denmark’s and Ireland’s pay television markets.

3i, which focuses on growth capital, buyouts, infrastructure and quoted private equity, has invested in other media companies, including taking public digital advertiser Focus Media in China and UK-based Telecity, which provides data centres.

3i recently acquired Mémora Inversiones Funerarias, a division of Spanish conglomerate Accion, in a deal that valued the funeral services chain at €330 million.