In 2005, Warburg Pincus invested in Ziggo, one of the largest cable operators in The Netherlands, with a customer base of over 4 million households. Warburg Pincus partnered with management to consolidate three regional operators (Kabelcom/@Home, Casema and Multikabel) between 2005 and 2007, creating Ziggo. With Warburg Pincus’ partnership, EBITDA more than doubled to €900 million as a result of an aggressive investment and capital expenditure plan to upgrade Ziggo’s network from being initially a TV-focused network to a triple-play (internet, telephone, and video/TV) operator. Ziggo also benefitted from synergies from the consolidation of three independent regional cable operators and as of 2019 was one of the most recognizable telephone brands in The Netherlands. Following the successful IPO of Ziggo in 2012, Warburg Pincus exited its investment in 2013 through public market sales.
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