Entrepreneur
Erik Ceuppens
CEO
Profile

Marlink is the largest technology-independent satellite communication and digital solutions provider.

The company has 27 international offices around the world and works in close partnership with the largest distribution network of service providers in the industry.

Online

$0m
Revenue
Sector: Services Investment date: 2016 Apax position: Majority
Why did we invest?

Marlink encompasses the commercial division of Vizada, a former portfolio company of Apax Partners sold to Airbus Group in 2011. The company mainly operates in the maritime business sector, where it is a global leader, but it also offers terrestrial solutions. Marlink is well positioned to capture market growth through an exhaustive product portfolio, a global distribution network, and a large and diversified customer base.

How do we intend to create value?

Our investment thesis is based on several drivers of value creation: (i) accelerating VSAT delivery; (ii) developing value-added services beyond connectivity to increase ARPU (Average Revenue Per User) and customer retention; (iii) focusing on Land core verticals (onshore Oil & Gas, Mining, Media and Humanitarian); (iv) driving profitability through operational efficiencies and the outsourcing of installation and maintenance activities; and (v) consolidating a highly fragmented industry.

2016

Marlink’s revenue for 2016 were $450m, up 25% mainly due the acquisition of Telemar in November 2016. The company reinforced its relationship with key supplier Inmarsat. This agreement allows Marlink to pursue its technology agnostic strategy and to offer a wide range of solutions including its own VSAT services based on capacity provided by other satellite network operators.

  • Marlink is a global leader with a worldwide footprint and focuses on expanding its presence in those areas with some national sub-markets holding the greatest potential like Asia and Southern Europe.
  • In early 2017, the company reinforced its presence in Greece and Cyprus through the set-up of a joint venture with TNL Group, the satellite connectivity business of Greece and Cyprus based.
  • Six months after closing of the transaction, Marlink completed the acquisition of Telemar, providing 25% additional revenue.
  • Early 2017, the company also signed the acquisition of Palantir, a norwegian company providing the maritime sector with state of the art IT&C solutions and services.
  • Migration towards broadband VSAT solutions enables “Digital Vessel” operations. Connected equipment and sensors, data analytics, remote monitoring and diagnosis are being adopted by maritime companies to reduce their operating costs (fuel, maintenance, staff on board…). This trend offers promising opportunities for Marlink to enhance customer stickiness and cross-sell value-added services beyond connectivity.
  • Marlink also recently signed the acquisition of Palantir, a big data analysis company, supporting its strategy to offer additional services beyond connectivity.