Advent and Providence take sixfold return on Mach

Advent International and Providence Equity Partners are understood to have made six times their initial equity investment in Mach, a telecoms services group, following its €600m ($722m) sale to Warburg Pincus.

Goldman Sachs ran the auction which attracted interest from a number of private equity firms including Apax Partners and Permira and trade buyer Syniverse, a US-listed telecoms service company.

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