Matav
Industry:
Media Infrastructure
Investment Date:
April 1989
Investment Type:
Growth Capital
Company Description:
In 1987 Matav was granted an exclusive license to supply cable TV services in four geographic locations in Israel. Given its extensive industry experience, Shamrock saw an opportunity to invest in and add value to the development of a key growth industry in the Israeli market.
Transaction:
One year after Shamrock’s $2.3 million investment, Matav became the first cable TV company to commence commercial transmission in Israel. After making an additional investment in 1992, Shamrock actively assisted Matav in obtaining additional licenses which significantly expanded its franchise area. With the participation of Shamrock, Matav’s shares were issued to the public both on Tel-Aviv stock exchange and on the NASDAQ.
Realization:
The investment was sold in two transactions, in 1995 and in 1997, and produced an IRR of 58.7% and a 15x multiple.
