Investment firm Carlyle has sold its majority stake in Swedish dubbing and subtitling business BTI Studios to Altor, a private equity firm.
BTI Studios was founded in 1995 as Broadcast Text by its CEO Björn Lifvergren and has since become a global localisation company providing dubbing, subtitling and access services in more than 50 languages. It owns and operates 21 facilities in 17 countries in Europe, Asia and the US and its clients include broadcasters and major film studios.
Carlyle invested in BTI Studios in 2013 and during its ownership the company’s EBITDA has more than trebled to €100m as it has grown internationally.
Per Skoglund, Director at Carlyle Europe Technology Partners said: “BTI Studios is a global company run by a world class management team. We were pleased to support Bjorn Lifvergren and his team in building BTI Studios from a European subtitling company into a global media localisation services provider. Our investment in BTI Studios has demonstrated the expertise we can provide in supporting technology companies to grow internationally.”
Björn Lifvergren, CEO and Founder of BTI Studios said: “Altor is a strong and dynamic partner who shares our strategic views on continued international expansion and product development. During our discussions, Altor demonstrated a genuine understanding of our business model, and we believe them to be the right partner to support our next phase of development.”
The management team including Lifvergren will retain a minority share in the business.