Intermediate Capital Group, a global alternative asset manager, offered to acquire a majority stake in Circet, a telecommunications network service provider, from Advent International, for $3.73bn. “We are proud to have helped Circet develop into not only a French champion but also the undisputed leader in telecom infrastructure services in Europe. This journey is emblematic of Advent’s DNA: supporting visionary management teams, which have strong ambitions to grow and transform their sectors,” Michael Ogrinz, Advent Partner and Head of France.