Presentation

Marlink     is     a     world     leading     commercial     satellite communications’ provider operating through two divisions: The  Maritime  division and The   Land   division.

In  the  SatCom  value  chain,  Marlink  sources  space  capacity from  Satellites  Network  Operators  (“SNOs”),  operates  its own  land  infrastructures, and designs, engineers and manages smart network solutions, based on an intelligent hybrid networks and digital solutions.

It sells  them  directly  or  through  its  extensive  network  of  400 resellers  providing  unmatched  commercial  and  installation capabilities worldwide.

Marlink enjoys a large and diversified customer base of circa 11,000  vessels,  of  which  over  8,200  (inc.  off-net) are   equipped   with   the   latest   broadband   technology VSAT; and 2,300 sites on Land.

Beyond  connectivity,  Marlink  provides  a  full  range  of digital solutions  addressing   customers’   needs   in   a number   of   market   segments   including   IT and cyber security, Cloud & SD-Wan, Network management, Telemedecine, Crew and Worker welfare to help customers to run their remote operations in ever smarter, more profitable and sustainable ways.

*as of December 31st, 2023

Why did we invest?

Marlink encompasses the commercial division of Vizada, a former portfolio company of Seven2 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
• (v) consolidating a highly fragmented industry.

Past performance is no guarantee of future performance.
The profitability of portfolio companies is never guaranteed.