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Lightyear sells Telmar to Warburg Pincus

The New York-based firm will exit the communications company for an undisclosed amount.

Lightyear Capital has completed the sale of Telmar Network Technology to Warburg Pincus for an undisclosed amount.

Telmar, a logistics and supply chain broker to the communications industry, was acquired by Lightyear in November 2003 from Stonebridge Partners, which remained as a minority investor.

Telmar made a number of acquisitions under Lightyear. In March 2004 the company acquired Commnet Wireless Supply and in November 2004 it acquired Maya Telecom. The company also acquired several product lines from Alcatel in November 2005. In early 2005 Telmar completed a $50 million dividend recapitalization.

Irvine, California-based Telmar provides both equipment and services to the communications industry, including refurbishing equipment for wireless providers and repair and installation for communications companies.

The 2003 investment in Telmar came from The Lightyear Fund L.P., which closed in 2002 on $750 million. Lightyear focuses mostly on financial services, media and general industrial investments.

Warburg made today’s investment from its ninth fund, which closed last August on $8 billion. Founded in 1971, the firm invests in the information and communication technology industry. Warburg has invested more than $5 billion in approximately 120 communications technology companies. The firm currently has about $13 billion under management,