Yell

Partnership

CPC Europe Fund, CPC Fund V
& CPC Yell SBS

Sponsor

HM Capital

Investment

2001

Realized

2003

At the time of HM Capital’s acqusition, Yell was the leading independent Yellow Book business that was initially formed via the acquisition of British Telecom’s directories division. Following the initial acquisition, two strategic add-on acquisitions were made in North America (McLeod USA and National Directories). These acquisitions built the North American business to be the largest and most profitable independent yellow book business in North America. In 2003, Yell was successfully taken public on the London Exchange.