Tag Archives: Telecom

3i-backed Evernex adds specialised telecom capabilities with the acquisition of Comptest

3I

3i Group plc (“3i”) announces that Evernex, a global leader in data centre maintenance services, has acquired Comptest Group (“Comptest”), a Poland-based company specialising in telecom and enterprise network equipment.

Founded in 1997, Comptest serves global telecom operators and carriers, with a technical focus on mission-critical network infrastructure. The company serves an international customer base of telecom operators and carriers, one of Evernex’s primary end-market segments, offering strong commercial synergies across the group’s existing customer base.

The acquisition marks the ninth since 3i’s investment in Evernex in October 2019. Comptest’s specialised expertise in telecom network equipment strengthens Evernex’s network capabilities and delivery footprint in the DACH region in a segment characterised by high barriers to entry and strong demand.

Stanislas Pilot, CEO, Evernex, said: “We are delighted to welcome Comptest to Evernex. The acquisition marks an important milestone as we expand our capabilities in telecom infrastructure, which is a natural extension of our capabilities. It also reinforces our technical expertise in network equipment and enhances our ability to serve telecom customers across Europe. Comptest’s strong technical expertise and customer relationships will enable us to further enhance the reliability, proximity and operational excellence we deliver to our customers.”

Patryk Sójkowski, CEO, Comptest, said: “Joining Evernex is an exciting opportunity for Comptest and our team. Evernex’s global platform will enable us to accelerate our development and bring our telecom capabilities to a broader international customer base. Together, we are well-positioned to support the growing demand for high-quality lifecycle services across telecom and enterprise networks.”

Marc Ohayon, Partner and Co-Head of France Private Equity, 3i, said: “This acquisition represents another important step in Evernex’s strategy as a global, integrated platform for IT lifecycle services. It also enables Evernex to deploy deep technical expertise in telecom network infrastructure across its global platform, further enhancing its value proposition to customers operating complex, distributed and mission-critical environments.”

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-Ends-

For further information, contact:

Kathryn van der Kroft
Communications Director
Tel: 020 7975 3021
Email: kathryn.vanderkroft@3i.com

Silvia Santoro
Group Investor Relations Director
Tel: 020 7975 3258
Email: silvia.santoro@3i.com

Notes to editors:

About 3i Group
3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America.

For further information, please visit: www.3i.com

About Evernex

Evernex is a leading global provider of data centre maintenance services, helping companies extend the lifespan of hardware, minimise downtime, and improve sustainability. Its solutions include maintenance, spare parts management, recycling, secure data disposal, relocation, hardware rental, and financing solutions.
Operating in more than 165 countries, Evernex maintains over 500,000 IT systems and offers 24/7 support through a network of global service centres.

For further information, please visit: www.evernex.com

About Comptest Group

Founded in 1997 and headquartered in Poznań, Comptest Group is a provider of repair and refurbishment services for telecom and enterprise network equipment. The company supports mission-critical infrastructure for international telecom operators and enterprises, with advanced technical expertise in optical transmission, core routing and access equipment.

For further information, please visit: https://comptest.pl/

Regulatory information
This transaction involved a recommendation of 3i Investments plc, advised by 3i France.

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Stonepeak to Acquire TeleTower from Providence Portfolio Company Bitė Group

Stonepeak

Creates First Independent Tower Operator in the Baltics

 TeleTower and Bitė Group to Continue Strategic Partnership to Invest in Mobile Networks Across Lithuania and Latvia

LONDON & VILNIUS – December 23, 2025 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, and Bitė Group (“Bitė”), a leading telecom operator in the Baltics, today announced an agreement by which Stonepeak will acquire TeleTower, Bitė’s towers business in Lithuania and Latvia. Bitė is a portfolio company of Providence Equity Partners (“Providence”), a specialist private equity firm focused on growth-oriented media, communications, education and technology companies. The transaction will create the first fully independent tower company in the region and represents the beginning of a strategic partnership dedicated to investing in the Baltics’ mobile network and improving end-customer experience.

Established in 2009 within Bitė, TeleTower operates a diversified portfolio of more than 2,500 tower and rooftop sites across Lithuania and Latvia, with strong presence in strategic locations in all major Lithuanian and Latvian cities. Following the completion of the transaction, TeleTower and Bitė will enter into a long-term commercial agreement including commitments to roll out more than 1,200 additional sites to increase network density, provide improved connectivity to remote areas, and deliver 5G speeds to customers, as mobile data usage in the region continues to outpace Europe more broadly.

“Lithuania and Latvia represent attractive, nascent tower markets given the sustained high levels of mobile data usage and competitive landscape between mobile network operators within the region,” said Nicolò Zanotto, Managing Director and Head of Digital Infrastructure, Europe at Stonepeak. “We believe TeleTower is poised for success given its diversified portfolio, state-of-the-art infrastructure, and first-mover advantage as the region’s first independent tower company. We are excited to back TeleTower and look forward to working closely with Bitė to support furthering their strategic objectives in both Lithuania and Latvia.”

“At every stage of our development, we have aimed to deliver maximum value to our customers while enhancing mobile and fixed connectivity, as well as broadening our offering with Pay TV services,” said Pranas Kuisys, the CEO at Bitė. “Since we first partnered with Providence, we have invested more than €400 million in our infrastructure to achieve this goal by building out 4G and 5G networks and delivering high-speed connectivity. Welcoming investment from a global strategic investor such as Stonepeak, combined with our future strategic partnership with TeleTower, reflects our continued commitment to these objectives.”

“Connectivity is a core investment theme for Providence. We are proud to have supported Bitė’s development into a leading player in the Baltic telecoms sector, growing revenues from approximately €200 million to €600 million under our ownership through new services such as Go3,” added Karim Tabet, Senior Managing Director and Head of Europe at Providence. “We continue to believe the Baltics benefit from strong fundamentals and we look forward to working with Stonepeak to bring their infrastructure expertise to this strategic partnership, adding significant value to both Bitė and TeleTower.”

The transaction is expected to close in the second quarter of 2026. Barclays served as financial advisor and Simpson Thacher & Bartlett LLP and COBALT served as legal counsel to Stonepeak. Lazard served as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison, A&O Shearman and Sorainen served as legal counsels to Bitė Group.

About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $80 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. For more information, please visit www.stonepeak.com.

About Bitė Group
Bitė Group is a leading telecommunications and media company operating in Lithuania, Latvia, and Estonia. The Group provides mobile, fixed broadband, pay TV, and media services. Bitė Group is managed by the global private equity firm Providence Equity Partners, which primarily invests in the media, communications, education, and technology sectors.

About Providence
Providence is a specialist private equity investment firm focused on growth-oriented media, communications, education and technology companies across North America and Europe. Providence combines its partnership approach to investing with deep industry expertise to help management teams build exceptional businesses and generate attractive returns. Since its founding in 1989, Providence has invested over $40 billion across more than 180 private equity portfolio companies. With its headquarters in Providence, RI, the firm also has offices in New York, London, Boston and Atlanta. For more information, please visit www.provequity.com.

Contacts

For Stonepeak
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (646) 540-5225

For Bitė Group
Jaunius Špakauskas
jaunius.spakauskas@bite.lt
+370(682)66188

For Providence Equity Partners
FGS Global
Charlie Chichester / Rory King
ProvidenceEquity@fgsglobal.com
+44 (0)20 7251 3801

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Cinven, KKR and Providence sell Stake in MasOrange for €4.25 billion

KKR

Marks successful exit from Spain’s telecommunications operator with the highest number of subscribers

MADRID and LONDON, 12 December 2025 – Cinven, KKR and Providence, the sponsors of Lorca JVCo (“Lorca”), the entity through which they indirectly own 50% of MasOrange, today announced they have reached a binding agreement for Orange to acquire Lorca’s stake. The transaction represents a significant milestone for Spain’s telecommunications operator with the highest number of subscribers.

Under the terms of the agreement, Lorca will receive total cash proceeds of €4.25 billion.

In 2020, Cinven, KKR and Providence strategically partnered with management and local shareholders to facilitate the €5.3 billion take-private of MásMóvil. MasOrange was formed in 2024 by the merger of MásMóvil and Orange España, with Orange Group owning 50% of the combined group and Lorca the remaining half.

At the time of the take-private, MásMóvil was the fourth largest player in the Spanish telecoms market with more than 11 million customers. Under the consortium’s ownership, MasOrange has developed into the telecommunications operator with the highest number of subscribers in Spain, serving over 33 million lines. The sponsors have partnered closely with management to organically grow the business, develop a top-quality product offering and customer satisfaction, as well as reduce churn. Over the course of the sponsors’ investment, MásMóvil also completed more than ten network transactions and seven accretive acquisitions including the transformative take-private of Euskaltel in 2021 and the merger with Orange España in 2024. Earlier this year, MasOrange also created one of the largest independent fibre networks in Europe by merging its network assets with those of Vodafone Spain. 

Miguel Segura and Thomas Railhac, Partners at Cinven said: “Our journey with MasOrange has been an extraordinary one. We are immensely proud to have played a role in building Spain’s leading telecommunications operator, driving innovation and delivering meaningful value to millions of customers and we are delighted to see MasOrange well-positioned for a bright future ahead.”

Iñaki Cobo, Partner at KKR and Head of Iberia, said: “Since 2020, MasOrange has undergone a transformation from a challenger brand, growing into Spain’s leading telecommunications operator. We’ve been delighted to have played a role in accelerating the growth of a company powering vital, market-leading connectivity for millions of citizens and businesses, alongside our consortium partners and the exceptional team at MasOrange.”

Robert Sudo, Managing Director, Providence, who first invested in MásMóvil in 2016, said: “Over the past nine years, our investment in MasOrange has exemplified our specialist approach and ability to identify compelling opportunities in the middle market and build them with strategic and financial support to top level firms in Spain and beyond. We are grateful to MásMóvil’s founder and CEO Meinrad Spenger, whose strategic vision and partnership have been pivotal to driving transformative growth. We wish everyone at MasOrange success for the next chapter and would like to thank our Lorca co-investors for their partnership since 2020.”

Advisors to Cinven, KKR and Providence included: Barclays, BOFA, BNP Paribas, CACIB, Goldman Sachs (lead), ⁠JP Morgan (M&A) and Freshfields (Legal).

Completion of the transaction is anticipated in H1 2026, subject to customary closing conditions and regulatory approvals.

About Providence
Providence is a specialist private equity investment firm focused on growth-oriented media, communications, education and technology companies across North America and Europe. Providence combines its partnership approach to investing with deep industry expertise to help management teams build exceptional businesses and generate attractive returns. Since its founding in 1989, Providence has invested over $40 billion across more than 180 private equity portfolio companies. With its headquarters in Providence, RI, the firm also has offices in New York, London, Boston and Atlanta. For more information, please visit www.provequity.com.

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com

About Cinven
Cinven is a leading international private equity firm focused on building world-class global and European companies. Its funds invest in six key sectors: Business Services, Consumer, Financial Services, Healthcare, Industrials and Technology, Media and Telecommunications (TMT). Cinven has offices in London, New York, Frankfurt, Paris, Milan, Madrid, Guernsey and Luxembourg.
Cinven takes a responsible approach towards its portfolio companies, their employees, suppliers, local communities, the environment and society.
Cinven Limited is authorised and regulated by the Financial Conduct Authority. Cinven Fund Management S.à r.l. is authorised and regulated by the Commission de Surveillance du Secteur Financier.
In this press release ‘Cinven’ means, depending on the context, any of or collectively, Cinven Holdings Guernsey Limited, Cinven Partnership LLP, and their respective Associates (as defined in the Companies Act 2006) and/or funds managed or advised by any of the foregoing.
For additional information on Cinven please visit www.cinven.com and www.linkedin.com/company/cinven/.

For Cinven
Clare Bradshaw
Tel. +44 (0)7881 918 967
clare.bradshaw@cinven.com
Alison Raymond
Tel. +44 (0)7826 856198
alison.raymond@cinven.com
Brunswick
bgcinven@Brunswickgroup.com

For KKR
FGS Global
Alastair Elwen
+44 (0)20 7251 3801
kkr-comms-emea@fgsglobal.com

For Providence
FGS Global
Charlie Chichester / Rory King
+44 (0)20 7251 3801
ProvidenceEquity@fgsglobal.com

 

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Novacap Invests in TAG Towers to Accelerate its Tower Development Strategy

Novacap

Novacap, a leading North American private equity firm, is pleased to announce it has entered into a partnership with TAG Towers (“TAG”), a Kentucky-based developer and operator of wireless tower infrastructure. TAG is the fifth platform investment by Novacap’s Digital Infrastructure sector.

Founded in 2008 by a group of wireless industry professionals, TAG is a developer and operator of wireless tower infrastructure with a strong presence in the Midwest region of the United States.

“TAG’s strong execution track record makes them a natural fit for our digital infrastructure portfolio. We’re proud to support their next phase of growth as demand for wireless infrastructure continues to surge,” says Ted Mocarski, Senior Partner, Head of Digital Infrastructure at Novacap.

“With Novacap’s backing and expertise, we can effectively scale our operations and continue delivering high-quality wireless tower assets to support America’s 5G future,” says David Ginter, Co-Founder & President of TAG Towers.

Fasken Martineau Dumoulin LLP served as legal advisor to Novacap. SteelTree Partners, LLC served as financial advisor to TAG and Smith, Gambrell & Russell, LLP served as its legal advisor.

About TAG Towers

TAG Towers is a leading provider of wireless tower infrastructure based in Richmond, Kentucky. With more than 30 years of industry experience, TAG’s management team delivers tailored solutions to national wireless service providers through the design, construction and leasing management of wireless tower assets in the Midwest region of the United States. For more information, please visit: tagtowers.com

About Novacap

Novacap is a leading North American private equity investor and one of Canada’s most experienced private equity firms. Founded in 1981 to partner with visionary entrepreneurs, Novacap focuses on middle market and lower-middle market companies in four core sectors: Technologies, Digital Infrastructure, Industries and Financial Services. Novacap combines deep sector specific expertise and strategic and operational excellence to partner with entrepreneurs and management teams. Since its inception, the firm has made primary and add-on investments in more than 250 companies. With over US $11 billion in assets under management and a presence across offices in Montreal, Toronto, and New York, Novacap accelerates value creation through strategic growth initiatives and a strong focus on execution.

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CVC DIF and Jersey Telecom to acquire Manx Telecom Group, the integrated incumbent digital-infrastructure platform on the Isle of Man

CVC Capital Partners

Manx Telecom operates the island’s sole fibre and copper networks, is the island’s #1 telecom operator, and runs two Tier III data centres.
•    The partnership with CVC DIF and Jersey Telecom will support Manx Telecom’s continued growth and investment in next-generation networks.

CVC DIF, the infrastructure strategy of the leading global private markets manager CVC, and Jersey Telecom (“JT”), the leading telecom infrastructure provider in the Channel Islands, have partnered to acquire Manx Telecom Group (“Manx”), the incumbent telecommunications provider on the Isle of Man, from funds managed by Basalt Infrastructure Partners LLP (“Basalt”). The investment will be made through DIF Infrastructure VIII and is expected to close in the fourth quarter of 2025, subject to customary closing conditions.

Founded in 1987 and headquartered in the Isle of Man, Manx Telecom is the incumbent digital-infrastructure platform on the island, offering broadband, fixed line, mobile, and secure data services to residential, business, and public sector customers. With a strong heritage and a commitment to innovation, Manx Telecom also empowers global connectivity through its IoT and data centre hosting solutions. The company is dedicated to supporting the Isle of Man’s digital economy and maintaining its position as a centre of excellence for technology and communications.

JT is a telecommunications provider owned by The States of Jersey and headquartered in St Helier. With a legacy of innovation and community service, JT delivers advanced connectivity, mobile, broadband, and enterprise solutions across the Channel Islands  and internationally. JT is committed to building resilient digital infrastructure, supporting economic growth, and enabling the future of smart technologies through strategic investment in fibre, 5G, and IoT platforms.

This acquisition will benefit from the combined knowledge and expertise of two leading operators, each with strong local foundations and expanding international reach. With CVC DIF’s infrastructure expertise and capital support, JT and Manx Telecom will remain at the forefront of next-generation network technology and continue scaling their enterprise services.

Tom Goossens, Partner and Co-Head of the DIF Infrastructure fund strategy at CVC DIF, commented: “Our investment in Manx Telecom reflects our conviction in the long-term value of resilient, locally rooted digital infrastructure. As the Isle of Man’s incumbent operator, Manx offers a strong platform for innovation and growth, and we are excited to support its next phase of development. The partnership with Jersey Telecom further builds on this foundation, enabling us to scale operational capabilities across the Crown Dependencies and beyond. Together, we aim to accelerate investment in next-generation networks and deliver enhanced connectivity and enterprise services to customers.”

Quotes

Our investment in Manx Telecom reflects our conviction in the long-term value of resilient, locally rooted digital infrastructure

Tom GoossensPartner and Co-Head of the DIF Infrastructure fund strategy

Gary Lamb, CEO of Manx Telecom Group, added: “We have always been proud to serve the Isle of Man, and this partnership marks an exciting new chapter with Jersey Telecom sharing our core values and long-term vision. With their support and CVC DIF’s experience and track record in the telecoms sector, we are in a strong position to accelerate innovation and continue delivering the high-quality service our customers expect.”

Daragh McDermott, CEO of JT Group, added: “This marks a major step forward for JT Group. With the local expertise of Manx Telecom and the deep sector experience of CVC DIF, we are building a scalable and powerful platform for innovation and international expansion—one that combines local expertise with global ambition to better serve our customers across the Crown Dependencies and beyond.”

John Hanna, Managing Partner at Basalt, added: “It has been a great experience to support the growth of Manx Telecom since our acquisition in 2019. Today, Manx Telecom is well positioned for the future with a near fully deployed fibre network on the Isle of Man. We are excited to see the company’s next phase of development in partnership with CVC DIF and Jersey Telecom.”

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Novacap Announces Partnership with FyberCom to Accelerate Fiber Expansion in Idaho

Novacap

Novacap, a leading North American private equity firm, is pleased to announce that it has successfully closed its investment in FyberCom. The transaction marks the sixth platform investment by Novacap’s Digital Infrastructure Sector.

Headquartered in Idaho Falls, Idaho, FyberCom is a broadband service provider delivering high-speed fiber and fixed wireless internet to rural homes and businesses across Eastern Idaho. Since 2014, FyberCom has been committed to connecting underserved communities, with a strong focus in recent years on expanding its fiber network to meet the growing demand for reliable, high-speed connectivity.

“This partnership reflects our continued conviction in the rural broadband opportunity,” said Francois Laflamme, Senior Partner at Novacap. “FyberCom has built a strong local presence and a meaningful impact in the communities it serves. We are pleased to support the team as they continue to grow their network and expand access to essential digital infrastructure across Idaho.”

“This partnership with Novacap represents an important step forward for FyberCom,” said Jared Stowell, CEO of FyberCom. “We remain committed to delivering fast and reliable internet to rural communities and are excited to accelerate that mission with Novacap’s support.”

The investment reflects a shared commitment to supporting broadband expansion in underserved markets and aligns with a strategy of Novacap Digital Infrastructure Fund of partnering with companies that deliver essential connectivity across North America.

About FyberCom

Founded in 2014, FyberCom provides high-speed fiber and fixed wireless internet services to residential and commercial customers throughout Eastern Idaho. With a focus on rural and underserved communities, the company is dedicated to expanding reliable digital access across the region.

For more information, visit: fybercom.net

About Novacap

Novacap is a leading North American private equity investor and one of Canada’s most experienced private equity firms. Founded in 1981 to partner with visionary entrepreneurs, Novacap focuses on middle market and lower-middle market companies in four core sectors: Technologies, Digital Infrastructure, Industries and Financial Services. Novacap combines deep sector specific expertise and strategic and operational excellence to partner with entrepreneurs and management teams. Since its inception, the firm has made primary and add-on investments in more than 250 companies. With over US $10 billion in assets under management and a presence across offices in Montreal, Toronto, and New York, Novacap accelerates value creation through strategic growth initiatives and a strong focus on execution.

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CVC DIF to acquire SBA Communications’ Canadian tower business, a leading wireless tower infrastructure platform in Canada

CVC Capital Partners
  • Established in 2009, SBA Communications’ Canadian tower business represents one of the largest independent wireless tower portfolios in Canada
  • Long-term contracted tower portfolio, strategically located across key urban, suburban and rural markets

CVC DIF, the dedicated infrastructure investment strategy of global private markets manager CVC, today announced it has signed a definitive agreement to acquire SBA Communications’ Canadian wireless tower business (“SBA Canada”), a leading independent owner and operator of wireless communications towers across Canada. The transaction is expected to close during the fourth quarter of 2025, subject to customary regulatory approvals and closing conditions. The investment in SBA Canada will be made through DIF Infrastructure VIII.

Established in 2009, SBA Canada represents one of the largest independent wireless tower portfolios in Canada, owning and operating a diversified portfolio of approximately 500 owned and managed wireless communication sites strategically located across high-growth urban, suburban and rural markets. The Company’s portfolio is underpinned by long-term contracts featuring escalation mechanisms and long-duration site control. SBA Canada plays a prominent role in supporting the expansion of next generation 5G and broadband networks for Canadian mobile network operators and connectivity providers.

Tom Goossens, Partner and Co-Head of the DIF Infrastructure fund strategy at CVC DIF, commented: “The acquisition of SBA Canada represents a significant investment in critical digital mobile tower infrastructure. SBA Canada’s diversified high-quality tower portfolio, long-term customer relationships and proven development capabilities make it a valuable addition to CVC DIF’s fund portfolio. We look forward to supporting the Company’s continued growth and helping to accelerate connectivity across Canada.”

Brendan Cavanagh, Chief Executive Officer of SBA Communications, added: “This transaction aligns with our long-term strategic goal of focusing on our core markets, while realizing substantial value for this unique set of assets in Canada and allowing us to reinvest proceeds for the benefit of our shareholders.”

CVC DIF is advised by TD Securities (financial advisor), Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. (legal advisor), EY-Parthenon (commercial advisor), Leo Berwick (financial and tax advisor), Saras Partners (technical advisor) and Arcadis (environmental advisor).

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KKR Completes Acquisition of Metronet through Joint Venture, Accelerating Fiber Expansion Across the U.S.

KKR

NEW YORK–(BUSINESS WIRE)–KKR, a leading global investment firm, today announced the completion of the previously announced acquisition of Metronet, one of the largest and fastest-growing independent fiber-to-the-home providers in the United States, through a joint venture with T-Mobile, a leading telecommunications company with the largest 5G network. The transaction brings together Metronet’s broadband infrastructure, rapidly growing residential and commercial fiber business operations and existing customers, creating a scaled platform to accelerate fiber deployment across underserved markets.

“Fiber is the connective tissue of the modern economy—from tele‑health and remote learning to AI‑powered enterprises,” said Waldemar Szlezak, Partner and Global Head of Digital Infrastructure at KKR. “For over 15 years, KKR has been a leader in the fiber space, delivering capital and capabilities to the world’s most critical networks. By combining Metronet’s leading build engine with T‑Mobile’s national reach, we can accelerate world‑class connectivity to millions of underserved homes and businesses.”

Metronet is delivering multi-gigabit internet service in more than 300 communities in 19 states, with more communities added each month. More than 2.6 million homes and businesses have access to Metronet fiber, which covers more than 42,000 miles.

The acquisition builds on KKR’s integrated digital infrastructure franchise. KKR has committed $31 billion of equity into digital infrastructure and over $20 billion into power and renewables. This includes supporting five data‑center platforms across U.S., APAC, and EMEA with over 155 facilities and 9 GW of pipeline. KKR’s digital infrastructure portfolio also includes 12 fiber investments across ~30 million homes passed in the U.S., Europe, and Latin America, with ~4 million new homes passed with fiber infrastructure per year, as well as total 130,000+ wireless infrastructure sites across Europe and APAC.

As part of the closing of the transaction, Metronet will now become a wholesale internet services provider, with T-Mobile Fiber as its partner for residential service. T-Mobile Fiber has acquired Metronet’s residential customers and will have responsibility for residential customer acquisition, support, and the customer experience. Metronet will continue to build new fiber-optic network infrastructure, maintain its existing network, and install service for new customers. Under the joint venture, Metronet has retained its commercial-services business.

“Metronet has built the industry’s most efficient fiber‑construction engine, bringing world‑class digital infrastructure to underserved communities at an unprecedented pace,” said Dave Heimbach, Chief Executive Officer of Metronet. “With KKR and T‑Mobile, we have best‑in‑class strategic partners committed to taking our growth to the next level.”

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKRs website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Metronet

Metronet, the nation’s fastest-growing fiber-to-the-home builder, is now owned by a joint venture of T-Mobile, America’s 5G leader, and KKR, the global investment firm. The company operates its 100% fiber optic networks on a commercial and wholesale basis, with T-Mobile Fiber providing marketing, sales and the customer experience for residential users. In cities across the country, Metronet has been building and operating fiber networks since 2005. Today, more than 2.6 million homes and businesses in more than 300 communities across 19 states have access to Metronet fiber, with new communities added each month. More information on the company can be found at metronet.com.

 

Contacts

Media Contacts
Liidia Liuksila
212-750-8300
media@KKR.com

Scott Shapiro
media@metronet.com

 

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Airalo becomes the first eSIM Unicorn with an investment round of $220m

CVC Capital Partners

Backed by strong global demand, Airalo is scaling its eSIM solutions and infrastructure to power the next generation of travel with borderless mobile access for consumers and businesses alike.

Airalo, the world’s first and largest eSIM provider, today announced a $220m investment led by new investor, CVC. The investment includes new growth capital valuing Airalo at over $1 billion, marking its status as the industry’s first unicorn. Driven by surging global demand, Airalo has continued its rapid expansion and now serves over 20 million travelers across 200+ destinations. With a new app experience and unlimited data plans launching this summer, Airalo is setting a new standard for global connectivity. Airalo’s mobile app empowers travellers to instantly get the highest quality roaming experience when abroad, at prices that are a fraction of what they would normally pay.

As millions of users rely on Airalo to stay connected abroad, the company is scaling faster than ever, and this latest funding will further accelerate its growth. The investment includes $185m from lead investor CVC (through its CVC Asia Fund VI), with participation from existing investors Peak XV and Antler Elevate. This new capital will fuel the continual improvement of the customer experience, including enhanced user support, new products and better value for money. Airalo will also use its industry-leading platform to provide connectivity to companies, both for the needs of their employees and their customers.

“This funding is a major milestone, not just for Airalo, but for the future of global connectivity,” said Ahmet Bahadir Ozdemir, CEO and co-founder of Airalo. “This raise allows us to drive innovation across every part of the user journey by delivering more flexible plans and a faster, more seamless experience. We’re not just enabling better eSIM solutions for travel – we’re building the infrastructure for the next generation of international mobile connectivity.”

Quotes

Airalo, with a highly scalable digital model grown primarily through organic channels, is best positioned to deliver superior value and customer experience for global travelers. We look forward to supporting Bahadir and the Airalo team.

Siddharth PatelManaging Partner at CVC

“We are thrilled to partner with Airalo — the clear category leader in travel eSIMs and a pioneer in redefining how travelers connect worldwide,” said Siddharth Patel, Managing Partner at CVC. “The digital travel eSIM market, whilst already worth US$1 billion, is at the very early stages of becoming the main method by which consumers can receive the highest quality experience abroad, at a much lower price than they pay for roaming today.  Airalo, with a highly scalable digital model grown primarily through organic channels, is best positioned to deliver superior value and customer experience for global travelers. We look forward to supporting Bahadir and the Airalo team.”

Airalo continues to expand its connectivity offerings to provide a full suite of options for every traveler. Starting in July, the company will offer the market’s most extensive range of eSIM data bundles, whether it’s for business or pleasure—ranging from 1 GB plans ideal for quick trips and layovers to 30-day unlimited data bundles for travelers with heavier data needs. Additionally, Airalo is introducing dedicated data, text, and voice packages in select destinations to allow users to truly “connect like a local.” Beyond these new packages, Airalo will soon roll out a new in-app experience across web, iOS, and Android to further improve the user journey.

The company is also scaling its enterprise platform to meet rising demand from businesses and partners. Airalo for Business provides companies with a streamlined platform to manage global connectivity for their teams—helping them assign eSIMs, control budgets, and reduce roaming costs by up to 90%. For partners, Airalo’s White Label solution makes it easy to launch a fully branded eSIM store in minutes, unlocking new revenue opportunities with minimal effort. Airalo also offers API integrations, reseller tools, and voucher programs to enable any partner to offer travel connectivity to its users. These offerings, along with a new eSIM capability launching soon, reflect Airalo’s commitment to building the infrastructure that powers modern, mobile-first businesses everywhere.

To learn more about Airalo and how it is helping travelers stay connected, visit www.airalo.com. For more information on Airalo’s business solutions, visit www.partners.airalo.com.

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BCI Invests in KKR Tower Platform Pinnacle Towers

KKR

SINGAPORE & VICTORIA, Canada–(BUSINESS WIRE)– KKR, a leading global investment firm, British Columbia Investment Management Corporation (“BCI”), and Pinnacle Towers, an Asia-based digital infrastructure platform with a focus on the Philippines, today announced the signing of definitive agreements under which BCI will acquire a minority stake in Pinnacle Towers from KKR, which will remain the majority shareholder.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250608594472/en/

Pinnacle Towers was established in 2020 to serve the rapidly increasing demand for connectivity and quality telecommunications infrastructure in the Philippines. Led by a highly experienced management team, the platform specializes in executing on Build-to-Suit (“BTS”) telecommunications tower projects, optimizing the use and management of Sale-and-Leaseback (“SLB”) assets with leading mobile network operators, and providing ancillary management services to industry players. In the span of five years, Pinnacle Towers has scaled to become the largest independent tower company in the Philippines with around 7,000 towers.1

Lincoln Webb, Executive Vice President & Global Head, Infrastructure & Renewable Resources, BCI, said, “We are excited to work closely with KKR and Pinnacle’s management team to support the growth of the business. The Philippines represents a compelling market for long-term capital, especially in essential digital infrastructure services. This investment aligns with our emerging markets strategy of backing high-quality infrastructure assets alongside strong institutional partners. We look forward to supporting Pinnacle Towers as it continues to enhance digital connectivity and drive meaningful impact across the Philippines.”

Projesh Banerjea, Managing Director, Infrastructure, KKR, said, “We are very proud of the success that we have achieved with Pinnacle Towers to serve the Philippines’ connectivity needs. Since our initial investment, we have collaborated closely with Pinnacle Towers’ outstanding management team to deepen the platform’s capabilities and scale its presence organically and through bolt-on acquisitions. We are delighted to welcome BCI, who share our long-term vision and commitment to developing critical digital infrastructure, as strategic partners and look forward to building on Pinnacle Towers’ strong growth momentum.”

Patrick Tangney, Chairman and CEO of Pinnacle Towers, said, “Over the last five years, with the support of KKR, Pinnacle Towers has grown to become the leading independent tower company in the Philippines. BCI’s investment marks an important milestone in our journey and is a strong endorsement of our mission. With BCI and KKR as strategic partners, we are well-positioned to continue driving greater digital connectivity in the Philippines and across the region.”

BCI Infrastructure & Renewable Resources has a global portfolio with nine active investments in the Asia-Pacific region, including Rakuten Mobile (a leading communications tower company in Japan), Altius (a leading communications tower company in India), and Cube Highways (the largest toll road operator in India). The program continues to expand its presence in the region with the addition of this minority stake acquisition in Pinnacle Towers.

KKR made its investment in Pinnacle Towers from its Asia Infrastructure Funds I and II. KKR first established its global infrastructure team and strategy in 2008 and has since been one of the most active infrastructure investors around the world. KKR’s Asia Pacific infrastructure platform was established in 2019 and has since organically grown to approximately US$13 billion in assets under management.

The transaction is expected to be completed by Q3 2025, subject to customary regulatory approvals.

About BCI

British Columbia Investment Management Corporation (BCI) is amongst the largest institutional investors in Canada, with C$250.4 billion in gross assets under management as of March 31, 2024. Based in Victoria, British Columbia, with offices in Vancouver, New York, and London, U.K., BCI manages a portfolio of diversified public and private market investments on behalf of its British Columbia pension fund and institutional clients. Learn more at www.bci.ca.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Pinnacle Towers

Pinnacle invests in, builds and operates telecommunications infrastructure with a focus on towers and related assets. Pinnacle is an Asia-focused digital infrastructure platform with a strong focus on the rapidly growing Philippines market. Frontier’s leadership team includes founders of a number of highly successful tower companies and former C-level executives from some of the world’s leading wireless operators. KKR first invested in Pinnacle Towers in 2020.

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1 Including sites contracted to build or acquire

 

Media Contacts

For BCI
Olga Petrycki
+1 778 410 7310
media@bci.ca

For KKR Asia Pacific
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

For Pinnacle Towers
Hendrik-Jan Kroon
Hendrik@frontiertowersphilippines.com

Source: KKR

 

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