Blackstone Acquires Interplex, a Global Leader in Customized Connector Solutions for High-Growth Markets


SINGAPORE, January 20, 2022 – Blackstone (NYSE:BX) announced today that private equity funds managed by Blackstone (“Blackstone”) have acquired Interplex, a global leader in innovative and customized connector solutions for the auto, medical and information communications technology (ICT) markets, from Baring Private Equity Asia’s affiliated private equity funds (“BPEA”). The company has developed strong R&D capabilities and services a portfolio of blue-chip industry customers through a manufacturing footprint spanning 13 countries.

Interplex is a key industry leader in future mobility power and signal connector technology, working closely with electric vehicle (EV) customers to develop proprietary solutions for EV powertrains, battery systems, autonomous driving, and other vehicle electrification applications. The company has also actively positioned itself for other high-growth connector and high precision products in markets such as smart medical devices, life sciences, and ICT. Interplex will continue to support customers in providing solutions for their increasingly complex product development roadmap.

Ed Huang, Chief Operating Officer of Asia Private Equity for Blackstone, said: “Interplex is a global leader in developing innovative interconnect solutions targeting key markets that we believe have attractive growth prospects – markets such as EVs and future mobility, healthcare, and digital infrastructure. This investment reflects Blackstone’s continued global focus on investing in leading companies that are well positioned in what we refer to as good neighborhoods. We are very pleased to partner with a world-class management team and look forward to supporting Interplex on its next phase of growth.”

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at Follow Blackstone on Twitter @Blackstone.

Media Contact
Ellen Bogard
Tel: +852 3651 7737

Categories: News


Audax Private Equity Announces Investment in Centerline Communications

Audax Private Equity Announces Investment in Centerline Communications

JAN 11, 2022

Audax Private Equity (“Audax”) announced today that it has acquired a controlling interest in Centerline Communications LLC (“Centerline”), a leading professional services organization focused on the design, build, and maintenance of wireless and wireline network infrastructure from Wincove Private Holdings, LP (“Wincove”) and Stone-Goff Partners (“Stone-Goff”). This transaction took place in August 2021 and terms of the transaction were not disclosed.

Josh Delman, Founder and CEO of Centerline, will continue to lead the company alongside the existing management team. Josh and Wincove will maintain minority ownership positions in the company alongside Audax.

The investment will support Centerline’s continued organic and acquisition growth as it pursues its mission to grow its national footprint and further expand its scope of services focused on the development and maintenance of critical network infrastructure.

Since Audax’ initial investment, Centerline has completed three acquisitions that have helped expand the company’s geographic coverage and range of service offerings: Maicom LLC (“Maicom”), which closed in August 2021; P. Marshall & Associates (“PM&A”), which closed in December 2021; and J5 Infrastructure Partners (“J5”), which closed in December 2021.

Maicom is a critical infrastructure focused services organization based in North Andover, MA, that provides critical infrastructure installation and maintenance for major multiple-system operators (“MSO’s”) throughout the United States and Canada in support of their networks. Centerline acquired Maicom from the Boston-based investment firm, Heritage Holding.

PM&A is an engineering, real estate, and construction management organization based in Atlanta, GA that provides professional services to national wireless operators and major infrastructure owners throughout the southeast and gulf coast of the United States.

J5, based out of Irvine, CA, is a real-estate, construction management, and engineering firm supporting national wireless operators and several national and regional broadband providers throughout the western United States. Centerline acquired J5 from Raleigh-based investment firm, Ridgemont Equity Partners. The founders of each business (Paul Maiuri from Maicom, Patrick Marshall from PM&A, and John Barker from J5) and their respective management teams are planning to remain with the combined platform. With these strategic acquisitions, the Centerline platform now has over 1,200 professionals helping to support the deployment of critical infrastructure throughout the United States and Canada.

Josh Delman, Founder and CEO of Centerline, said, “We are thrilled to be partnering with Audax and look forward to benefitting from their deep industry expertise. We believe this partnership will help us to meet the growing demand within our customers to work with larger, self-performing service organizations that can provide turn-key solutions to critical infrastructure within their national networks. We are excited to have expanded our coverage through our recent acquisitions and to be diversifying our services within the platform to better support our customers.”

“We believe Centerline is well-positioned to grow organically and through acquisitions as it continues its mission to build out a broad range of critical infrastructure services nationally,” said David Wong, Managing Director of Audax. “We are thrilled to be partnering with the company’s highly-experienced management team to help take the business to the next level.”

Keybanc Capital Markets acted as an advisor to Centerline in the transaction with Audax and Husch Blackwell served as legal counsel. Ropes & Gray LLP and Fredrikson & Byron served as legal counsel to Audax.

Categories: News


Cinven to invest in Ufinet International


Transaction underscores Cinven’s commitment to Ufinet, Ufinet’s continued growth prospects and the strength of Cinven’s strategic partnership with its co-shareholder Enel

International private equity firm Cinven today announces that the Seventh Cinven Fund has agreed to make a majority investment in Ufinet International (‘Ufinet’ or ‘the Group’), a leading fibre network operator headquartered in Spain and operating in Latin America, for an enterprise value of approximately €2.5 billion.

The transaction underscores Cinven’s commitment to Ufinet and builds on its successful track record of investing in the business through prior Cinven Funds. Enel, that has been a minority co-shareholder in Ufinet since 2018, will re-invest a minority stake in the Group.

Ufinet leases optical fibre infrastructure (‘dark fibre’ services) and provides transmission services (‘lit fibre’) which together comprise c. 90% of revenues. The business also provides other telecom infrastructure like Fibre to the Home (‘FTTH’) or small cells and associated value-added services.

Ufinet operates across 17 countries and more than 2,000 cities in Latin America including in Colombia, Panama, Guatemala and Costa Rica, providing fibre infrastructure and transmission services to telecom operators. Ufinet was established as an independent business in June 2014, following its demerger from Gas Natural Fenosa, the Spanish utility provider, and today employs c.1,400 people across Spain and Latin America.

During Cinven’s ownership, Ufinet has demonstrated significant growth including:

  • Strong revenue and EBITDA growth increasing by c.500% and c.700% respectively;
  • Successful buy and build with the completion and integration of 9 value-accretive acquisitions including Nedetel in Ecuador, NB Telecom and Netell in Brazil, among others;
  • Consistent investment in network improvement and expansion, growing its fibre network by three times and maintaining network performance levels well above industry requirements; and
  • Job creation with the number of Ufinet employees growing by more than 1,400% from less than 100 employees to c. 1,400.

Cinven’s Iberia and TMT teams believe Ufinet is a compelling investment opportunity given its:

  • Strong structural growth drivers, given the significant increase in businesses transitioning to using high speed connectivity, driving further demand for fibre;
  • Operations in nascent markets with strong growth trajectories, underpinned by increased usage and penetration of fixed / mobile broadband and data centres;
  • Significant international expansion and buy and build opportunities, building on its strong track record of successful geographic and acquisitive growth;
  • Strong financial performance, with profits growing at nearly 30% per annum since 2018, including robust performance throughout COVID-19, demonstrating the resilience of the business model;
  • Significant ‘first mover’ advantage, given its well-invested and extensive fibre network; and
  • Industry-leading management team led by CEO, Iñigo Garcia del Cerro Prieto, who has successfully executed the growth strategy of the business since its independence from Gas Natural Fenosa.

Commenting on the transaction, Jorge Quemada, Partner at Cinven, said:

“Ufinet has significant long term strategic ambitions to expand and further internationalise its business, given the strong market dynamics driving the increased use of fibre. Cinven has successfully invested in Ufinet before – as well as in telecom providers in other markets, including Ziggo, Numéricable and MasMovil in the Netherlands, France and Spain, respectively. The Cinven team understands the telecom industry extremely well and, combined with the regional expertise of the Cinven Iberia team, continues to see compelling growth opportunities for Ufinet through a combination of market expansion, organic growth and further buy and build.

Cinven is delighted to continue its strategic partnership with Enel in support of Ufinet’s next phase of growth. In addition, the Cinven team is excited to back the first-class management team, led by Iñigo Garcia del Cerro Prieto, who has already executed a highly successful growth strategy for Ufinet over the past seven years.”

Iñigo Garcia del Cerro Prieto, CEO of Ufinet, added:

“We have had the privilege of working alongside Cinven and Enel since 2014 and 2018 respectively. With the renewal of their partnership, Ufinet strengthens its commitment to grow and expand the business, capitalising on the experience and scale of its shareholders to consolidate and increase its presence in the markets where it operates.

The transaction reinforces Ufinet’s long-term vision, enabling the Company to expand its footprint and become the largest neutral operator of telecommunications infrastructure in Latin America.”

Cinven’s previous successful investments in telecoms have included Ziggo, the leading cable operator in the Netherlands; Numéricable, the French cable operator, both successfully realised following significant buy and build strategies; and MasMovil, one of the largest telecoms operators in Spain which successfully acquired Euskaltel in 2021.

The transaction will be subject to certain regulatory approvals.

Advisers to Cinven on the transaction included Natixis (M&A), Deloitte (tax), Altman Solon (commercial due diligence), KPMG (financial due diligence) and Freshfields (legal).

Categories: News


Red Eléctrica Group welcomes KKR as a long-term strategic partner in Reintel and strengthens its position in the telecommunications sector


Reintel is the leading dark fibre infrastructure operator in Spain with a network of over 52,000 km

  • KKR will acquire a significant minority stake in Reintel for EUR 971 million, implying an enterprise value of EUR 2.3 billion for the entire business (22.1x EV/2021E EBITDA).
  • Both shareholders are fully committed to long-term value creation for Reintel


Madrid, 16 December 2021 – The Board of Directors of Red Eléctrica Group has approved an agreement reached via its subsidiary Red Eléctrica Corporación with KKR, on the terms of an investment by KKR in Reintel, the leading dark fibre infrastructure operator in Spain. The transaction comes after a four-month sale process which attracted the interest of several infrastructure funds.

As part of the transaction, KKR will acquire a 49% stake in Reintel for a total of EUR 971 million. Red Eléctrica Group will continue to be the controlling shareholder and will retain accounting consolidation of Reintel.

The agreed transaction value represents an enterprise value of EUR 2.3 billion for 100% of the business, implying an EV/2021E EBITDA of 22.1 times, unlocking hidden value in Red Eléctrica Group and demonstrating Reintel’s leadership position in the Spanish dark fibre market.

Both shareholders are fully committed to creating long-term value for Reintel, underpinned by the company’s existing strong position in the dark fibre market and the deployment of resources by KKR to support its ongoing business and harness future growth opportunities.

  • KKR is making the investment in Reintel through its core infrastructure strategy which focuses on investing in high quality assets in developed OECD markets. This will afford long-term strategic support for Reintel.
  • KKR’s extensive experience investing in critical infrastructures in Spain and across the world will allow Reintel to accelerate growth by harnessing multiple business opportunities in the years ahead, such as the roll-out of 5G.

This transaction represents a key milestone in Red Eléctrica Group’s 2021-2025 Strategic Plan, which provides for the integration of partners into certain strategic assets to allow the Group to harness growth opportunities and optimise the capacity of its telecommunications businesses to generate value.

The transaction will enhance Red Eléctrica Group’s financial capacity with a view, among other objectives, to rolling out its 2021-2025 Strategic Plan, which is geared primarily towards driving the energy transition by developing the transmission grid infrastructure required in line with the 20212026 Plan.

Roberto García Merino, CEO of Red Eléctrica Group, said: “Following an extremely thorough research process, we are delighted to have reached an agreement with KKR, which will be a highly prestigious, long-term strategic partner to the Group going forward. This agreement clearly underscores the value of the Group’s telecommunications activity and will support its future development, reinforcing the essential services we provide to society.”

Oleg Shamovsky, Managing Director and Head of Core Infrastructure in Europe at KKR, commented:

“This is a very important strategic partnership for KKR alongside a highly respected blue chip

Spanish corporate. We have been following Reintel’s development for many years and are delighted to have the opportunity to invest in this critical telecommunications infrastructure company, and bring to bear KKR’s capabilities and experience in the sector as we strategically partner with Red Eléctrica”.

The transaction is subject to customary conditions including the applicable regulatory approvals and is expected to close in Q2 2022.

UBS and Barclays acted as financial advisors to Red Eléctrica Group and Garrigues as legal advisor.

About Reintel

Reintel is the leading dark fibre infrastructure operator in Spain. The company has been operating in the telecoms infrastructure business since 1997 and was incorporated by GRE as a separate entity in 2015. The company commercialises a >52,000km network and sites along Red Eléctrica de España’s electricity transmission network as well as Adif AV’s fibre optic network. Reintel offers a full suite of wholesale dark fibre services to its customers, which include the main telecommunication operators and utilities in the Spanish market, among others.

About Red Eléctrica Group

Red Eléctrica Group is a holding company whose main business is the operation and management of electricity transmission lines. The group’s parent company is Red Eléctrica Corporación, a listed company owning several subsidiaries, Red Eléctrica de España being the Group’s main company. Red Eléctrica de España is the sole distributor and operator of the Spanish electricity grid and is responsible for the distribution of electricity and operation of the electricity grid in Spain. The company manages and operates over 49,000 km of high voltage lines with very high quality service levels. The Group also manages and leases telecommunications infrastructure through its subsidiaries Hispasat and Reintel.

About KKR

KKR is a leading global investment firm that offers alternative asset management and 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 The 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 and on Twitter @KKR_Co.


Media Contacts


Red Eléctrica Group

Eva Santiago

M: +34 681 226 052



Javier Curtichs, Tinkle

T: +34 91 702 10 10 / M: +34 629 22 40 63

Categories: News


CVC Credit supports Arrow’s ongoing M&A strategy by backing its acquisition of Circle

CVC Capital Partners

CVC Credit is pleased to announce that it has strengthened its partnership with Arrow Business Communications (“Arrow”), by providing incremental financing to support its acquisition of IT services provider Circle IT Limited (“Circle”). This is the eighth in a series of add-ons completed by Arrow and backed by CVC Credit.

CVC Credit has backed Arrow and its private equity sponsor, MML Capital Partners through its European Direct Lending Strategy since January 2020. Through this strategy CVC Credit focuses on lending to performing European medium and large companies, with a focus on the senior secured piece of the capital structure.

Arrow provides business critical telephony, data, IT and energy solutions to the public and private sectors. The business has a loyal and diversified customer base, operating across a wide range of industry sectors. The business has grown strongly in recent years through a combination of organic and acquisition-led growth.

Circle is a fast growing, one-stop-shop providing technical IT focused design, consultancy and implementation services to public sector and education players. Its customers include large Enterprise-scale public sector clients and midmarket private sector clients, with a focus in the Higher Education, Further Education and Local Government markets. Circle is the third add-on that Arrow has completed in recent months, following the acquisitions of Pescado and Aimes.

Andrew Davies, Partner and Co-Head of Private Credit at CVC Credit, commented: “CVC is delighted to continue to support Arrow’s ambitious growth strategy. Circle’s impressive growth, strong business model and long-term customer relationships, especially in education and the public sector, are an excellent fit with Arrow’s existing businesses.”

Amar Shanghavi, Investment Director at MML, noted: “This is a transformational acquisition as Circle is a high growth business of scale that has been able to unlock an exciting customer base through having market-leading expertise, particularly on the Microsoft stack. The combined business is now well-placed to continue to deliver strong growth. Thank you to CVC Credit Partners for their unwavering support of the business.”

Categories: News


Inmarsat shareholder group supports combination with Viasat to create a new global communications innovator


The shareholder group of Inmarsat (“Inmarsat” or the “Company”) – which comprises Canada Pension Plan Investment Board (“CPP Investments”), Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”), Warburg Pincus LLC (“Warburg Pincus”) and funds advised by Apax Partners LLP (“Apax”), (together, the “Consortium”) acting through their jointly-owned entity, Connect BidCo – today welcomes the announcement of a definitive agreement between Viasat, Inc. (NASDAQ: VSAT) (“Viasat”) and the shareholders of Inmarsat to combine and create a leading global communications innovator with enhanced scale and scope to affordably, securely and reliably connect the world.

The proposed combination integrates two businesses headquartered in the United Kingdom (“U.K.”) and United States, respectively, which together generate $4.1 billion in annual revenues[1] and operate a premier fleet of 19 in-orbit satellites with 10 more spacecraft under construction for planned launch in the next three years. It brings together two organisations with highly complementary technology assets, resources, capabilities and service portfolios.

Together, Viasat and Inmarsat are positioned to deliver an improved communication offering to customers globally. The combined business will have the resources to accelerate innovation, delivering enhanced quality of service (speed, bandwidth, flexibility, reliability, low latency, coverage, security), product choice, and greater value to existing and new customers. Together, Viasat and Inmarsat will enable the availability of advanced new services in mobile and fixed segments, driving greater customer choice in broadband communications and narrowband services (including Internet of Things or “IoT”).

The Consortium has accepted Viasat’s offer for the entire ordinary share capital of Inmarsat and will retain a significant minority stake in the combined company. Under the terms of the agreement, Inmarsat shareholders will receive $4.0 billion composed of $850 million in cash, subject to adjustments, and approximately 46.36 million newly issued Viasat shares, which represent a 37.5% ownership on a fully diluted basis, valued at $3.1 billion, based on the closing price of $67.00 per Viasat share on November 5, 2021.

The Consortium expects the combined company to build on the strategic and operational progress achieved at Inmarsat to date, and by remaining significant minority shareholders, it is backing a transaction which presents strong industrial logic. Under the Consortium’s ownership, Inmarsat has invested to enhance its go-to-market, product and network capabilities, including the recent launch of GX-5 and the upcoming launches of the I-6 satellites serving the Company’s L-band business for the next 15 years.

Inmarsat has an exceptional presence in the growing global mobility segment and is at the forefront of network design, including its recently announced multi-dimensional mesh network. The Company is preparing to expand its global network later this year with its most powerful and advanced commercial communications satellite ever.

Viasat plans to build on Inmarsat’s presence in the U.K. and is committed to preserving and growing the investment of the combined company in U.K. space communications, as well as supporting the recently published National Space Strategy. The combined company will cooperatively engage with the U.K. government with a view to operating in the U.K. consistent with the commitments previously made by Inmarsat/Connect BidCo and expects continued constructive engagement across the U.K.’s thriving innovation ecosystem. It further intends to work closely with the U.K. government to bring additional space capabilities and other advanced technologies to the country as well as long-term, highly skilled engineering and related jobs for U.K.-based employees. Viasat plans to preserve and grow Inmarsat’s London headquarters, as well as its footprint in Australia and Canada and across Europe, the Middle East and Africa and Asia Pacific.

Rajeev Suri, Chief Executive Officer of Inmarsat, said: “I am pleased our shareholders have supported a combination that enables Inmarsat to join forces with Viasat, a recognized global innovator in space and broadband communications. With our shareholders backing, Inmarsat has successfully returned to strong growth, weathered the pandemic and renewed its technology capabilities. I want to thank our shareholders for enabling Inmarsat to enter this transaction from a position of strength, as well as for their vote of confidence in the combination by becoming equity holders in the combined group.”

The transaction is subject to customary closing conditions including Viasat shareholder approval and regulatory approvals.



Categories: News


Ardian to acquire Míla, Iceland’s largest telecoms infrastructure company

25 October 2021 Infrastructure Iceland, Reykjavik

Síminn and Ardian reach an agreement for the acquisition of a 100% in Míla, the largest telecommunications infrastructure service provider in Iceland
Alongside Ardian, Icelandic pension funds will have the opportunity to invest in Mila

Ardian will support Míla on its path to becoming a fully independent wholesaler provider offering best-in-class network access with a focus on accelerating 5G deployment and further fibre roll-out in rural areas

Míla complements Ardian Infrastructure’s global portfolio of diversified and essential infrastructure investments in telecommunications, energy and transportation

Reykjavik, Frankfurt, Paris, 25th October 2021 – Ardian, a world-leading private investment house, announces the acquisition of a 100% stake in Míla ehf. (“Míla”), the largest integrated telecommunications network in Iceland, from Síminn Group (“Síminn”), Iceland’s leading telecommunications operator. Míla represents Ardian Infrastructure’s sixth investment in the Nordic region, its first in Iceland, and its fourth investment in the telecommunications sector, and complements Ardian’s global portfolio in terms of geographic and sector diversification.

Míla is Iceland’s largest telecommunications infrastructure company and owns a comprehensive network comprised of fixed broadband, mobile access and backhaul covering the entire country. This transaction is of unique significance in the telecommunications sector, given the current national owner is selling the entire collection of digital infrastructure, including both active and passive equipment. Ardian will support Míla’s efforts to enhance the country’s connectivity through substantial investments that will enable the roll out of additional fibre and 5G technology.

Gonzague Boutry, Managing Director in the Ardian Infrastructure team, commented: “We are very proud to have secured this unique investment, which is a perfect example of Ardian’s vision and leadership in telecommunications infrastructure. We believe that this acquisition, which comprises an entire integrated network, including passive and active equipment, will pave the way for similar transactions within the telecommunications industry.”

Síminn will remain Míla’s long-term anchor tenant to ensure its clients continue to receive best-in-class services. Post separation, Míla will become the leading platform for wholesale services in Iceland.

Orri Hauksson, CEO of Síminn said: “We are delighted to have signed this transaction with Ardian as a buyer of Mila, but more importantly, as a long-term infrastructure partner. Síminn will continue to be a strategic customer, and Míla will now become fully independent with an opportunity to flourish on its own.”

“To be recognised by a world-leading private investment house is evidence of the strength of our business,” said Jón Ríkharð Kristjánsson, CEO of Mila. “At the same time this is an exciting turning point for Míla.  With Ardian Infrastructure‘s support, Mila as an independent infrastructure provider with holistic service offerings can help to enhance the competitiveness of Iceland‘s telecommunications market. Ardian‘s financial support, experience and knowledge will enable us to develop our network even further and fulfill our mission to connect Iceland to the future.

“Alongside Ardian, several Icelandic pension funds will have the opportunity to invest in Míla.” Dr. Daniel von der Schulenburg, Managing Director and Head of Ardian Infrastructure for Germany, Benelux and Northern Europe , said: “We are excited to expand into Iceland accompanied by our local partners. The Nordic countries are a core region for the Ardian Infrastructure team, with strong fundamentals and attractive investment opportunities. For us, Míla is a long-term investment and a platform for growth. We intend to invest continuously into Iceland’s coverage and look forward to continuing to deliver top quality service and connectivity solutions. We will work together with Mila‘s management team to build an even more progressive electronic communications company.”

This transaction is yet to receive clearance from local competition authorities. Ardian does not own any competing or overlapping businesses with Míla in Iceland or in the Nordic countries.



Ardian is a world-leading private investment house with assets of US$114bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 800 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.



Míla is the largest telecom infrastructure company in Iceland providing comprehensive end-to-end services in all areas of digital infrastructure. Mila’s network is comprised of fixed copper and fiber access, backbone and connectivity, as well as active equipment across a nationwide footprint. Míla was established in 2007 as the sole infrastructure entity of the publicly-listed telecommunications incumbent Síminn. Míla nowadays provides critical telecommunication services such as access to its fiber, mobile and backhaul network as an open access wholesaler to both Síminn and third party operators.

Press contact


Headland VIKTOR TSVETANOV +44 207 3435 7469

Categories: News


Ardian acquires Adamo, representing its first investment in the telecommunications sector in Spain



Ardian Infrastructure reaches an agreement with EQT to buy 100% of the fibre optic operator Adamo, with more than 1.8 million homes covered by its network.
Ardian reinforces its interest in Spain as a strategic market and will support Adamo’s management team to boost the growth of its project, focused on rural areas with low internet penetration.

Madrid, 11 October 2021- Ardian, a world leading private investment house, has agreed to acquire its first investment in the telecommunications sector in Spain. Ardian will acquire from EQT 100% of Adamo, one of the fastest growing fibre optic operators and platforms in this market, focused on rural areas and supported by an open access wholesale business model.
Ardian will work alongside Adamo’s management team, who will reinvest in Adamo, to continue to drive its ambitious growth plan.
Adamo has an existing footprint of c.1.8m homes covered, serving c.250k subscribers over 27 provinces across Spain. Together with Ardian’s support, Adamo will continue to drive the development of its project with the organic expansion of its network and analyzing opportunities for the acquisition of new networks. Adamo aims to reach 3.2m homes and expands its backbone network to more than 11,000 kms in the coming years. Its strategy is to deploy its network in rural areas where there is virtually no high-speed internet access, contributing with its services to bridge the digital gap.
Adamo has its own coverage in more than fourteen autonomous communities in Spain and also provides connectivity services through its FTTH network to four of the main operators in the country and to more than 160 local operators.
Juan Angoitia, co-head of Ardian Infrastructure in Europe, said: “We are very pleased to be able to announce our first investment in the telecommunications sector in Spain. The Spanish market remains very attractive for us. Our focus will now be on working together with the Adamo team to create value for the company and all its stakeholders, while at the same time helping to address the serious problems that rural areas in Spain face and boosting their economic and social development.”
Martin Czermin, CEO of Adamo, has highlighted the fit that Ardian has with the company’s project: “We are proud to incorporate a partner like Ardian that brings a great experience in the sector, a deep knowledge of the market and a great sensitivity towards our contribution to society. Their support comes at a key moment to be able to continue driving Adamo’s growth both organically and inorganically.”
Ardian Infrastructure strategy with this operation will be to provide the most efficient telecommunications service throughout the national territory, and in particular in rural areas that currently do not have high-speed Internet, thus providing these areas with an element for their development.
The telecommunications sector is a priority in the strategy of Ardian Infrastructure which, through the funds it manages, has a 30.2% controlling stake in INWIT, Italy’s leading tower operator, and a 26% stake in EWE, one of Germany’s largest utilities and a leading provider of telecommunications services.
The closing of the transaction is subject to the satisfaction of customary regulatory and other approvals.


Ardian is a world-leading private investment house with assets of US$114bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 800 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.


Adamo is the fastest growing and #1 open access rural FTTH platform in Spain with a unique nationwide footprint covering 1.8 million homes and providing fixed broadband and mobile services to approximately 250,000 retail and wholesale subscribers. Adamo has a highly dedicated customer focus and provides high-quality and high-capacity services at competitive prices. The Company currently employs over 300 people and is headquartered in Barcelona, Spain.




Categories: News


EQT Infrastructure and Stonepeak to acquire DELTA Fiber

  • EQT Infrastructure and Stonepeak to acquire DELTA Fiber, a leading owner and operator of fiber-to-the-home telecom infrastructure in the Netherlands
  • EQT Infrastructure and Stonepeak are committed to investing significantly into the continued digitization of the Dutch society by accelerating nationwide fiber-to-the-home connectivity to B2C and B2B customers in suburban and rural areas of the country
  • DELTA Fiber will benefit from EQT and Stonepeak’s combined expertise in digital infrastructure and a strong industrial board. Together, the parties are committed to support DELTA Fiber and its management’s ambition to connect two million Dutch households to fiber by 2025

EQT and Stonepeak are pleased to announce that EQT Infrastructure V (“EQT Infrastructure”) and Stonepeak have agreed to acquire DELTA Fiber (the “Company”) from EQT Infrastructure III. Following the closing of the transaction, each party will hold a 50 percent stake in the Company and co-control DELTA Fiber through a strong industrial board.

Headquartered in Schiedam, the Netherlands, DELTA Fiber provides high-speed broadband, TV and fixed and mobile telephony to Dutch households and businesses connected to its superior fiber-to-the-home (“FTTH”) network. DELTA Fiber owns and operates approximately 50,000 km fiber-based network infrastructure that connects approximately 900,000 households and businesses across the Netherlands. The Company employs approximately 600 people and was established as DELTA Fiber in 2018, following a combination of DELTA and CAIW, which were acquired by EQT Infrastructure III in February 2017 and January 2018, respectively.

With 20,000 new connections per month, DELTA Fiber today is one of the largest and fastest growing fiber companies in the Netherlands and is on its way to reaching one million connections by the end of 2021. DELTA Fiber benefits from a rapid growth in data consumption and an increased demand for fast and stable internet. The Company’s new network rollout will be based on the latest fiber technology (XGS-PON) that enables speeds up to 10 Gbps. This is the prelude to its 25G-PON technology that enables speeds up to 25 Gbps.

DELTA Fiber will benefit from EQT’s and Stonepeak’s significant combined expertise in the digital infrastructure sector and vast track record in fiber rollout across the Netherlands and Europe. Both parties are committed to investing significantly in the continued digitalization of the Dutch society by accelerating nationwide B2C and B2B FTTH connectivity in suburban and rural areas. Moreover, the Company’s fiber broadband is more sustainable and energy efficient than the legacy networks, with approximately 40-60 percent lower energy consumption.

Together, EQT Infrastructure and Stonepeak will support DELTA Fiber and its management team in its ambition to reach a footprint of two million fiber connections by 2025, thereby covering a quarter of the country. The Company will also be supported by a strong advisory board with seasoned industry experts who possess broad expertise within digital infrastructure and FTTH rollout.

Matthias Fackler, Partner within EQT Infrastructure’s Advisory Team, said, “We are deeply impressed by DELTA Fiber’s management and employees’ strong performance over the past few years. EQT Infrastructure is excited to support their continued journey of digitizing the Netherlands by providing high quality broadband infrastructure to Dutch households and businesses. EQT Infrastructure shares this vision with Stonepeak whose vast experience in the digital infrastructure space makes them an ideal partner to support DELTA Fiber in its next phase of evolution and growth.”

Brian McMullen, Senior Managing Director at Stonepeak, said, “Stonepeak has long recognized the mission critical nature of broadband in today’s society and we look forward to working with Marco and the team to accelerate the additional rollout of DELTA Fiber’s network across the Netherlands. We are delighted to partner with a like-minded peer in EQT Infrastructure on this transaction, which will accelerate DELTA Fiber’s ability to connect households throughout the country with reliable broadband.”

Cyrus Gentry, Managing Director at Stonepeak, added, “DELTA Fiber, with its unique asset base and industry-leading management team, represents a compelling investment opportunity that will complement Stonepeak’s existing global portfolio of residential broadband-focused platforms.”

Marco Visser, CEO of DELTA Fiber, said, “Two leading international investors joining DELTA Fiber confirms our success in recent years. That EQT is choosing to invest in our company again, together with Stonepeak, shows confidence in our ambitious plans for the future. Together they provide us with a solid foundation for further growth.”

The transaction is subject to customary conditions and approvals. It is expected to close in December 2021. With the acquisition of a stake in DELTA Fiber, EQT Infrastructure V is expected to be 60-65 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).

EQT Press Office,, +46 8 506 55 334
Stonepeak, Kate Beers, +1 646-540-522

About EQT
EQT is a purpose-driven global investment organization with more than EUR 71 billion in assets under management across 27 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

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About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with over $39 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, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications and digital infrastructure, transport and logistics, water, energy transition, and power and renewable energy.

About DELTA Fiber
DELTA Fiber is one of the fastest growing fiber companies in the Netherlands. About 900,000 addresses throughout the Netherlands are already connected to the DELTA Fiber network, with around 20,000 new connections being added every month. DELTA Fiber’s ambition is to provide as many households and companies as possible with access to fast internet. And to grow to two million connections by 2025.

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Categories: News


Healthcare innovator SDB Group unveils three new software acquisitions

Main Capital Partners

The Hague, 16 September 2021 – Healthcare innovator SDB Group acquires three Dutch software companies with the support of software investor Main Capital Partners. With the acquisitions of CPM4Care and Infent, which were signed in July and September, SDB Group takes a leading position as a provider of Business Intelligence (BI) solutions for the healthcare industry. In addition, with the acquisition of KindPlanner, SDB Group positions itself strategically in the childcare market. The expansion of SDB Group is in line with its ambition to become the market leader in software solutions for the Dutch healthcare and welfare sector. COO Vincent van Staalduinen: ‘We want to unburden the healthcare professional with innovative software, which is best-of-breed and best-of-suite.’ 

SDB Group offers a total package of cloud-based solutions for the healthcare sector, including software for HR, planning, payroll, electronic client records (ECD), e-learning and business intelligence (BI). SDB Group, which is 45 years old, strongly believes in the importance of data science to improve the healthcare sector. To this end, Reports, a provider of data analytics software, was acquired in 2019. Woerden-based CPM4Care strengthens SDB Group’s BI arsenal with various tools to improve the business performance of healthcare institutions, such as a healthcare dashboard and a budget planning tool. The Nieuwegein-based company Infent is specialised in BI-solutions for disabled care, elderly care and revalidation care, and is strong in forecasting, KPI tooling and master-data management.

Market leader in Business Intelligence for healthcare

‘By combining the strengths of these companies, we not only take a leading position in BI, but we also build on our big data and data science strategy’, explains Vincent van Staalduinen, COO of SDB Group. Jeroen van Ree, co-founder of Infent, shares this vision. ‘Together with SDB Group and CPM4Care we can develop more innovative BI-solutions for healthcare. With this, we are taking a meaningful step towards data-driven healthcare delivery.’ Marcel Brockhoff, Director of CPM4Care, emphasizes the added value for healthcare institutions. ‘The combination of CPM4Care, SDB Group and Infent allows us to help healthcare institutions even better in fulfilling the requirements in terms of reporting and make valuable healthcare data accessible.’

SDB Group positions itself in the childcare market

With the acquisition of KindPlanner, SDB Group strengthens its position within the welfare market. With the arrival of KindPlanner, SDB Group is the only player in the market that can offer a complete, integrated and user-friendly software solution to childcare companies. KindPlanner CEO Vincent van Nimwegen: ‘SDB Group had everything KindPlanner didn’t, and vice versa: they have software for payroll and business intelligence, we offer child planning and invoicing software and a portal to communicate with parents, which over 100 childcare companies are already using.’

Unburdening care professionals

SDB Group has set itself the goal of innovating the conservative healthcare sector and making it more efficient. ‘This requires deep knowledge about healthcare, which we have. With the support of Main Capital we also have the capital to grow’, says COO Vincent van Staalduinen. SDB Group aspires a best-of-breed and best-of-suite approach: the best specialized software solutions, which are seamlessly integrated. No fragmentation of services or switching between separate programs, but a time-saving total solution. The ultimate goal? ‘Care professionals are relieved of their administrative burden with innovative software, and the time saved is spent where it is needed most: on the client’, says Van Staalduinen.  

About SDB Group

SDB Group develops and supplies specialist ICT solutions for the healthcare sector. In 2018, software investor Main Capital acquired a majority stake in the company, which was then known as SDB Ayton. Since then, SDB Group has made four acquisitions, aimed at obtaining the widest possible range of software services. The first acquisition was Cormel (ECD software), followed by Reports (data analytics for the healthcare sector), The Competence Group and CSS Breda (e-learning for the healthcare sector). In 2021, KindPlanner, CPM4Care and Infent were added. Turnover tripled as a result of this buy-and-build strategy. The number of employees grew from 70 in 2018 to 220 after the latest acquisition.

About Main Capital Partners

Main Capital Partners is a leading software investor in the Benelux, Dach and the Nordics. Main has almost 20 years of experience in strengthening software companies and works closely together with management teams of its portfolio companies as a strategic partner, in order to realize sustainable growth and build excellent software groups. Main counts over 40 employees and has offices in The Hague, Stockholm and Düsseldorf. In September 2021 Main has over 1 billion euros under management and invested in more than 120 software companies. These companies create jobs for approximately 5,000 employees.


For more information, please contact:  

Sonja Hartgring (Manager Marketing & Communications)
+31 (0) 6 24 22 71 06

Categories: News