Tag Archives: Telecom

Bridgepoint acquires Ports Group, a tech-enabled provider of IP management and brand protection solutions

Bridgepoint
  • Ports Group serves long-standing customer relationships built on a reputation for high-quality service and an attractive full-service offering.
  • The company has delivered impressive financial performance, achieving 27% revenue growth since 2018.
  • Bridgepoint will support Ports Group in its next phase of growth, with a focus on international expansion, continued service and product expansion, as well as leveraging M&A opportunities.

 

Bridgepoint has today announced that Bridgepoint Development Capital IV (“BDC” IV), a fund focused on investing in mid-market growth businesses, has agreed to make a majority investment in Ports Group, a leading provider of IP management and brand protection, headquartered in Sweden.

As part of the transaction, Priveq, a Swedish private equity firm, will sell its stake in Ports Group, where management and key employees within the group will reinvest alongside Bridgepoint. Financial terms of the transaction were not disclosed.

Ports Group operates a ‘one-stop-shop’, tech-enabled brand protection platform, delivering vital IP solutions across domain management, trademark management and web security. Their client base spans across SMEs to major enterprises.

Bridgepoint estimates that the global Domain and IP protection market is valued at some €6bn, with an annual growth rate of 6%. This growth is driven by increasing awareness of the value of IP assets and as the market shifts from traditional legal services to tech-enabled solutions.

Ports Group is well-positioned to capitalise on this large and growing market. On the back of a strong technology platform, full-service offering, loyal customer base and strong track record of financial performance, the company is expected to continue to deliver long-term revenue growth and set the standard with industry-leading offerings and service delivery.

The partnership builds on Bridgepoint’s growing track record and expertise within tech-enabled services, with other recent investments including LanguageWire, a leading language service provider and Achilles, a supply chain risk management provider.

Magdalena Bonde, CEO at Ports Group said:

“We are excited to have Bridgepoint on board as our new majority shareholder. We are confident that they will be a strong partner for Ports Group as we embark on our ambitious growth and development journey going forward. In a short period of time, Ports Group has established a European footprint, offering strong capabilities to serve clients on an international stage. We are pleased to have attracted Bridgepoint, who believes in our unique model, our strategic direction and our team.”

Johan Dahlfors, Partner and Head of the Nordics at BDC said:

“We are thrilled to be partnering with Ports Group, a distinguished leader in IP management and brand protection in the Nordic region with a growing footprint across Europe. Their broad service offering, tech-driven approach and platform addresses an underserved demand in the market. This means they are well-positioned which for long-term growth and potential consolidation opportunities in a fragmented market. With an ambitious vision for expansion across products and geographies and a strong international team, Ports Group is poised to reshape the landscape for digital brand protection and further its reputation as a leader.”

The transaction closed on 30 August 2023. It marks the twelfth platform investment by BDC IV and its second in the Nordics.

Ports Group was advised by EY Corporate Finance and Setterwalls Advokatbyrå.

Bridgepoint was advised by Lincoln International (Financial Adviser), Vinge (Legal Adviser), Alvarez & Marsal (Financial, Tax Due Diligence and Tax Structuring), EY-Parthenon (Commercial and Technology Due Diligence), Anthesis Group (ESG Due Diligence) and Marsh (Insurance Due Diligence).

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DIF’s portfolio company ruhrfibre signs EUR 120m senior debt financing

DIF

DIF Capital Partners (via its DIF CIF III fund) is pleased to announce that its portfolio company ruhrfibre has closed on a senior debt financing in support of the buildout of a large-scale fibre network in Essen (Germany), targeting around 150,000 households.

DIF announced its investment in ruhrfibre in November 2022, alongside project developer metrofibre and the City of Essen. The project is a game changer to the city in the industrial Ruhr-area in terms of its economic advancement and will accelerate Essen’s development into a smart city.

The financing package comprises senior loans totalling EUR 120m that are provided by a club of senior lenders comprising ING, Kommunalkredit Austria and SEB. There is a further uncommitted accordion facility of EUR 40m to expand the financing. The facilities are structured as a green loan with a dedicated green use of proceed for the financing of climate friendly broadband technology, and as such underpin DIF’s strong commitment to promote sustainable infrastructure.

The successful financing provides further momentum to ruhrfibre’s significant progress in bringing fibre to Essen: In June, ruhrfibre started the construction work in the first two roll-out areas in Essen. “With full financing, the project is now significantly picking up speed”, says Christopher Rautenberg, Managing Director at metrofibre and ruhrfibre. “New roll-out areas will follow in the next few months to meet our goal of connecting 150,000 households, businesses, and public institutions to the fiber-optic network.”  DIF and ruhrfibre were advised by ING, Hogan Lovells, Arthur D. Little and Riskbridge. The lenders were advised by White & Case.

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with ca. EUR 17 billion of AUM. DIF was founded in 2005 and has built a leading position in managing mid-market investments, primarily in Europe, North America and Australia.

DIF follows two strategies: its traditional DIF funds invest in lower risk mid-sized infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as PPPs and concessions. The firm’s CIF funds invest in small to mid-sized companies that will thrive in the new economy. These companies are typically active in the digital, energy transition and sustainable transportation sector.

With a team of over 225 professionals in 11 offices, DIF Capital Partners offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto.

For more information, please visit www.dif.eu

Contact DIF Capital Partners: press@dif.eu

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Wireless Logic acquires Webbing

Montagu

Wireless Logic, the leading global IoT connectivity provider has acquired Webbing, a global Mobile Virtual Network Operator (MVNO) providing connectivity for Enterprise Mobility and IoT applications.

Founded in 2010, Webbing provides a leading-edge connectivity service for global customers across sectors including Enterprise Mobility, Automotive and Logistics. It offers a global carrier network that delivers best in class coverage, policy control and enforcement, including compliance with any permanent roaming restrictions, as well as security and other features, all through a single global SIM.

Webbing are market leaders in eSIM technology and have pioneered the shift towards the new GSMA eSIM standards for IoT (SGP.32). Its WebbingCTRL solution leverages SM-DP+ provisioning and enables remote, automatic profile swaps without user intervention. Its fallback module is fully automatic with no MNO actions required ensuring continuous connectivity– a common challenge facing IoT deployments. It also provides centralised management of eSIMs and profiles, simplifying IoT connectivity, reducing costs, and improving time to market. This allows enterprises to leverage connected devices while maintaining full control of their connectivity deployments.

“Webbing exhibited remarkable foresight by recognising the constraints of existing eSIM standards for IoT devices and anticipating enterprise demand for efficient eSIM provisioning solutions,” said Oliver Tucker, CEO of Wireless Logic. “As well as complementing the market segments that Wireless Logic addresses, this acquisition will expand our technology capabilities and offering, particularly as the new GSMA IoT eSIM standard gains prominence. Furthermore, Webbing’s local presence and partnerships in regions including the US and Asia, will further enhance our ability to deliver a future proof, flexible and fully redundant global connectivity through a single SIM.”

As well as complementing the market segments that Wireless Logic addresses, this acquisition will expand our technology capabilities and offering, particularly as the new GSMA IoT eSIM standard gains prominence.

Oliver Tucker, CEO, Wireless Logic

“We are excited for the path ahead,” said Noam Lando, Co-Founder and CEO at Webbing. “Since our foundation, we have been committed to meeting the needs of global IoT by developing progressive SIM technology, powerful management platforms and a robust network. We believe that device owners deserve tailor-made, rock-solid, future-ready connectivity within their control. With the support of Wireless Logic, we are excited to build on this vision, delivering enhanced benefits to our customers and teams worldwide.”

We are excited for the path ahead. With the support of Wireless Logic, we are excited to build on our vision, delivering enhanced benefits to our customers and teams worldwide.

Noam Lando, Co-Founder and CEO, Webbing

This agreement follows Wireless Logic’s recent acquisitions of IoThink Solutions, Mobius Networks, Jola and Blue Wireless, continuing its strategy of global expansion, service offering enhancement and new routes to market.

Wireless Logic and Montagu were advised by Rothschild & Co. on this transaction. Webbing was advised by Bank of America.

 

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KPN ventures invests in global esim marketplace platform airalo

Kpn Ventures

KPN Ventures announced today that it has joined the series B financing round in Airalo, the world’s first and largest eSIM store. Airalo and KPN Wholesale are working together on a partnership to boost growth.

Airalo is a global eSIM marketplace platform for travelers to purchase eSIMs, providing connectivity at local prices. Customers can download an affordable data plan directly on their phone, without the hassle of exchanging a physical SIM card, resulting in a contact-free and seamless experience. Airalo solves the pain of high roaming bills and security issues of unsafe public WiFi networks by providing access to connectivity in over 200 countries and regions. Airalo is on a mission to provide global data connectivity for all travelers around the world with its millions of users already and global team spanning over 44 countries, Airalo is well on track.

“Airalo’s impressive eSIM marketplace platform makes them destined to further grow their global number one positioning in connectivity for travelers” says Michel van Wissen, EVP Wholesale, “We’re very excited to work together and support them in their international successes.”

Airalo receives $60M of funding in the Series B financing round. The round is led by e& Capital with participations from Antler Elevate, Rakuten Capital, Singtel Innov8, Peak XV (formerly known as Sequoia Capital India and SEA), T Capital, Orange Ventures, Telefónica Ventures, Go Ventures, I2BF Global Ventures and others.

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CapMan Infra’s portfolio company Valokuitunen Oy successfully closes a €400 million refinancing

Capman

CapMan Infra’s portfolio company Valokuitunen Oy successfully closes a €400 million refinancing

Valokuitunen Oy, a joint venture between CapMan Infra and Telia Company, is the largest fibre-to-the-home (FTTH) company in Finland. Valokuitunen Oy deploys fibre networks to residential neighbourhoods on a national scale. The funding sets the company up for the next phase of expansion in the Finnish market.

CapMan Infra has secured a financing package close to €400 million for Valokuitunen Oy, its portfolio company, of which €285 million is committed at closing. The debt package has been provided by a group of banks consisting of KfW, SEB, Société Générale, Crédit Industriel et Commercial, and NIBC. Valokuitunen Oy was advised on the financing by Rothschild & Co, Latham & Watkins, and Avance Attorneys.

Established in 2020 as a joint venture between CapMan Infra and Telia Company, Valokuitunen Oy’s open fibre network gives customers the opportunity to choose the network services and service providers they prefer. With a network that currently reaches over 120,000 households, Valokuitunen intends to expand its footprint to around 300,000 households by 2026.

“The funding gives Valokuitunen, the largest player in Finland in its sector, the opportunity to deliver on the next phase of growth of its fibre-to-the-home network across the country, which is largely built on already sold contracts. Finland has an ambitious national digital road map in which fast network connections for households and businesses are seen as key for advancing the digital transformation, and CapMan Infra and Valokuitunen Oy are involved in making this happen,” comments Harri Halonen, Partner at CapMan Infra.

“The volume of data traffic is growing exponentially. Households in Finland need better infrastructure to meet current and future demand. Optical fibre will answer this need as a long-lasting solution for decades. This financing will secure the build-out of our large portfolio of already made investment decisions and provides a basis for future expansion of the network. Our solution not only provides our customers with an excellent infrastructure, but also the possibility of selecting an internet service provider from various options now and in the future,” says Juho Ansio, CFO of Valokuitunen Oy.

For more information, please contact:

Harri Halonen, Partner, CapMan Infra, tel. +46 768 71 0062

Juho Ansio, CFO, Valokuitunen Oy, tel. +358 40 557 7223

About CapMan Infra

CapMan Infra invests in energy, transportation and digital infrastructure assets generating predictable cash flows. CapMan Infra is a dedicated and active owner seeking to drive operational improvements and offers tailored solutions to local infrastructure asset owners and partners in the Nordic countries. The team of twelve infrastructure professionals is based in Helsinki and Stockholm. CapMan Infra has two funds, one established in 2018 and one in 2022. In addition to the fund, the team also manages two investment mandates.

CapMan Infra is part of CapMan Group, a leading Nordic private asset expert with an active approach to value creation and over €5 billion in assets under management. CapMan’s objective is to provide attractive returns and innovative solutions to investors. We have set greenhouse gas reduction targets under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs approximately 190 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

About Valokuitunen

Valokuitunen is a fast-growing Finnish company building and rolling-out fibre networks to homes and businesses in residential areas nationwide. We provide reliable and sustainable fibre connections, on market terms, connected to Telia’s fibre-optic network (Avoin Kuitu), which allows customers to select services and service providers. Valokuitunen is a joint venture between CapMan Infra (60%) and Telia Company (40%) established in 2020. We employ over 100 professionals and approximately 300 people through partners. In 2023 alone we have invested €100 million in fiber networks in Finland. Learn more at www.valokuitunen.fi.

 

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DIF Capital Partners leads €250 million+ funding round to expand Valoo’s Finnish fibre rollout

DIF

Investment will bring fibre connectivity to 300,000 Finnish households

DIF Capital Partners (“DIF”) is pleased to announce that it is leading a debt and equity funding round worth in excess of €250 million for Valoo (Adola Oy), which will help it expand its optical fibre rollout to underserved regions and municipalities in Finland. DIF’s equity investment is made through its CIF III fund. The funding is a follow-up to the initial investment made by DIF’s CIF I fund which supported the first part of the growth trajectory of the company.

While DIF acts as the lead investor, the funding round is also backed by Tesi (Finnish Industry Investment Ltd) and other investors. Senior debt has been provided by a banking group of SEB, NORD/LB and NIBC.

The funding will allow delivery of long-awaited high-speed fibre connectivity to areas that to date have had to rely mainly on mobile connectivity for internet access. The package will bring fibre to over 300,000 households and secure close to 1,000 jobs within the company and the wider market.

Valoo builds and operates fibre-optic networks across Finland. It does not charge customers for the construction of network connections to their homes, instead basing its business model on long-term customer relationships to provide internet services.

Valoo is set to continue its evolution into Finland’s leading platform for fibre connectivity, thanks to its expanding footprint and a strong national brand. The investment will also help to create the conditions for a future wholesale fibre access market in Finland, strengthening consumer choice. This will allow multiple operators to connect to their consumers through a single infrastructure.

DIF Capital Partners is an independent global infrastructure fund manager and a leading investor in optical fibre rollouts, having funded major projects in Canada, Germany, France, the UK and the USA among others.

“Our follow-up investment in Valoo enables it to connect a much larger number of underserved areas in Finland to fibre broadband infrastructure,” says Willem Jansonius, Partner and Head of CIF Investments at DIF Capital Partners.

“Finnish households have long struggled to access state-of-the-art broadband connectivity, especially outside of major urban areas. That shortfall was highlighted during the lockdowns of the Covid-19 pandemic. This investment will provide a significant improvement to those people’s and communities’ ability to work and participate in the global digital economy.”

“DIF’s investment in Valoo further underscores our position as a major investor in the Finnish market and our continued focus on digital infrastructure across Europe and North America. It’s also a vote of confidence in the successful transformation of Valoo’s business over recent years.”

 

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with ca. EUR 16 billion of AUM. DIF was founded in 2005 and has built a leading position in managing mid-market investments, primarily in Europe, North America and Australia.

DIF follows two strategies: its traditional DIF funds invest in lower risk mid-sized infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as PPPs and concessions. The firm’s CIF funds invest in small to mid-sized companies that will thrive in the new economy. These companies are typically active in the digital, energy transition and sustainable transportation sector.

With a team of over 225 professionals in 11 offices, DIF Capital Partners offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto.

For more information, please visit www.dif.eu

 

Contact DIF Capital Partners: press@dif.eu

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KKR Invests in Perú’s First Open Access Fiber Optic Network to Bridge the Digital Divide and Increase Competition in the Market

KKR
  • Leading global investment firm KKR agrees to acquire a majority interest in PangeaCo and the fiber optic networks of Telefónica del Perú and Entel Perú
  • KKR plans approximately US$200 million of additional investment to accelerate expansion of ultra-fast digital infrastructure to more than double the network to at least 5.2 million homes passed across Perú by the end of 2026
  • KKR will own a 54% controlling interest in Perú’s first independent open access wholesale fiber optic network, with 36% owned by Telefónica Hispanoamérica and 10% owned by Entel Perú

LIMA, Peru & NEW YORK–(BUSINESS WIRE)– KKR, Telefónica Hispanoamérica, and Entel today announced agreements under which KKR will acquire a majority interest in PangeaCo and the existing fiber optic networks of Telefónica del Perú and Entel Perú to build Perú’s first nationwide open access wholesale fiber optics company with the mission to bring greater access to fiber optics connectivity across the country. The transaction will combine the existing fiber optic networks of PangeaCo, Telefónica del Perú, and Entel Perú into an independent company controlled by KKR. The newly formed network will be open access, allowing usage to all internet service providers for the first time. KKR plans to make approximately US$200 million of additional investment to more than double the ultra-fast fiber network from more than 2 million homes passed today to reach 5.2 million homes passed across 86 provinces by the end of 2026.

Under the terms of the agreement, KKR will acquire a controlling interest in PangeaCo, which will subsequently acquire the existing fiber optic networks of Telefónica del Perú and Entel Perú. Through the combination of these networks, KKR will establish ON*NET Fibra de Perú as the new name for the platform which will independently build and operate the nation’s largest fiber optic network with world-class quality standards. KKR will own a 54% interest in ON*NET Fibra de Perú alongside Telefónica Hispanoamérica, which will own 36%, and Entel Perú, which will own 10%.

The entire ON*NET Fibra de Perú fiber optic network will be open to use by all internet service providers, increasing competition in the wholesale market. Telefónica del Perú and Entel Perú will be anchor tenants on the expanded open access network, enabling both providers to reach a greater number of customers with ultra-high-speed offerings. The transaction does not impact the services provided by existing customers of PangeaCo, Telefónica del Perú or Entel Perú. Upon closing of the transaction, customers will benefit from the scale of the larger network.

In Perú, approximately 88% of households have mobile or fixed internet service, but less than 35% have access to high-speed fiber optic networks.1 KKR, as the controlling shareholder, intends for ON*NET Fibra de Perú to more than double the households reached by fiber optic network, including reaching municipal areas outside of Lima as well as middle- and low-income households. This transaction demonstrates continued investor confidence in Peruvian infrastructure and the commitment of the companies to contribute to the sustainable development of the digital connectivity in the country.

Today’s announcement builds on KKR’s success in expanding nationwide connectivity and increasing competition in Chile and Colombia. ON*NET Fibra de Chile has expanded access from 2.4 million homes passed to 3.7 million homes passed since KKR signed the acquisition in February 2021 and ON*NET Fibra de Colombia has increased homes passed from 1.2 million to 2.4 million since signing in July 2021.2 Both companies have attracted multiple internet service providers to utilize their open access networks.

KKR is making the investment through its KKR Global Infrastructure Investors III fund and plans to provide operational support to ON*NET Fibra de Perú through NEXO LatAm, a digital infrastructure business supporting KKR’s Infrastructure strategy across Latin America. KKR and NEXO LatAm have significant experience supporting the successful expansion of open access fiber optic investments.

The transaction is subject to regulatory approvals, including the approval of the Peruvian antitrust agency (INDECOPI).

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 and on Twitter @KKR_Co.

About Telefónica Hispanoamérica

Telefónica is one of the largest telecommunications service providers in Spanish America. The company operates under the Movistar trademark and offers fixed broadband connectivity -with FTTH solutions- and mobile services with 4G and 5G networks (the latter in Chile and Mexico), as well as a wide range of digital services for more than 110 million residential and business customers across the region. Telefónica Hispam offers its services in: Mexico, Colombia, Venezuela, Perú, Ecuador, Uruguay, Chile and Argentina.

About Entel

With more than 58 years of experience, Entel is a leader in technology and telecommunications with operations in Chile and Perú, where it has more than 20 million mobile subscribers. The company offers mobile and fixed connectivity services, as well as a wide range of digital and IT services in the consumer (B2C), business and large corporate (B2B) segments. In both countries it also provides wholesale and call center services. For all its services, it offers simple and efficient experiences, backed by a robust, state-of-the-art infrastructure and a solid brand image and customer service.

_________________
1 Sources: OSIPTEL “Residential Survey of Telecommunications Services” (December 2021) and Omdia Fiber Development Index 2022 (October 2022).
2 Figures as of December 2022.

Media Contacts:

For KKR:
Azerta (For KKR Peru):
Leslie Salas
lsalas@azerta.pe
KKR@Azerta.pe

For KKR Americas:
Miles Radcliffe-Trenner and Emily Cummings
media@kkr.com

For Telefónica:
Dulce Jiménez
prensa.hispam@telefonica.com

For Entel:
Press Contact (Entel Perú):
Estrella Malpica
emalpica@tocasociados.com

Investor Contact (Entel Chile):
Paula Raventós – Santiago Uauy
ir@entel.cl

Source: KKR

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Ardian acquires a 50% stake in MXT Holdings, a leading Mexican telecommunications infrastructure company

Ardian

Ardian enters into co-control of MXT alongside existing shareholder Mexico Infrastructure Partners (MIP), Mexico’s largest energy and infrastructure asset manager
• Multi-faceted deal marks Ardian’s first direct investment in Mexico

Ardian, a world-leading private investment house, today announced that the Infrastructure team has signed an agreement to acquire a 50% co-control equity interest in MXT Holdings (MXT), a telecommunications infrastructure company based in Mexico. Ardian’s investment will be used by MXT Holdings to support its asset acquisition completed in 2022 for ~200 towers and ~1,800 km of metro fiber previously owned by Telefónica, as well as strategic acquisitions which will materially increase MXT’s portfolio. The transactions will be funded using primary equity raised from Ardian and existing shareholder Mexico Infrastructure Partners (MIP), a leading asset manager in the infrastructure and energy sectors across Latin America. Going forward, Ardian will be 50/50 partners in MXT alongside MIP.

Closing of Ardian’s investment is subject to customary closing conditions, including obtaining required regulatory approvals.

Headquartered in Mexico City, MXT develops, acquires, owns and operates neutral-host communication infrastructure assets across Mexico, offering wireless and fiber services. As part of the transaction, Antoine Delaprée, Founder and CEO of MXT, will continue to head the company. Since 2015, and under Mr. Delaprée’s leadership, MXT and the management team have established a strong track record and key relationships with major telecom players.

With Ardian’s investment, MXT is positioned for compelling growth opportunities, including advanced greenfield fiber projects in areas of Mexico that currently lack long-haul connectivity and consolidation in the Mexican tower sector. With a population of 130 million and the second largest economy in Latin America, the Mexican market offers enormous opportunity for telecommunications growth. Furthermore, Mexico is the second largest trading partner to the US with increased nearshoring trends, which will benefit MXT.

“MXT is Ardian’s first direct investment in Mexico, continuing our opportunistic approach in Latin America and complementing our overall Americas Strategy. Its growing economy and dynamic telecommunications market gives us confidence in our ability to deliver strong risk-adjusted returns to our investors.” Stefano Mion, Co-Head of Infrastructure Americas, Ardian

“The Mexican telecommunications sector offers notable consolidation opportunities. Coupled with a growing middle class, increasing mobile penetration, and a standout management team, MXT is poised for meaningful expansion opportunities. We are also grateful to partner with Mexico Infrastructure Partners, a prestigious asset manager with deep local business expertise and a thorough understanding of this fast-growing market. We are excited about the next chapter of growth for MXT.” Michael Obhof, Senior Managing Director Infrastructure, Ardian

“We are glad to partner with Ardian Infrastructure, a global asset manager, widely recognized for its excellent track record. Ardian’s understanding of the infrastructure sector and in particular the telecom industry, will contribute to a more ambitious business plan for MXT and bring the company to the next level of growth.” Mario Gabriel Budebo, Partner and CEO, MIP

“MXT is thrilled with Ardian’s equity investment to pursue the continued growth of our digital infrastructure platform, and to drive the expansion of our footprint across Mexico at this unique time. We are grateful to have Mexico Infrastructure Partners’ support since 2018, and we are delighted to partner with Ardian, to leverage its impressive track record and global expertise in telecom infrastructure to accelerate the next stage of MXT’s expansion.” Antoine Delaprée, Founder and CEO, MXT Holdings

The transaction is expected to close in 2H 2023. It is the second transaction from the Ardian Americas Infrastructure Fund (AAIF) V. No additional financial details were disclosed.

Parties to the transaction

  • MXT Holdings

    • Financial advisors: BTG Pactual, BBVA
    • ernational and Mexican Legal: Greenberg Traurig

  • Ardian

    • Financial advisor: Rothschild & Co.
    • International Legal: Gibson Dunn
    • Mexican Legal: Galicia Abogados

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $150bn of assets on behalf of more than 1,400 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian is part-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 16 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.

At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT MEXICO INFRASTRUCTURE PARTNERS

Mexico Infrastructure Partners (MIP) is Mexico’s largest energy and infrastructure asset manager with $3.3bn assets under management and 28 investments across the infrastructure and energy sectors. MIP was founded in 2012 and has since raised 5 equity funds, 4 of which are in Mexico and 1 in Colombia, as well as 2 infrastructure REITs (FIBRAs) with the objective of investing in long-term productive projects. MIP through its EXI Funds, seeks to consolidate investments in core, core plus, and value-add infrastructure sectors across 8 platforms: roads, social, telecom, water, airports, ports, power generation and midstream. Each platform is managed by specialized teams under MIP, benefiting from the experience, synergies, and scale of its platforms and investments across multiple sectors and jurisdictions.

mexicoinfra.com

ABOUT MXT HOLDINGS

Founded in 2015 by CEO Antoine Delaprée, MXT Holdings is a diversified platform dedicated to owning and operating telecom infrastructure assets in Mexico. The company operates as a neutral-host solutions provider, focusing on two sector divisions: Wireless and Fiber Networks. As of June 2023, MXT’s assets are comprised of ~650 telecom towers, ~3,500 km of optic fiber networks and 11 indoor DAS systems.

mxtholdings.com

US Media Contact

ARDIAN

THE NEIBART GROUP Rachelle Gaynor

ardian@neibartgroup.com +1 631 278 2046

LATAM Media Contact

ARDIAN

LLORENTE Y CUENCA Fernando Aspillaga

faspillaga@llorenteycuenca.com

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Ardian and Adamo strengthen the company’s financing to consolidate growth in rural areas of Spain

Ardian

The 350 million euro increase in financing is in addition to the 600 million euros that Adamo secured in September 2021
• This financing will support the continuing extension of the operator’s fibre optic network to reach more than 3.4 million homes in rural areas of Spain
• Bank interest in the deal was 1.8 times oversubscribed
• Ardian became a leading shareholder in Adamo in 2022 to support the company’s growth in rural areas with poor broadband internet coverage

Ardian, a world-leading private investment house, and fiber optic operator Adamo are strengthening the company’s financing. Adamo, which has been majority owned by Ardian, has recently signed a €350 million extension to its financing. This is in addition to the existing €600 million financing secured by the company in September 2021, and includes an option to extend by a further €50 million, to reach a total of €1 billion through an uncommitted facility.

This agreement will enable Adamo to continue to grow its network organically, as well as by acquiring other networks, to reach 3.4 million homes in rural Spain in the next few years. This activity will consolidate its position as the leading and fastest-growing fibre optic operator in rural Spain.

The financing will also be used to continue the roll out a new fibre network across rural areas, which was initially supported in 2021 – 2022 by the Ministry of Economic Affairs and Digital Transformation’s Universalization of Digital Infrastructure for Cohesion (UNICO) programme. Adamo will also continue to contribute to bridging the digital gap through its high-speed internet services.

Since its initial investment, Ardian has worked closely with Adamo’s management team to achieve the company’s ambitious objectives and take advantage of growth opportunities in the telecommunications market.

Both this new financing plan and the initial financing secured in 2021, include a “sustainable financing” component, linked to the company’s contribution to reducing the digital divide, improving equality in employment and reducing greenhouse gas emissions.

The transaction was carried out by ING and Société Générale as financial advisors and is supported by a consortium of 11 banks with extensive experience in the financing of fibre optic and telecommunications projects: ING and Société Générale as Bookrunners and Mandated Lead Arrangers; ABN AMRO, HCOB, ICO, Infranity, KFW, Kommunalkredit and SMBC as Mandated Lead Arrangers; EDRAM as Lead Arrangers; and SCOR Investment Partners as Arranger.

Instituto de Crédito Oficial (ICO) and the German banks HCOB and KFW became the new lenders to Adamo. ING and Société Générale acted as financial advisors and Allen & Overy as legal advisor to the company. Clifford Chance acted as legal advisor to the banks. Apex acted as agent.

Evolution of Adamo

In recent years, Adamo has experienced exceptional growth, providing fibre to 2.5 million homes by the end of 2022, and being the first Spanish company to offer 1,000 Mbps fibre-optic services.

The company’s strategy is to roll out its network in rural areas where there is poor high-speed internet access and where other operators often cannot reach. As such, Adamo’s network is open to other operators and currently provides connectivity services via its FTTH network to four of the country’s leading operators and more than 200 local operators.

This unique deployment model, using agreements with local partners, enables it to minimise implementation costs and expand its network at a rapid pace, connecting 30,000 new homes in rural areas every month. Adamo currently has coverage in Catalonia, Cantabria, Castilla-La Mancha, Andalusia, Valencia, Navarre, La Rioja, Galicia, Madrid, Castilla-León, Extremadura, Asturias, Murcia and the Basque Country.

“The market’s enthusiasm and the high level of oversubscription to this financing underline the strength and relevance of Adamo’s business model. This new support will enable us to keep on growing and implementing our strategy to strengthen internet coverage in rural areas of Spain.” Martin Czermin, CEO, Adamo

“We are determined to keep working shoulder to shoulder with a strong management team that fully understands the current fibre needs of rural Spain. We are proud to enter into this new funding agreement which will enable Adamo to continue its strong commitment across the country and help bridge the digital divide where others are failing.” Juan Angoitia, Co-head of Infrastructure Europe, Ardian

ABOUT ADAMO

Based in Barcelona, Adamo is a fibre optic operator present in regional and local areas. Operating in Spain since 2007, the company focuses on rural areas. Adamo was the first operator in Spain to offer 1,000 Mbps fibre-optic services. Using its own infrastructure, Adamo offers internet, fixed and mobile telephony services to residential customers, as well as services to businesses and wholesalers.

adamo.es

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $150bn of assets on behalf of more than 1,400 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks and family offices worldwide. Ardian is part-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1050+ employees, spread across 16 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

Press contact

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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EQT Infrastructure to acquire a majority stake in Italy’s largest mobile network from Wind Tre

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EQT Infrastructure to acquire a majority stake in Italy’s largest mobile network from Wind Tre

  • EQT Infrastructure to acquire a 60 percent stake in newly created company which will own and operate the Italian telecom provider Wind Tre’s mobile and fixed network. The transaction gives the new company an enterprise value of EUR 3.4 billion
  • The Company will provide wholesale connectivity services to Wind Tre and other Italian mobile operators, becoming the country’s largest provider of mobile network coverage and capacity, and an essential part of its nation-wide digital infrastructure
  • EQT Infrastructure will invest in the Company’s network and pursue innovative growth opportunities to better serve the Italian digital ecosystem, while executing on its sustainability agenda

EQT is pleased to announce that the EQT Infrastructure VI fund (“EQT Infrastructure”) has signed an agreement to acquire a 60 percent stake in a newly created entity (the “Company”), which will own and operate Wind Tre’s mobile and fixed network infrastructure. Wind Tre’s current owner, CK Hutchison, will remain invested alongside EQT Infrastructure and own a 40 percent stake in the Company. The transaction gives the new company an enterprise value of EUR 3.4 billion.

There is a growing need for robust and reliable digital infrastructure all over Europe, accelerated by a surge in mobile data traffic, 5G densification of cell towers, IoT (Internet of Things), and new technologies. The Italian mobile network is in need for investments and expansion over the coming years to meet this increasing demand.

Following the carve-out from the Italian telecommunications provider Wind Tre, the Company will own and operate the country’s largest mobile network and a portfolio of assets, including radio antennas, base stations, transport network and associated contracts. The Company will be the first independent access network in Europe primarily focused on mobile and dedicated to the provision wholesale services to mobile operators through its state-of-the-art network, which at the end of 2022 covered approximately 67 percent of Italy with 5G reception.

EQT Infrastructure will leverage its long track record of developing digital infrastructure companies to support the Company’s strategy. This will primarily consist of developing the Company’s network and service offering, while pursuing additional growth opportunities in areas such as fixed wireless access, IoT and private networks.

Matthias Fackler, Partner and Head of Europe for EQT Infrastructure’s advisory team, said, “EQT Infrastructure is excited to partner with CK Hutchison and the Company’s management team in this bespoke transaction. We are committed to investing in the continued development of Italy’s digital backbone and leveraging the know-how we have developed in this unique transaction to explore similar partnership opportunities globally”.

Benoit Hanssen, incoming CEO of the Company, said “We are excited to partner with EQT Infrastructure to drive the development of one of the first independent multi-tenant radio access network owners and operators globally. We are proud to be one of the first operators in Europe to have designed such an innovative transaction in partnership with an experienced and reputed investment firm.”

The transaction is subject to customary regulatory approvals and is expected to close in six to nine months.

With this transaction, EQT Infrastructure VI is expected to be 15-20 percent invested based on target fund size (including closed and/or signed investments, announced public offers, if applicable and less any expected syndication).

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Infrastructure VI will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with EUR 119 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
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