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


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


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.


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.

Press contact


Categories: News


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


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.

EQT Press Office,, +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:
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Categories: News


CapMan Infra invests in Dutch IT infrastructure provider Serverius with an ambition to build a northern European data centre platform

CapMan Infra press release
9 May 2023 at 9:00 am EEST

CapMan Infra invests in Dutch IT infrastructure provider Serverius with an ambition to build a northern European data centre platform

Serverius represents the first investment of CapMan Infra in a planned data centre platform providing European-wide connectivity. The platform seeks to expand into the Nordic countries by utilising CapMan Infra’s local market knowledge.

Serverius has three operating data centres in the Netherlands with a total of ~8 MW available power, and advanced inhouse technical IT infrastructure expertise. The company also offers additional IT infrastructure services such as one of the largest Dutch IP networks and interconnectivity from the third largest Dutch internet exchange “SpeedIX”. Serverius was founded in 2008 by its current CEO and owner, Gijs van Gemert, and today employs approximately 30 people.

This investment is the first in a data centre platform that CapMan Infra is looking to build throughout Northern Europe, providing European wide connectivity. With CapMan’s local market presence, the company seeks to expand into the Nordic countries. The company will focus on optimising energy usage, increasing the use of renewable energy and establishing high operating standards for its operations and value chain.

“We are looking forward to start working with the Serverius team on ways to position the company for further growth in this exciting market. This is an important first step of building a larger international platform”, says Harri Halonen, Partner at CapMan Infra. “Together with Serverius we are set to develop the governance, administration and client focus of the business in order to accelerate growth,” Halonen continues.

“We are thrilled to have CapMan on board and welcome their institutional and professional approach to support in the next phase of growth for Serverius. Over the past few years, Serverius has undergone an amazing transformation. This new partnership with CapMan is a logical next step to further optimize our business processes and build a strong northern European platform together. To serve our European customer base in the years to come, our team looks forward to expanding our unique range of data center services. Given the strong collaboration with CapMan, I will continue to invest in our new European platform of the future. I will remain closely involved in the daily business as I have been doing up to now,” says Gijs van Gemert, CEO of Serverius.

The investment is CapMan Nordic Infrastructure II fund’s third investment, following investments in Skarta Energy and Napier.

For more information, please contact:

Harri Halonen, Partner, CapMan Infra, p. +46 768 710 062

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With 5 billion in assets under management, our 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 consists of procurement services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. Learn more at 

About Serverius

Serverius is an IT infrastructure supplier in the Netherlands with its own carrier, data center colocation, DDoS protection, and S3 Object Storage services. Our users are large internet platforms, European data centers, internet providers, cloud providers, and many more. All kinds of companies use Serverius as their base to deliver high-quality and protected internet infrastructure services to their users.

Categories: News


Wireless Logic continues global expansion with acquisition of Blue Wireless


Wireless Logic strengthens geographical reach across Asia Pacific and the United States, and bolsters global service offering through a managed service provider for wireless network solutions.

Wireless Logic, the leading global IoT connectivity platform provider has acquired Singapore-headquartered Blue Wireless, a global service provider for managed wireless solutions. This agreement follows the company’s 2022 acquisitions of IoThink Solutions, Mobius Networks and Jola, continuing Wireless Logic’s strategy of strengthening its global footprint, service offering and routes to market.

Blue Wireless was founded in late 2015 in Singapore with the single focus of delivering Wireless WAN Solutions to the enterprise. Since then, it has rapidly expanded in coverage and capabilities, becoming the first provider of Fixed Wireless Access services on a global scale. Its team of 70 professionals operates across six offices in Asia Pacific, Europe and the United States, offering 24/7 managed network connectivity for businesses across all industries – including energy, retail, logistics and the maritime sector.

With the acquisition, Wireless Logic not only strengthens its presence in Asia Pacific and the United States, but also enhances its product and service offering around fixed wireless access. Blue Wireless offers fixed-price LTE/5G connectivity in over 80 countries, underpinned by speed guarantees and service SLAs, making it an ideal underlay alternative for global SD-WAN deployments.

Ivan Landen, CEO of Blue Wireless, said: “This is a major milestone, and we are truly excited for the journey ahead. With the support of Wireless Logic, we will be able to accelerate our innovation and connectivity roadmap to benefit our customers and teams around the world, supporting new use cases while maintaining our hands-on service culture.”

With the support of Wireless Logic, we will be able to accelerate our innovation and connectivity roadmap to benefit our customers and teams around the world, supporting new use cases while maintaining our hands-on service culture.

Ivan Landen, CEO, Blue Wireless

Joop Gerlach, COO of Blue Wireless, said: “We will continue to deliver wireless network solutions to our global enterprise customers, only now it will be backed by Wireless Logic’s strong position in core Mobile IoT networking.”

We will continue to deliver wireless network solutions to our global enterprise customers, only now it will be backed by Wireless Logic’s strong position in core Mobile IoT networking.

Joop Gerlach, COO, Blue Wireless

Oliver Tucker, CEO of Wireless Logic commented: “We are hugely excited to announce our ninth acquisition in two years, as we continue to strengthen our global footprint and routes to market through the global service provider channel. We welcome the talented Blue Wireless team and look forward to setting new standards in the connectivity marketplace.”

We welcome the talented Blue Wireless team and look forward to setting new standards in the connectivity marketplace.

Oliver Tucker, CEO, Wireless Logic


Categories: News


Arcus agrees to acquire SDC SpaceNet DataCenter


London, United Kingdom 6 December 2022 – Arcus Infrastructure Partners LLP (“Arcus”) announces that Arcus European Infrastructure Fund 3 SCSp (“AEIF3” or the “Fund”) has agreed to acquire SDC SpaceNet DataCenter GmbH & Co, KG (“SDC”), one of Europe’s most modern data centres, from SpaceNet AG.

SDC, located in Kirchheim, Munich, owns a modern, high specification data centre which has been built to an extremely resilient design, and is certified to the EN50600 VK4 standard, the highest availability standard.

Arcus is focused on ensuring that its investments have a positive ESG impact. The acquisition of SDC fits well into its long-term sustainable investment strategy thanks to SDC’s market leading energy efficiency characteristics and 100% of its energy being renewably sourced.

SpaceNet AG is a full-service internet provider which has been supplying the German market for around 30 years. SpaceNet will continue to be a long-term customer of SDC, which will house the IT servers and equipment of SpaceNet’s business customers.

Arcus is pursuing a regional edge co-location platform strategy focused on serving tier two German cities and selected adjacent European countries on an opportunistic basis. Arcus identified SDC as a target investment for AEIF3 via a detailed market screening and outreach process and entered into bilateral discussions with SpaceNet AG which culminated in the acquisition agreement being announced today.

John Shea, Arcus Partner, who led the transaction, said: “We have evaluated numerous data centre businesses across Germany and Europe over the past few years. SDC stood out as a very suitable first acquisition for our data centre aggregation strategy due to its great location, high-specification design, market leading energy efficiency characteristics, high quality anchor customers, and development potential. We look forward to our partnership with the SpaceNet team going forward as we work on delivering the next phase of growth for this business and our broader platform strategy.”

Michael Emmer, COO of SpaceNet AG, said: “Arcus is a partner we very much see eye to eye with, which was important to us in the sale context as well as with a view to our future long-term partnership. The development of SDC fulfilled our ambition to create a data centre with the highest availability, physical security and the most energy-efficient characteristics possible. On this basis we have the fullest confidence in SDC to house both our servers and those of our valued customers.”


Commenting on the acquisition, Ian Harding, Managing Partner at Arcus said: “We are really pleased to announce our agreement to acquire SDC by our third fund, AEIF3. Data centres are essential infrastructure to support the growth in demand for data processing services and business continuity solutions and we are delighted to be making our first acquisition in this space. We look forward to working with SDC and expanding into this sector further.”


“Our decision to sell SDC to Arcus was the logical consequence of continuing to focus strategically on our core competencies as an internet provider. Basically, nothing changes for our customers,” says Sebastian von Bomhard, Managing Director of SDC and member of the SpaceNet Board of Directors. “The on-site team will remain the same. A smooth continuation of data centre services for all SpaceNet customers is ensured by a long-term lease agreement.”


The transaction is expected to complete in Q1 2023.


Arcus was advised by Noerr (Legal), Arup (Technical adviser) BDO (Financial and tax adviser), and AON (Insurance).


SpaceNet was advised by Poellath (Legal).

About Arcus

Arcus Infrastructure Partners LLP is an independent fund manager focused solely on long-term investments in European infrastructure. Arcus invests on behalf of institutional investors through discretionary funds and special co-investment vehicles and, through its subsidiaries, currently manages investments with an aggregate enterprise value in excess of EUR 19bn (as of 30 September 2022). Arcus targets mid-market, value-add infrastructure investments, with a particular focus on businesses in the digital, transport, logistics & industrials, and energy sectors.

About SpaceNet AG

With its more than 120 employees, SpaceNet supports IT managers and managing directors in building up a strong corporate IT operation, keeping it running and developing digital opportunities. In doing so, it offers managed IT services, support and management for non-standard applications, 24×7 services, personal consulting and secure cloud services.

SpaceNet operates its cloud and IT services in three redundant high-security data centres in Munich. SpaceNet is certified according to the ISO 27001 security standard and works according to ITIL. The Munich-based company has placed great emphasis on training for 20 years and was awarded the 2019 Training Company Certificate by the Chamber of Industry and Commerce.

SpaceNet serves around 1,200 customers such as Antenne Bayern and the Munich Transport and Tariff Association (MVV). The SpaceNet family of companies includes SDC and brück IT GmbH, a systems house specializing in services and software for lawyers. The Munich-based company is one of the Internet pioneers in the industry and was founded in 1993 by current CEO Sebastian von Bomhard, who now runs it together with Michael Emmer.

Arcus Media Contacts:

Debbie JohnstonE:

T: +44 7532 183811

Callum SprengE:

T: +44 7803 970103

Categories: News


Antin to invest in OpticalTel, a leading fiber broadband provider in Florida


The investment will support OpticalTel’s accelerated growth

New York, Paris, London

Antin Infrastructure Partners and OpticalTel today jointly announced that Antin has acquired a majority interest in OpticalTel, a leading fiber broadband provider in Florida. OpticalTel is Antin’s sixth investment through its mid cap fund.

Founded in 2004 by Mario Bustamante, OpticalTel is a fast-growing provider of essential high-speed internet and telecommunication services, with a focus on residential bulk contracts to customers located in homeowners and condo-owners associations. Antin’s investment will support the next chapter of OpticalTel’s growth as it deepens its customer relationships in existing markets and further expands its geographic footprint throughout the region, while continuing to deliver exceptional service to its valued customers.

Mr. Bustamante will retain an ownership stake in OpticalTel and remain on the board of directors. Luis Rodriguez, CEO and President, will continue to lead the company with the support of its long-tenured management team. As an experienced fiber investor, Antin will leverage its expertise to support OpticalTel’s business plan.

Kevin Genieser, Senior Partner at Antin, stated: “We see this partnership with the OpticalTel team as an immense growth opportunity. Fiber is at the core of modern infrastructure, providing mission-critical, low-latency bandwidth services to a customer base that has increasing demand for data. We believe OpticalTel is very well-positioned to meet this need in the fast-growing Florida market.”

Luis Rodriguez, CEO and President of OpticalTel, commented: “We are thrilled to be partnering with Antin as we enter the next chapter of OpticalTel’s journey. The strength of our relationships in the region speaks to our ability to deliver best-in-class technology and connectivity to our customers. With Antin’s support, we are excited to scale and continue executing at the highest level for those we serve.

Mario Bustamante, Founder of OpticalTel, added: “Since founding OpticalTel 18 years ago, I have sought to provide essential connectivity services to those in my community. I am grateful to all those that helped build OpticalTel over the years and for Antin’s commitment to support the team going forward.”

Lazard and RBC Capital Markets served as financial advisors to OpticalTel while Latham & Watkins served as legal advisor. TD Securities served as financial advisor to Antin while Greenberg Traurig served as legal advisor. Citizens (administrative agent), CIT (a division of First Citizens Bank) and TD Securities acted as lead arrangers on the debt financing.

The transaction is expected to close in early 2023, subject to customary regulatory approvals.


About OpticalTel

Founded in 2004 and based in Coral Gables, Florida, OpticalTel is a regional fiber broadband provider serving large areas of South and Central Florida. OpticalTel offers a wide range of products and services, including high-speed internet, cloud-based video, and digital telephony services. OpticalTel serves a variety of communities including homeowners and condo-owners associations, student housing and assisted living facilities.


About Antin Infrastructure Partners

Antin Infrastructure Partners is a leading private equity firm focused on infrastructure. With over €29 billion in assets under management across its Flagship, Mid Cap and NextGen investment strategies, Antin targets investments in the energy and environment, digital, transport and social infrastructure sectors. With offices in Paris, London, New York, Singapore and Luxembourg, Antin employs over 190 professionals dedicated to growing, improving and transforming infrastructure businesses while delivering long-term value to portfolio companies and investors. Majority owned by its partners, Antin is listed on Euronext Paris (Ticker: ANTIN – ISIN: FR0014005AL0).


Media Contacts

Antin Infrastructure Partners

Nicolle Graugnard, Communication Director



Ludmilla Binet, Head of Shareholder Relations





Tristan Roquet Montegon +33 (0) 6 37 00 52 57

Gabriel Jabès +33 (0) 6 40 87 08 14

Categories: News


GIP and KKR-led Consortium Enters Into Strategic Co-control Partnership With Vodafone to Invest in Vantage Towers AG


Two of the world’s leading infrastructure investors and Vodafone team up to jointly transform Vantage Towers into a leading player in the European telecoms tower sector

  • The Consortium, as partner to Vodafone, will co-control Vodafone’s c. 81.7% stake in Vantage Towers and launch a public takeover offer to the minority shareholders of the company for the remaining c. 18.3%
  • GIP and KKR together with Vodafone intend to provide the deep infrastructure expertise needed to accelerate Vantage Towers’ strategic and operational development
  • The strategic partners intend to support an ongoing multibillion euro investment program over the next five years in order to improve Vantage Towers’ existing infrastructure and expand and upgrade its network
  • The Consortium will support the development of Europe’s digital infrastructure by driving network expansion and enabling the deployment of next-generation technologies
  • The public takeover will be launched at an offer price of EUR 32.0 per Vantage Towers share, representing a 19% premium to the 3-month volume-weighted average share price

LONDON & FRANKFURT–(BUSINESS WIRE)– Today, a consortium of funds led by Global Infrastructure Partners (“GIP”) and KKR (together “the Consortium”) entered into a strategic co-control partnership with Vodafone GmbH (“Vodafone”) for Vodafone’s c. 81.7% stake in Vantage Towers AG (“Vantage Towers” or “the company”), a leading telecoms tower company in Europe. Vodafone will transfer its stake in Vantage Towers to a holding company (“Oak BidCo”), which will be indirectly co-controlled by Vodafone and the Consortium. The Consortium will obtain a shareholding of up to 50%. Oak BidCo will launch a voluntary public takeover offer for all outstanding free float shares of Vantage Towers AG comprising c. 18.3% of the share capital.

GIP and KKR will be investing through their core infrastructure strategies. Tower Bridge Infrastructure Partners1 will be part of the Consortium as a co-investor, with additional funding for the transaction provided by the Public Investment Fund (“PIF”).

Together, GIP, KKR and Vodafone will provide deep infrastructure expertise to help advance the company’s strategic plans. The Consortium and Vodafone share a joint ambition to accelerate the company’s growth trajectory through additional investments by Vantage Towers in its network and expansion into fast-growing adjacent markets. The Consortium and Vodafone aim to expand Vantage Towers’ business to create a leading pan-European telecoms tower business.

Already a leader in its core markets today, Vantage Towers has a large footprint of approximately 83,000 sites in ten countries, long-term agreements with high-quality tenants and a deep and dense network in the markets in which it operates. The company benefits from consistent organic growth, stable margin development and strong cash generation driven by significant revenue visibility and enhanced commercialization of its tower footprint. In 2021, Vantage Towers signed a landmark agreement with 1&1 Mobilfunk GmbH to support the company in the rapid roll-out of its 5G network, covering potentially up to 5,000 existing sites throughout Germany for the next 20 years.

“We’re delighted to join forces with Vodafone and KKR to invest in Vantage Towers, a high-quality European tower portfolio with strong upside potential. We are looking forward to capturing the exciting value-creating opportunities in the European telecoms infrastructure sector by advancing Vantage Towers’ strategy and supporting its capacity to build new sites. As strategic partners with Vodafone and KKR, we will bring our deep infrastructure expertise and resources to help the company deliver the best data connectivity for individuals and businesses and contribute to enabling Europe’s digital future in the interest of all stakeholders,” said Will Brilliant, Partner and Head of Digital Infrastructure at GIP.

“Together with our strategic partners Vodafone and GIP, we believe Vantage Towers’ high-quality footprint and network across the region ideally position it to meet the ever-growing demand for mobile connectivity in Europe. We have a shared goal of creating a pan-European telecoms champion by continuing to grow and develop the business, leveraging the Consortium’s significant telecoms infrastructure investment experience and global resources. At KKR we are long-term conviction investors in Europe’s digital infrastructure and at Vantage Towers we intend to pursue value-creating investments to capitalise on the growth in this sector and to help drive consolidation in a fragmented market,” said Vincent Policard, Partner and Co-Head of European Infrastructure at KKR.

“This is a landmark moment for both Vodafone and Vantage Towers. This transaction successfully delivers on Vodafone’s stated aims of retaining co-control over a strategically important asset, deconsolidating Vantage Towers from our balance sheet to ensure we can optimise its capital structure and generate substantial upfront cash proceeds for the Group to support our priority of deleveraging. We are excited to partner with GIP and KKR, both world-class investors who bring significant expertise in digital infrastructure and share our long-term vision for Vantage Towers as we collectively take the business to the next stage of its growth,” said Nick Read, Vodafone Group Chief Executive.

Investing in the modernization of Europe’s mobile infrastructure
Together, the strategic partners plan to support Vantage Towers’ multibillion investment program over the next 5 years in order to improve existing infrastructure and to expand as well as upgrade the network. Through their strategic co-control partnership, the Consortium and Vodafone intend to support Vantage Towers to:

  • Accelerate the company’s ambitious program to build new sites for existing clients (“Build-to-suit”, “BTS”) that helps them to meet their coverage obligations and densification requirements.
  • Enhance Vantage Towers’ commercial capabilities and drive the utilization of existing assets by capturing additional co-location opportunities from new and existing third-party customers.
  • Expand the company’s activities beyond its core business into fast-growing adjacent markets such as 5G private networks, data centers, edge computing, small cells and the internet-of-things (“IoT”), and deploying fiber to the tower ecosystem.
  • Further drive consolidation in the European tower sector.

This European growth strategy is expected to allow Vantage Towers to further diversify its tenant base, increase the size and depth of its tower portfolio, while also creating further cost efficiencies and improving its profitability.

With further investments into Vantage Towers’ network, the Consortium and Vodafone are supporting Europe’s digitalization efforts and ensuring that mobile telecommunications infrastructure can keep up with the rapidly rising demand for data traffic and connectivity. Emerging trends such as autonomous driving, telemedicine, virtual/augmented reality, smart farming and IoT depend on the data services and infrastructure that enable them. Vantage Towers has the DNA of a carrier-neutral infrastructure provider, which will play a key role in empowering a sustainably connected Europe. The Consortium is aware of its responsibility to provide access to communications services for the community. It also recognizes the importance of sustainably stewarding these critical assets and is committed to ensuring that Vantage Towers remains a highly attractive employer in the industry.

GIP and KKR have a long track record of collaboration in the infrastructure sector
Both GIP and KKR are leading global infrastructure investors. Together, they form a Consortium with unique experience and expertise in global infrastructure investing, particularly in the digital and communications sector. Both companies share a longstanding institutional relationship and have a proven track record of acting together within one consortium. The Consortium is a strong financial partner for Vantage Towers with access to ample liquidity and long-term value creation objectives to support the business and the necessary investments at this pivotal moment for the industry.

Voluntary takeover offer
As part of their strategic co-control partnership, the Consortium and Vodafone will launch a voluntary public takeover offer to the shareholders of Vantage Towers through Oak BidCo. Vantage Towers’ shareholders will be offered EUR 32.0 per share in cash. Vantage Towers’ shareholders will benefit from a 19% premium to the 3-month volume-weighted average share price.

The voluntary takeover offer will be subject to various customary offer conditions, including the receipt of regulatory antitrust and FDI approvals, with closing expected in the first half of 2023.

As part of the transaction, Oak BidCo and Vantage Towers have entered into a Business Combination Agreement in which Vantage Towers undertook to support the takeover offer. Subject to their review of the offer document, the management board and supervisory board of Vantage Towers welcome and support the offer and intend to recommend that Vantage Towers’ shareholders accept the offer. The current management board members of Vantage Towers will continue to lead the company.

Further, the Consortium and Vodafone intend to implement a domination profit and loss transfer agreement (“DPLTA”) if the final shareholding of Oak BidCo in Vantage Towers is below 95%, or a squeeze-out of non-Oak-BidCo minority shareholders if the aggregate shareholding of Oak BidCo in the company is 95% or higher. Post-closing, Vodafone and the Consortium will consider removing Vantage Towers’ public listing from the Frankfurt Stock Exchange.

Offer document and further information
The voluntary public takeover offer will be made pursuant to an offer document to be approved by the German Federal Financial Supervisory Authority (BaFin). This offer document will be published following receipt of permission from BaFin, at which point the initial acceptance period of the takeover offer will commence. The offer document (in German and a non-binding English translation) and other information pertaining to the public takeover offer will be published on the following website:

GIP and KKR are advised by Morgan Stanley as exclusive financial advisor and Latham & Watkins as legal advisor.


About Vantage Towers
Vantage Towers is a leading tower company in Europe with around 83,000 sites in ten countries, connecting people, businesses and devices in cities and rural areas.

The company was founded in 2020 and is headquartered in Düsseldorf. Vantage Towers has been listed on the Deutsche Börse’s Prime Standard in Frankfurt since 18 March 2021. The shares are included in the MDAX, TecDAX, STOXX Europe 600 and FTSE Global Midcap Indices.

Vantage Towers’ portfolio includes towers, masts, rooftop sites, distributed antenna systems (DAS) and small cells. By building, operating and leasing this infrastructure to MNOs or other network providers such as IoT companies or utilities, Vantage Towers is making a significant contribution to a better-connected Europe.

While already 100% of the electricity that Vantage Towers uses to operate its infrastructure is obtained from renewable energy sources, green energy is increasingly being generated directly on site with the help of solar panels, micro wind turbines and in future also hydrogen solutions. This fits well into the overall strategy of the company to drive a sustainable digitalisation in Europe and to support partners through technological innovation in decarbonisation and achieving their climate goals.

For more information, please visit our website at, follow us on Twitter at @VantageTowers or connect with us on LinkedIn at

About Vodafone
Unique in its scale as the largest pan-European and African technology communications company, Vodafone transforms the way we live and work through its innovation, technology, connectivity, platforms, products and services.

Vodafone operates mobile and fixed networks in 22 countries, and partners with mobile networks in 47 more. As of 30 June 2022, we had over 300 million mobile customers, more than 28 million fixed broadband customers and 22 million TV customers. Vodafone is a world leader in the Internet of Things (“IoT”), connecting around 160 million devices and platforms.

We have revolutionised fintech in Africa through M-Pesa, which celebrates its 15th anniversary in 2022. It is the region’s largest fintech platform, providing access to financial services for more than 50 million people in a secure, affordable and convenient way.

Our purpose is to connect for a better future by using technology to improve lives, digitalise critical sectors and enable inclusive and sustainable digital societies.

We are committed to reducing our environmental impact to reach net zero emissions across our full value chain by 2040, while helping our customers reduce their own carbon emissions by 350 million tonnes by 2030. We are driving action to reduce device waste and achieve our target to reuse, resell or recycle 100% of our network waste.

We believe in the power of connectivity and digital services to improve society and economies, partnering with governments to digitalise healthcare, education and agriculture and create cleaner, safer cities. Our products and services support the digitalisation of businesses, particularly small and medium enterprises (SMEs).

Our inclusion for all strategy seeks to ensure no-one is left behind through access to connectivity, digital skills and creating relevant products and services such as access to education, healthcare and finance. We are also committed to developing a diverse and inclusive workforce that reflects the customers and societies we serve.

For more information, please visit, follow us on Twitter at @VodafoneGroup or connect with us on LinkedIn at

About Global Infrastructure Partners
GIP is a leading independent infrastructure fund manager that makes equity and debt investments in infrastructure assets and businesses. GIP targets investments in the energy, transport, digital infrastructure, and water/waste sectors in both OECD and select emerging market countries. Headquartered in New York, GIP operates out of 10 offices: New York, London, Stamford (Connecticut), Sydney, Melbourne, Brisbane, Mumbai, Delhi, Singapore and Hong Kong. GIP manages c. US $84 billion for its investors. GIP’s portfolio companies have combined annual revenues of c. US $68 billion and employ over 100,000 people. For more information, visit

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.

KKR established its Global Infrastructure business in 2008 and has since grown to one of the largest infrastructure investors globally with a team of more than 75 dedicated investment professionals. The firm currently oversees approximately US$50 billion in infrastructure assets globally as of 30 September, 2022, and has made over 65 infrastructure investments across a range of sub-sectors and geographies. KKR’s infrastructure platform is devised specifically for long term, capital intensive structural investments.

For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at and on Twitter @KKR_Co.

1 Separately Managed Account managed by GIP

Media Contact Consortium (on behalf of GIP and KKR)


Thea Bichmann
Mobile: +49 172 13 99 761

Christian Falkowski
Mobile: +49 171 86 79 950


Alastair Elwen
Telephone: +44 20 7251 3801

Sophia Johnston
Telephone: +44 20 7251 3801

Source: KKR

Categories: News


EQT Infrastructure broadens investor base in GlobalConnect

  • EQT Infrastructure welcomes Mubadala as an investor in GlobalConnect
  • The broadened investor base adds new resources and expertise, supporting GlobalConnect’s long-term ambition to increase societies’ digital connectivity

EQT is pleased to announce that the EQT Infrastructure III and IV funds (“EQT Infrastructure”) have signed an agreement to sell a minority stake in GlobalConnect (the “Company”) to Mubadala Investment Company (“Mubadala”). Having been invested in the Company since 2017, EQT Infrastructure will remain as the largest owner following the closing of the transaction.

Headquartered in Stockholm, Sweden, GlobalConnect is a fiber-based data communication and data center services provider to enterprises, public institutions, and consumers in Northern Europe. The Company was created in 2019 through the combination of four independent fiber platforms in Denmark, Norway and Sweden, owned by EQT Infrastructure.

In times of increasing data volumes and ever-growing demand for fast and reliable connectivity, GlobalConnect plays an important role in providing essential digital infrastructure solutions to the societies it operates in. Today, GlobalConnect’s infrastructure carries more than 50 percent of all internet traffic generated in the Nordics across its network of 150,000 km of fiber infrastructure and 35,000 m2 data center space, and it employs around 1,800 people in the region.

Rooted in an ambition to provide fast and secure internet access to all, EQT Infrastructure has over the years invested significantly in GlobalConnect’s Fiber-to-the-Home deployment in underserved areas and remote parts of Sweden and Norway, enabling digital inclusion and bridging the divide between urban and rural regions. As made evident by the pandemic, having access to fast and robust bandwidth increases societies’ resilience and strengthens companies’ competitiveness.

By welcoming Mubadala as a minority investor in GlobalConnect, EQT Infrastructure aims to broaden the Company’s long-term shareholder base, while drawing on Mubadala’s prior investment experience in data center and Fiber-to-the-Home assets in numerous markets.

Carl Sjölund, Partner within EQT Infrastructure’s Advisory Team, said, “GlobalConnect is a perfect example of EQT Infrastructure’s strategy to back companies that provide essential services to society. As data usage and internet traffic continue to increase, it is vital that the underlying digital infrastructure keeps up to meet future demand. EQT Infrastructure remains committed to GlobalConnect’s ambition to increase societies’ digital connectivity and we are happy to welcome Mubadala to come along on this journey”.

Khaled Abdulla Al Qubaisi, Chief Executive Officer, Real Estate and Infrastructure Investments at Mubadala, said, “We are pleased to be investing with our long-term partner, EQT, in GlobalConnect. As a responsible investor, we highly prize those deals that enable us to invest in high conviction assets and sectors for value creation and to deliver a positive impact on communities. Investing in digital infrastructure allows us to achieve both these goals. We look forward to working with GlobalConnect and EQT to capitalize on growth opportunities in data center and Fiber-to-the-Home assets, and to support Europe’s digital infrastructure development, a vital enabler of digital inclusion and socioeconomic progress.”

The transaction is subject to customary conditions and approvals.

EQT Infrastructure was advised by Citigroup and Deutsche Bank.

EQT Press Office,, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with EUR 77 billion in assets under management as of 30 June 2022, across 36 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 280,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info:
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About GlobalConnect
GlobalConnect Group is one of the leading digital infrastructure and data communication providers in Northern Europe. The Group delivers end-to-end solutions across its own infrastructure consisting of 150,000 kilometers fiber network and 35,000 sqm data center space in Denmark, Norway, Sweden, Germany and Finland. GlobalConnect Group employs approximately 1,800 people, has 30,000 B2B customers and connects more than 700,000 households with a high-capacity fiber network. GlobalConnect Group is the result of 2019 and 2020 mergers between Broadnet, GlobalConnect and IP-Only. In the B2C segment, the group operates under the brands IP-Only, HomeNet and Onefiber, while operating as GlobalConnect in the B2B segment across all its markets.

More info:

About Mubadala Investment Company 
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.

Mubadala’s $284 billion (AED 1045 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.   

For more information about Mubadala Investment Company, please visit:   

For media enquiries, please contact: ;

Categories: News


CVC Credit supports Cinven’s acquisition of Euro Techno Com

CVC Capital Partners

CVC Credit is pleased to announce that it has committed debt facilities to support Cinven’s acquisition of Euro Techno Com (“ETC Group”), a specialised distributor for the telecom and technology infrastructure industry.

Founded in 1993, ETC Group is a global leader and partner in the design, procurement and distribution of materials, tooling and equipment used by telecom operators and their subcontractors to install, build and maintain wireline and wireless infrastructure and other digital infrastructure. Headquartered in France, the Group has c.1,100 employees and c.14,000 customers based primarily across Europe and the US.

ETC Group is led by an experienced management team, with a strong record of successful acquisitions to broaden its geographic scope and customer base. The company has built a strong market position as a global leader and critical link between sourcing and distribution of materials for the telecommunications industry in France, Portugal, the US, UK, Israel, Dominican Republic, Qatar, Oman, UAE, Hong Kong, Morocco, Germany and Poland.


This transaction is a great example of the power of the CVC Network, which allows us to draw on its knowledge and experience, particularly that of CVC’s Technology, Strategic Opportunities and France teams

Andrew Davies Partner and Co-Head of Private Credit

Dominic Connelly, Director at CVC Credit commented: “ETC Group’s critical and highly regarded service offering, position it as a key enabler in the rollout of telecoms infrastructure. Its resilient and bespoke business model, as well as market tailwinds, are helping the business to accelerate its growth and increase market share, while at the same time, continuing to deliver high levels of customer satisfaction.”

Andrew Davies, Partner and Co-Head of Private Credit at CVC Credit, said: “This transaction is a great example of the power of the CVC Network, which allows us to draw on its knowledge and experience, particularly that of CVC’s Technology, Strategic Opportunities and France teams, which will help us support ETC Group better during their next stage of exciting growth.”

Categories: News


Ardian acquires majority stake in telecoms operator, Aire Networks


Ardian, a world leading private investment house, has today announced its acquisition of a majority stake in Aire Networks, the Alicante-based telecommunications services company, through its latest buyout fund.  Ardian has purchased the stake from Magnum Capital, and will support Aire Network’s growth plans in the coming years.

Aire Networks, based in Elche, Alicante, was founded in 2002 by Raul Aledo, Miguel Tecles and Emilio Gras, who are currently the CEO, CTO and CIO of the company respectively, and maintain their stake in the company. The Ardian Buyout team will work together with the Aire Networks management team to continue driving its ambitious growth plan.

The company provides telecommunications services for operators and companies, offering connectivity, digitalisation and digital transformation services based on cloud and neutral fibre. The company is a market-leader in Spain and Portugal, and is developing an international expansion plan.

With Ardian’s support, the telecommunications company will continue to drive its growth, with the aim of becoming the European market-leader. Aire Networks has made several acquisitions of other operators since 2019, including Unelink and Prored, its rival LCRcom, and the Portuguese company, AR Telecom. It aims to further expand its portfolio of products and services, as well as strengthening its geographical presence.

This investment has been made by the Ardian Buyout team, led by Gonzalo Fernandez-Albiñana in Spain. The company will be managed independently from Adamo, another Ardian portfolio company owned by the Infrastructure team, led by Juan Angoitia in Spain.

“Aire Networks is a company with a unique business model that makes it a key player in the digitalization of companies and the development of communications. We are very pleased to have the opportunity to support Raul, Miguel, Emilio and the entire Aire team in this new phase of growth.” Philippe Poletti, Member of the Executive Committee and Head of the Ardian Buyout team

The closing of the transaction is subject to customary closing conditions, including obtaining regulatory approvals.


Ardian is a world leading private investment house, managing or advising $130bn of assets on behalf of more than 1,300 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. We also provide a specialist service for private clients through Ardian Private Wealth Solutions. Ardian is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 900+ employees, spread across 15 offices in Europe, the Americas and Asia, 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.

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Categories: News