Transactions - MAY 14, 2018

Antin Infrastructure Partners acquires fiber platform

by Jody Barhanovich

Antin Infrastructure Partners, an independent private equity firm focused on infrastructure investments, has entered into a definitive agreement to acquire Ufinet Group’s Spanish business from private equity firm Cinven.

Ufinet Spain is a leading independent wholesale fiber platform with a unique nation-wide long-haul network, high capillarity in metro areas, and fast-growing dark fiber, lit fiber and fiber to the home (FTTH) businesses.

This transaction is Antin’s fourth announced in the fiber subsector and sixth overall in the wider telecom space. Since 2015, Antin has owned Eurofiber, a provider of critical telecommunication infrastructure in the Netherlands and Belgium, and it recently announced the conclusion of a definitive agreement for the acquisition of FirstLight Fiber, which provides critical fiber-based telecommunication infrastructure to enterprise and carrier customers throughout the Northeastern United States.

Furthermore, on April 24, 2018, Antin (together with West Street Infrastructure Partners) announced a recommended cash offer for CityFibre Infrastructure Holdings, an independent provider of fiber infrastructure in towns and cities across the United Kingdom, listed on the London Stock Exchange’s AIM. The CityFibre acquisition will be implemented by means of a court-sanctioned scheme of arrangement and is subject to shareholder approval.

The transaction results in the separation of Ufinet Group into two separate companies. Ufinet Spain will be acquired by Antin and the international operations of Ufinet will be acquired by the Sixth Cinven Fund.

Ufinet Spain was originally carved-out from Spanish utility Gas Natural Fenosa in 2014 along with the international operations of Ufinet.

The respective sale transactions are not subject to any mandatory conditions (regulatory or otherwise) and both are expected to complete simultaneously in July.

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