Blackstone has agreed to form an equity partnership with Sipartech, a French telecommunications infrastructure solutions provider, the firm announced on Oct. 4.
Financial terms of the transaction were not disclosed.
Headquartered in Paris, Sipartech owns and operates over 3,000 kilometers (1,864 miles) of fiber across France, specifically neutral dark fiber networks in the Paris metro area, Marseille and Lille, with a focus on serving data center and hyperscale customers.
Blackstone will acquire its stake from growth equity investor Summit Partners, who invested in the business alongside Sipartech’s founder and CEO in 2016.
“We expect France to be at the intersection of exponential growth in fiber connectivity needs in Europe over the coming years,” said Thomas Senecal of Blackstone Tactical Opportunities. “Investing in Sipartech substantially augments our European digital infrastructure presence, and we are excited to support the company’s ongoing remarkable growth in France and across continental Europe.”
The transaction is expected to close later this year, subject to regulatory approval.