GED Infrastructure, the infrastructure arm of Spanish GED Capital, is selling its stake in Telecom Castilla – La Mancha to Equitix, a pan-European fund manager specializing in infrastructure.
Financial terms were not disclosed.
Telecom CLM provides telecommunications infrastructure services to Spanish mobile operators, broadcasting services, and offers management of emergency networks and internet connectivity services, according to GED. The company operates more than 1,100 telecommunications sites.
It also provides consulting, engineering, installation and maintenance of mobile operators’ equipment.
Upon closing, Equitix will assume 55 percent ownership of the company, a stake that was initially acquired by Ahorro Corporación Infraestructuras in September 2007 and sold to GED in 2015.
With the sale, two companies remain in the former infrastructure fund portfolio of Ahorro Corporación: Aseguramiento Técnico de la Calidad, the main provider of technical inspections of vehicles in the Valencian Community and Terminal de Graneles Agroalimentarios de Santander, the main agri-food bulk logistics operator in the Port of Santander.
GED’s private equity arm recently raised €135 million ($148 million) for its sixth fund against a target of €175 million ($191 million). The fund recently acquired a majority stake in Aircraft Interior Refurbishment España (AIRE), a company specializing in the maintenance, repair and overhaul of aircraft cabin interiors.
GED Infrastructure said it plans to launch a new infrastructure fund soon.