Infracapital agrees sale of Nexera
Infracapital, the infrastructure equity investment arm of M&G, has agreed the sale of its 100% stake in Polish wholesale fibre network operator Nexera to a consortium comprised of Orange Poland and APG Asset Management.
Nexera was established in 2017 as a joint venture between Infracapital and Nokia to design, build and operate advanced fibre optic networks and broadband services to residences and schools across underserved regions of Poland. Infracapital acquired Nokia’s stake in 2024, becoming the company’s sole owner.
Under Infracapital’s ownership, Nexera has built a wholesale, open access network serving approximately 800,000 premises with almost 2,000 schools across central and northern Poland. It is now the country’s leading independent rural Fibre to the Home (FTTH) infrastructure operator, delivering connectivity to its large share of population living in rural areas. The company has grown both organically and through strategic acquisitions, and has achieved a penetration rate of 35%.
In total, more than 70 Independent Service Providers, including all of Poland’s major providers, are signed on to Nexera’s wholesale platform. The company has also delivered an effective acquisition strategy and built a strong track record of successful integration, having acquired eight assets since 2020 to build on its network expansion.
The transaction is subject to customary closing conditions and regulatory approvals.
Mohit Varma, Director at Infracapital, said: “Nexera has come a long way since we formed the business in 2017. We have supported the company in significantly scaling its network through organic build and selective acquisitions, creating a leading platform that is improving connectivity across Poland. The progress is a credit to the strength of the management team, and we would like to thank them for their commitment throughout our partnership, which leaves Nexera well positioned for its next phase of growth with Orange Poland and APG”.
Jacek Wiśniewski, CEO at Nexera said: ”Since 2017, Nexera has been an innovative wholesale fibre network operator, focused on automation and strong partnerships. Over the past eight years we have built an exceptional team, successful company and also improved connectivity for people in small towns and rural areas across Poland. We thank Infracapital for their support on this journey. Today, we join forces with Orange Polska, APG, and their joint venture Światłowód Inwestycje to create Poland’s largest open wholesale fibre network operator”.
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About Infracapital
Infracapital invests in, builds and manages a diverse range of essential infrastructure to meet the changing needs of society and support long-term economic growth. We take an active role in all of our investments, whether nascent or large, to fulfil their potential and ensure they are adaptable and resilient. Our approach creates value for our investors, as we target investments with the scope for stable and sustainable growth. Our portfolio companies work closely with the communities where they are based, to the benefit of all stakeholders. Infracapital is well positioned to deliver the significant investment required to help build the future. The founder-led team of experienced specialists has worked with more than 60 companies around Europe and has raised and managed over €9 billion of client capital across seven funds. Infracapital is part of M&G Plc, an international savings and investments business, managing money for around 4.5 million retail customers and more than 900 institutional clients in 39 offices worldwide. Total assets under management are £354.6 billion (as at 30 June 2025).