Infracapital agrees sale of Alticom to Cellnex
Infracapital, the infrastructure equity investment arm of M&G Investments, announces that it has agreed to sell its 100% equity stake in Alticom to Cellnex for a total consideration of €133.1m (Enterprise Value). The transaction is expected to complete shortly.
Infracapital acquired Alticom, a core communications infrastructure provider in the Netherlands, in 2011. Alticom, which has historically had an EBITDA of approximately €10m, is led by an experienced management team that has long-standing relationships with its blue chip customer base, suppliers and other key stakeholders.
Ed Clarke, Co Founder and Director of Infracapital, said: “Alticom forms an essential component of networks for the Dutch telecommunication operators. This core infrastructure business has performed strongly under our ownership and we are proud to have developed the business to ensure Alticom is well-placed for the future. We are confident that Alticom will continue to grow under the ownership of Cellnex and wish the business and its employees every success.”
Martin Lennon, Co Founder and Head of Infracapital, said: “The sale of Alticom successfully concludes the realisation of assets from our Infracapital Partners LP fund. We take great satisfaction that over its 12 year term, the fund has achieved its objectives and in particular delivered excellent investment performance to our clients."
Infracapital is a leading European infrastructure investor, managed by M&G Investment Management, the European investment management arm of Prudential plc. Infracapital has raised £3 billion across four European infrastructure funds to date, comprising a team of over 30 professionals with investment, management and operational expertise. Infracapital’s approach to investment offers long-term value through the acquisition and active management of a diversified portfolio of core European infrastructure assets in both the operating and greenfield space. Target sectors include essential transportation, utilities, renewables and communications infrastructure.
The value of investments will fluctuate and investors may not get back the original amount they invested.
Alticom owns 24 high towers and 6 masts, together forming a unique asset base specifically designed to support a nationwide communications network in the Netherlands. Alticom leases space in these towers and masts, providing a number of additional services such as power supply and cooling to all telecommunications operators in the Netherlands.
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