12 January 2018
| James Pearce
Stonepeak Infrastructure Partners has completed its acquisition of a majority stake in bandwidth infrastructure firm euNetworks.
The deal sees the US private equity firm acquire
Singapore’s GK Goh Holdings share of the
London-based company, with Stonepeak pledging to make up to
$500 million available for investment in euNetworks.
Stonepeak represents around $11.3 billion worth of
investments – mainly made up of companies that are in
oil and gas based in the US. One of the few telecoms
shareholdings are Denver-based data centre company Cologix, in
which it acquired a majority stake in February 2017, also for
In 2014 Stonepeak invested in wireless infrastructure
company Digital Bridge, and the following year Stonepeak and
Digital Bridge together led a $1.4 billion recapitalisation of
carrier-neutral wireless networking company ExteNet
"euNetworks has distinguished itself in an increasingly
connected society where fibre is core to communications
infrastructure. We're delighted to partner with Brady and the
team," said Trent Vichie, Co-Founder and Co-CEO of
euNetworks owns and operates dense fibre-based metropolitan
networks in 14 cities, connected by an intercity backbone
covering 49 cities in 15 countries, stretching from Dublin to
Marseille to Helsinki.
These networks directly connect into over 300 data centres
and more than 1,300 further cell towers, cable landing stations
and enterprise buildings. The company said that "for Stonepeak
the investment represents an ideal platform to enter the
bandwidth infrastructure market".
"We're very pleased to have closed our transaction," said
Brady Rafuse, chief executive officer of euNetworks. "I
genuinely believe the combination of Stonepeak, Columbia and
many of our previous investors coming together as the new
euNetworks represents a fantastic opportunity for our
customers, our people, our partners and the communities in
which we operate."
GK Goh Holdings,
mergers and acquisitions