EQT acquires Maltese telco Melita
Scandinavian-based private equity group EQT has signed an agreement to acquire Maltese telecommunications operator Melita from Apax Partners and Fortino Capital.
The deal was signed via EQT’s global infrastructure IV fund, which recently agreed alongside Marc Ganzi’s Digital Colony to buy fibre network owner Zayo Group Holdings for $14.3 billion including debt.
“EQT has been built on a passion for developing companies. We invest in good companies across the globe with the aim of turning them not only into great companies but also sustainable ones,” said Ulrich Köllensperger, partner at EQT Partners and investment advisor to EQT Infrastructure IV.
“This is exactly the formula we aim to apply to Melita, which is already an innovator in the Maltese market and beyond in terms of infrastructure, products and customer service. As a result, we are confident that the coming months and years will be exciting and rewarding both for Melita’s employees and for its customers.”
EQT Infrastructure IV, which raised €9 billion earlier this year, said it was committed to supporting the growth of Melita. Melita owns converged fixed and mobile telecom infrastructure and is a leading operator in Malta, by investing in and upgrading its fixed and mobile networks. EQT also stated that it will open an additional data centre location in Malta and it will also support Melita’s internationalisation strategy, which includes its expansion in Italy as well as its innovative IoT connectivity proposition.
Harald Rösch, CEO of Melita, added: “This transaction is another proof of our success over the last years, built on the hard work from all employees and support from our owners. Thanks to our customers’ continued loyalty and increased trust we have positioned Melita as a telecom market leader in Malta in terms of innovation, technology and customer satisfaction. With the backing of EQT Infrastructure and their extensive experience in our industry, we will continue the journey by developing our networks and providing outstanding customer experience in the years to come. Melita is ideally positioned to grow in the Maltese telecom market and beyond.”
The parties have agreed not to disclose financial details of the proposed transaction, which is subject to customary regulatory approvals.