EQT adds to telecoms portfolio by buying German fibre network Inexio for €1bn
EQT, the Swedish infrastructure investor, is buying a German broadband fibre company, Inexio, for a reported €1 billion.
Inexio provides high-speed internet access to more than 110,000 customers and 6,000 businesses in the Saarland in south-west Germany. It has more than 10,000km of fibre infrastructure.
David Zimmer, who founded Inexio 12 years ago, said: “From our excellent position today, we will continue to invest heavily to bring modern and reliable fibre-optic infrastructure to two million German households by 2030.”
Earlier this year (see picture) Inexio celebrated its 100,000th customer with a dinner in Saarbrücken.
For the past three years the company has been owned by private-equity company Warburg Pincus, along with a number of minority shareholders, including Deutsche Beteiligungs.
Rene Obermann, the former Deutsche Telekom CEO who is now managing director of Warburg Pincus Deutschland, said: “Our investment in Inexio and our partnership with David are textbook examples of our strategy to back first-class founders and entrepreneurs to build sustainable businesses for the future. David and his team have done an excellent job and we wish them all well in the future.”
EQT, based in Stockholm, is the company that is partnering with Marc Ganzi’s US group to buy Zayo for $14.3 billion.