Stonepeak buys into EQT's DELTA Fiber
Stonepeak now owns a 50% stake in DELTA Fibre following an ownership shakeup.
The EQT-owned Dutch fibreco previously sat in EQTs Fund III. Now, EQT Fund III has sold DELTA Fiber to a consortium of EQT Fund V and Stonepeak on a 50/50 basis.
"Two leading international investors joining DELTA Fiber, confirms our success in recent years,” says Marco Visser, CEO DELTA Fiber. “That EQT chooses to invest in our company again, together with Stonepeak, shows confidence in our ambitious plans for the future. Together they provide us with a solid foundation for further growth.”
EQT and Stonepeak said they will support DELTA as it works to cover a quarter of the Netherlands with fibre broadband, primarily suburban and rural areas for both homes and businesses.
DELTA is deploying a massive FTTH project in the Netherlands, with an optical transport network based on 400G wavelengths.
Using Nokia 1830 Photonic Service Switch platforms, powered by Nokia’s Photonic Service Engine technology, DELTA is currently building a core network to support 19 sites, followed by the deployment of metro sites covering approximately 75 locations.
CTO John Wittekamp said the demand was driven by the "almost a doubling of traffic each year". With almost one million connections today, DELTA has a target for two million connections by 2025 which will be funded with €2 billion euros from a consortium of national and international banks.
The ownership transaction is subject to approval by supervisory authorities in the Netherlands and Europe and is expected to close by the end of 2021.