Morrison & Co acquires 33.3% stake in Lyntia

Morrison & Co acquires 33.3% stake in Lyntia

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H.R.L. Morrison & Co (Morrison & Co), the infrastructure investment firm, has acquired a 33.3% stake in Spanish fibre operator, Lyntia Networks (Lyntia), for an undisclosed sum.

Lyntia operates a vast metro and long-haul fibre network in Spain which spans more than 43,000km, offering wholesale B2B connectivity services to telcos and carriers, cloud providers and data centres, to name a few.

“Lyntia has a solid market position and huge growth potential," said Vincent Gerritsen, partner and head of UK and Europe at Morrison & Co.

"We are excited to work with its management and co-shareholders, bringing our extensive sector experience to support the business to realise its full potential by building its network and service offering, while providing our clients with strong long-term returns.”

The investment in Lyntia will be made on behalf of the Morrison & Co Infrastructure Partnership, an open-ended global infrastructure fund which launched in 2021.

"Our team has deep investment and operating experience in digital infrastructure and this acquisition aligns with one of our core investment pillars - to invest in infrastructure vital to support the digitisation of services across Europe, as demand for data centres, mobile phone masts and fibre assets continues to grow," added Will Smales, partner and chief investment officer at Morrison & Co.

The news comes as Spain continues to develop as an international connection hub and Morrison & Co’s investment will help Lyntia achieve its growth potential and capitalise on its already strong position.

The investment adds to Morrison & Co existing global portfolio in which includes Vodafone New Zealand, Fore Freedom in the Netherlands, Kao Data in the UK, CDC Data Centres and Amplitel towers in Australia. The firm is also currently progressing the acquisition of FiberLight in the US and Uniti in Australia.

“Morrison & Co’s investment is a strong endorsement of our business and our growth potential in one of the most exciting and rapidly growing fibre markets," added José Antonio López, CEO of Lyntia Networks.

"We have worked to build and consolidate our business in recent years – with new investment and Morrison & Co’s expertise in digital infrastructure, this will help position us to accelerate growth and reinforce our market leading position.”

The transaction is due close later this year, subject to standard approvals and closing conditions.