Asterion Industrial Partners is buying AMP Capital’s Spanish telecommunications infrastructure business Axión.

The companies announced the deal in a joint statement, without disclosing any financial information.

AMP Capital acquired Axión in 2016 for investors in its global infrastructure equity platform. Under AMP Capital, Axión has expanded into new market areas and currently manages more than 5,000 service points distributed throughout Spain, across 635 towers.

Phil Pacey, principal, asset management at AMP Capital, said: “We are proud of Axión’s performance since our acquisition. We secured a solid business in a rapidly growing sector for our clients, and through our active business development approach, we have guided the business onto its growth trajectory.

“In the last four years, Axión has delivered build to suit towers and created a strong development pipeline to build further towers.”

Guido Mitrani, a founding partner at Asterion Industrial Partners, said: “We are very excited about this investment which is highly complementary to our existing portfolio and is uniquely positioned for further investment and growth acceleration.

“We look forward to working with its first-class management team, applying our industrial approach, to create an integrated telecommunications infrastructure platform, with a unique portfolio of towers enriched with wide-ranging backhaul capabilities and a superior fibre network.”

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