Fiera Capital Corporation’s infrastructure arm is making its first investment in Spain by agreeing to buy telecommunications service provider IslaLink from EQT Infrastructure.

The Canadian infrastructure investor has entered into a “definitive agreement” to buy the independent and neutral fibre infrastructure platform from EQT Infrastructure II Fund for an undisclosed sum.

IslaLink will be added to Fiera’s global infrastructure fund EagleCrest.

IslaLink provides route-redundant fibre infrastructure connecting the Balearic Islands to mainland Spain, providing rental of lit fibre, IP transit, O&M and colocation services to telecom carriers serving the Balearic market.

IslaLink’s infrastructure includes a 273km submarine cable linking Valencia and Mallorca, a 256km terrestrial fibre ring in the Mallorca island and 11 colocation centres.

Alina Osorio, the president of Fiera Infrastructure, said: “IslaLink’s acquisition represents our first investment in Spain after the opening of our European headquarters in London.

“This transaction also represents our first investment in the telecommunications sector and further diversifies our existing portfolio of high-quality infrastructure assets for the benefit of our investors.”

Esther Garcés, CEO of IslaLink, said: “With the support of EQT, the longstanding relationship with our customers and our dedicated colleagues, we have continued to strengthen IslaLink’s leading position on the Balearic Islands.

“Together with Fiera, we will now continue to deliver on our mission which is to develop and provide indispensable telecom infrastructure in underserved markets.”

EQT Infrastructure acquired IslaLink in November 2014.