Intermediate Capital Group infrastructure arm ICG Infra has acquired a majority stake in TNG, a fibre-to-the-home (FTTH) broadband provider in Kiel, Germany.
The investment by ICG Infra will support TNG’s programme to connect more than 200,000 private and business customers in the country.
TNG’s founders will remain as minority shareholders.
Sven Willert, founder and CEO of TNG, said: “With the support of ICG Infra and their expertise, we will be able to scale up our company in order to satisfy the growing need for future-proof and reliable gigabit internet connections in Germany, which is among the countries in Europe with the lowest penetration of FTTH connectivity.”
ICG Infra has now committed €400m to investments.
Guillaume d’Engremont, head of European infrastructure at ICG, said: “The investment in TNG marks ICG Infra’s first investment in Germany and follows our sustainable investment approach to acquire and manage high quality European infrastructure assets.”
He added: “TNG is a highly scalable FTTH platform, with founders having already demonstrated a unique track-record, and we are delighted to be a part of its future development to accelerate the availability of fibre connectivity in underserved parts of Germany.”
Frank Heiss, managing director at ICG Infra in Germany, said: “TNG benefits from outstanding technological capabilities and we have strong confidence in the management team who have a long history of rolling out fibre in Germany. We are eager to support its ambitious growth plan and help improve connectivity in rural and urban areas.”
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