Fund manager HRL Morrison & Co has acquired a majority stake in a Dutch fibre network platform from Ancala Partners.
The manager’s Morrison & Co Growth Infrastructure Fund has paid an undisclosed sum to buy the interest in Fore Freedom from funds managed by Ancala Partners.
Fore Freedom is a developer, owner and operator of fibre networks to businesses across the Netherlands.
Jason Boyes, head of Europe for Morrison & Co, said: “As demand for data connectivity continues to surge, we believe there is significant potential to extend Fore Freedom’s fibre networks footprint into more Dutch business parks that currently rely on slower and less energy-efficient connectivity technologies.
“We also look forward to working closely with Fore Freedom to provide essential broadband connectivity services to even more businesses across Europe. We have a proven track record in delivering improved connectivity and sustainable efficiencies through our digital infrastructure investments.”
Vincent Gerritsen, head of private markets, Europe for Morrison & Co, said: “We are actively expanding our European portfolio for our investors, and this uniquely sourced investment is a positive recognition of our strength in digital connectivity.”
Ancala acquired, through its funds, its majority interest in Fore Freedom in September 2018. The key founders maintain an interest in the business.
Spence Clunie, managing partner, Ancala Partners, said: “We are delighted to have supported Fore Freedom’s accelerated development into a leading independent fibre network provider in the Dutch market.”
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