EQT’s latest global infrastructure fund and OMERS Infrastructure Management have paid an undisclosed sum to buy German fibre optic internet provider Deutsche Glasfaser from KKR Infrastructure and Reggeborgh.
Establishment in 2011, Deutsche Glasfaser’s network consists of more than 30,000km of fibre-optic infrastructure.
EQT said Deutsche Glasfaser will be combined with EQT Infrastructure IV portfolio company Inexio, the German fibre-optic broadband networks provider it acquired last year.
EQT Infrastructure will own 51% in the combined group and OMERS will own 49%.
The duo said the combined group plans to invest over €7bn over the coming years to further accelerate the fibre roll-out pace in the country’s rural regions.
Marco Pugliese, managing director at OMERS Infrastructure, said: “OMERS is eager to support Deutsche Glasfaser’s and Inexio’s ambitious growth plans.
”This investment follows OMERS recent investment to deploy fibre-to-the-home to more than 8m homes in France and meets OMERS Infrastructure’s strong desire to seek exposure to essential digital infrastructure in high-quality jurisdictions.”
Matthias Fackler, partner at EQT Partners, said: “EQT has a long history of developing strong fibre companies and looks forward to levering this experience, and together with OMERS, contribute to the German government’s plan to deliver nationwide gigabit Internet access by 2025.
“Deutsche Glasfaser and Inexio combined will play a vital role in enabling digital inclusion and sustainable economic growth.”