Italian-based investment company, PATRIZIA Infrastructure, announced it has acquired Spanish-based Wifi Sancti Petri and Airwifi, two mid-market broadband and fiber network operators. With the acquisitions, PATRIZIA Infrastructure launches a new “Fibre-to-the-Home” (FTTH) platform aiming to deliver high-speed broadband across rural Spain.
The investments have been made through PATRIZIA’s European Infrastructure Fund II (EIFII), which surpasses nearly $870 million in committed investments and co-investments with these latest deals.
PATRIZIA will leverage its experience managing fiber operators in the U.S, where it is an investor in SiFi Networks and its FiberCity® FTTH program.
The two deals are the sixth platform investment for EIFII, taking the Fund’s committed investments and co-investments to $868 million. They also mark the first deals in Spain for the EIF fund series, diversifying its geographies and strengthening its digital footprint, which includes UK-based broadband operator Connexin.
Matteo Andreoletti, Head of Infrastructure Equity, Europe and North America, at PATRIZIA said: “The huge demands to digitalise and smarten up our cities across the world is accelerating by the day, yet the smaller towns and villages have a vital role to play in this transition. With these strategic investments, we have entered Spain’s $1.6 billion local telecoms market, which provides a hugely exciting opportunity to generate value and attractive returns for our investors by consolidating a highly fragmented market. We will leverage all of our experience in growing mid-market digital infrastructure companies to scale our new FTTH platform into an integral player in Spain’s local broadband market.”
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