Stonepeak Infrastructure Partners has agreed to acquire a majority stake in euNetworks, a European bandwidth infrastructure company. No financial terms were disclosed. EuNetworks’ backers include Columbia Capital.
LONDON & NEW YORK–(BUSINESS WIRE)–euNetworks and Stonepeak Infrastructure Partners announced today the successful close of the previously announced transaction to acquire a majority interest in euNetworks.
“We’re very pleased to have closed our transaction,” said Brady Rafuse, Chief Executive Officer of euNetworks. “I genuinely believe the combination of Stonepeak, Columbia and many of our previous investors coming together as the new euNetworks represents a fantastic opportunity for our customers, our people, our partners and the communities in which we operate.”
“euNetworks has distinguished itself in an increasingly connected society where fibre is core to communications infrastructure. We’re delighted to partner with Brady and the team,” said Trent Vichie, Co-Founder and Co-CEO of Stonepeak. Brian McMullen, Senior Managing Director of Stonepeak, added, “We’re absolutely committed to building further on the unique position of euNetworks and look forward to investing up to an additional $500 million of equity capital to support the growth of the company.”
“This transaction represents a great step forward for the company as it addresses the many compelling opportunities it is presented with,” said John Siegel, Partner from Columbia Capital. “It’s a great time for the team and we’re excited to maintain a material interest in the company as the journey continues.”
euNetworks and Stonepeak announced the signing of the definitive merger agreement on 6 November 2017. euNetworks was advised by Barclays Bank PLC, acting through its Investment Bank, and J.P. Morgan represented Stonepeak.
euNetworks is a bandwidth infrastructure company, owning and operating 14 fibre based metropolitan networks connected with a high capacity intercity backbone covering 49 cities in 15 countries. The company leads the market in data centre connectivity, directly connecting over 300 today. euNetworks is also a leading cloud connectivity provider, directly connecting 13 cloud platforms with access to a further 7. The company offers a targeted portfolio of metropolitan and long haul services including Dark Fibre, Wavelengths, and Ethernet. Wholesale, finance, content, media, data centre and enterprise customers benefit from euNetworks’ unique inventory of fibre and duct based assets that are tailored to fulfil their high bandwidth needs.
For further information visit www.eunetworks.com.
About Stonepeak Infrastructure Partners
Stonepeak Infrastructure Partners is an infrastructure private equity firm. Stonepeak invests in businesses comprised of hard assets with leading market positions primarily in the following sectors: Communications, Energy, Power & Renewables, Transportation, Utilities, & Water. Stonepeak, founded in 2011 and headquartered in New York, currently manages approximately $13.5 billion of capital for its investors.
About Columbia Capital
Columbia Capital is a venture capital firm based in Alexandria, VA. Since 1989, Columbia have been partnering with top executives to help build communications, media and technology companies and to deliver top quartile returns to their investors. They currently manage approximately $3.0 billion dollars of total capital and are actively investing in a sixth fund, which has total commitments of $500 million. Columbia has offices in Alexandria, VA and Waltham, MA.