EQT Infrastructure and Stonepeak to acquire DELTA Fiber

• EQT Infrastructure and Stonepeak to acquire DELTA Fiber, a leading owner and operator of fiber-to-the-home telecom infrastructure in the Netherlands
   
• EQT Infrastructure and Stonepeak are committed to investing significantly into the continued digitization of the Dutch society by accelerating nationwide fiber-to-the-home connectivity to B2C and B2B customers in suburban and rural areas of the country

• DELTA Fiber will benefit from EQT and Stonepeak’s combined expertise in digital infrastructure and a strong industrial board. Together, the parties are committed to support DELTA Fiber and its management’s ambition to connect two million Dutch households to fiber by 2025

EQT and Stonepeak are pleased to announce that EQT Infrastructure V (“EQT Infrastructure”) and Stonepeak have agreed to acquire DELTA Fiber (the “Company”) from EQT Infrastructure III. Following the closing of the transaction, each party will hold a 50 percent stake in the Company and co-control DELTA Fiber through a strong industrial board.

Headquartered in Schiedam, the Netherlands, DELTA Fiber provides high-speed broadband, TV and fixed and mobile telephony to Dutch households and businesses connected to its superior fiber-to-the-home (“FTTH”) network. DELTA Fiber owns and operates approximately 50,000 km fiber-based network infrastructure that connects approximately 900,000 households and businesses across the Netherlands. The Company employs approximately 600 people and was established as DELTA Fiber in 2018, following a combination of DELTA and CAIW, which were acquired by EQT Infrastructure III in February 2017 and January 2018, respectively.

With 20,000 new connections per month, DELTA Fiber today is one of the largest and fastest growing fiber companies in the Netherlands and is on its way to reaching one million connections by the end of 2021. DELTA Fiber benefits from a rapid growth in data consumption and an increased demand for fast and stable internet. The Company’s new network rollout will be based on the latest fiber technology (XGS-PON) that enables speeds up to 10 Gbps. This is the prelude to its 25G-PON technology that enables speeds up to 25 Gbps.

DELTA Fiber will benefit from EQT’s and Stonepeak’s significant combined expertise in the digital infrastructure sector and vast track record in fiber rollout across the Netherlands and Europe. Both parties are committed to investing significantly in the continued digitalization of the Dutch society by accelerating nationwide B2C and B2B FTTH connectivity in suburban and rural areas. Moreover, the Company’s fiber broadband is more sustainable and energy efficient than the legacy networks, with approximately 40-60 percent lower energy consumption.

Together, EQT Infrastructure and Stonepeak will support DELTA Fiber and its management team in its ambition to reach a footprint of two million fiber connections by 2025, thereby covering a quarter of the country. The Company will also be supported by a strong advisory board with seasoned industry experts who possess broad expertise within digital infrastructure and FTTH rollout. 

Matthias Fackler, Partner within EQT Infrastructure’s Advisory Team, said, “We are deeply impressed by DELTA Fiber’s management and employees’ strong performance over the past few years. EQT Infrastructure is excited to support their continued journey of digitizing the Netherlands by providing high quality broadband infrastructure to Dutch households and businesses. EQT Infrastructure shares this vision with Stonepeak whose vast experience in the digital infrastructure space makes them an ideal partner to support DELTA Fiber in its next phase of evolution and growth.”

Brian McMullen, Senior Managing Director at Stonepeak, said, “Stonepeak has long recognized the mission critical nature of broadband in today’s society and we look forward to working with Marco and the team to accelerate the additional rollout of DELTA Fiber’s network across the Netherlands. We are delighted to partner with a like-minded peer in EQT Infrastructure on this transaction, which will accelerate DELTA Fiber’s ability to connect households throughout the country with reliable broadband.”

Cyrus Gentry, Managing Director at Stonepeak, added, “DELTA Fiber, with its unique asset base and industry-leading management team, represents a compelling investment opportunity that will complement Stonepeak’s existing global portfolio of residential broadband-focused platforms.”

Marco Visser, CEO of DELTA Fiber, said, “Two leading international investors joining DELTA Fiber confirms our success in recent years. That EQT is choosing to invest in our company again, together with Stonepeak, shows confidence in our ambitious plans for the future. Together they provide us with a solid foundation for further growth.”

The transaction is subject to customary conditions and approvals. It is expected to close in December 2021. With the acquisition of a stake in DELTA Fiber, EQT Infrastructure V is expected to be 60-65 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).

Contacts
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
Stonepeak, Kate Beers, beers@stonepeakpartners.com +1 646-540-522

About EQT
EQT is a purpose-driven global investment organization with more than EUR 71 billion in assets under management across 27 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with over $39 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications and digital infrastructure, transport and logistics, water, energy transition, and power and renewable energy.

About DELTA Fiber
DELTA Fiber is one of the fastest growing fiber companies in the Netherlands. About 900,000 addresses throughout the Netherlands are already connected to the DELTA Fiber network, with around 20,000 new connections being added every month. DELTA Fiber’s ambition is to provide as many households and companies as possible with access to fast internet. And to grow to two million connections by 2025.

More info: www.deltafibernederland.nl/en

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