EQT agrees to sell Adamo to Ardian

News Broadband Spain 11 OKT 2021
EQT agrees to sell Adamo to Ardian

Private equity group EQT has announced that the EQT Mid Market Europe fund has agreed to sell Adamo Telecom of Spain to Ardian Infrastructure, a French private investment firm. Barcelona-based Adamo is an open access rural fibre-to-the-home (FTTH) platform and provides fixed broadband and mobile services to approximately 250,000 retail and wholesale subscribers. It was the first Spanish supplier to offer gigabit connections.

Adamo was founded by Fredrik Gillstrom and Xavier Viladegut and employs 300 people. EQT acquired a majority stake in it in 2017, since when Adamo has extended its fibre network from 100,000 homes passed in the Cataluna region to 1.8 million homes nationwide. It has done so via investments in organic deployment and acquisitions. It has also switched from a pure retail model into an open access platform and has obtained wholesale contracts with four out of five national operators as well as with over 160 local operators.

The transaction is subject to customary conditions, including receipt of applicable regulatory approvals, and is expected to close in Q1 2022. UBS acted as lead financial advisor, ING as financial co-advisor and Allen & Overy as legal advisor.

Categories:

Fixed

Companies:

Adamo

Countries:

Spain

Tags:

Fibre, Wireless, Internet Access, Wholesale, Consumer, M&A buyouts & divestments

Related Articles

SPAIN 21 JUL

EQT buys Adevinta Spain's online classifieds portfolio

EQT said it has agreed to buy the online classifieds portfolio of Spain's Adevinta via the EQT X fund for an undisclosed sum. The businesses include some of Spain's most well-established online classifieds platforms in the automotive, jobs and real estate markets, including Coches.net, InfoJobs, Milanuncios, Fotocasa and Habitaclia.

SPAIN 27 JUN

Spain's Adamo to lay off over 30% of workforce - report

Rural broadband provider Adamo, majority owned by France's Ardian, has informed trade unions that it intends to lay off a total of 83 workers in a redundancy process, equivalent to around 31 percent of its workforce, reports Expansion. The collective dismissal process (ERE) will mostly affect workers at the company's Barcelona HQ, as well as staff located in Madrid, Seville and Cantabria.

SPAIN 28 MRT 2024

Spain's Adamo adds over 500,000 fibre homes to reach 2.7 mln

Spanish broadband provider Adamo, majority owned by France's Ardian, has continued expanding its FTTH network throughout the country to reach 2.7 million homes at the end of 2023, according to figures seen by website Bandaancha.

SPAIN 31 AUG 2023

Spain's Adamo offers gigabit convergent plan for EUR 15/mth for 9 months

Spanish rural broadband provider Adamo has joined the 'back to school' price war being waged by the majority of the country's operators by cutting the price of its convergent plan with gigabit fibre to EUR 15 a month for 9 months. In addition to fibre broadband at download speeds of 1Gbps, the rate comes with 50GB of mobile data, an Amazon Eero Wi-Fi 6 mesh router and an Adamo TV package for free for 3 months.

SPAIN 23 JUN 2023

Infranity contributes EUR 104 mln to Adamo funding round

Paris-based asset management fund Infranity said it has agreed to provide EUR 104 million in financing to help expand the FTTH network of Spanish broadband provider Adamo. In a short statement, Infranity confirmed its participation as one of the leading parties in Adamo's latest financing round, having previously invested in the company in 2021.

SPAIN 15 JUN 2023

Spain's Adamo secures additional EUR 350 mln funding for FTTH rollout

Spanish broadband provider Adamo said it has raised an additional EUR 350 million in funding to continue the expansion of its FTTH network throughout the country. The company, now majority owned by Ardian, confirmed that a consortium of 11 banks, led by ING and Societe Generale as financial advisors, contributed to the sustainable financing round, which followed the EUR 600 million raised back in July 2021.

SPAIN 16 MEI 2023

Spain's Adamo debuts pay-TV offer

Spanish broadband provider Adamo has become the latest operator to enhance its offer with a dedicated TV platform. The company has teamed up with Masmedia to launch Adamo TV, described as a 360-degree television platform that allows subscribers to view live and on-demand content on multiple mobile devices and smart TVs via the corresponding app, as well as on PCs and numerous browsers.

SPAIN 10 FEB 2023

Ardian, Macquarie doen bod van EUR 4 miljard op vast netwerk Vodafone Spanje - rapport

De Franse private equity firma Ardian, eigenaar van de Spaanse breedbandprovider Adamo Telecom, en het Australische Macquarie Capital, aandeelhouder van wholesale glasvezelprovider Onivia, zijn geïnteresseerd in een afzonderlijk bod op het vaste netwerk van Vodafone Spanje. Dit zeggen marktbronnen in het lokale zakenblad Cinco Dias.

SPAIN 10 FEB 2023

Ardian, Macquarie to bid EUR 4 bln for Vodafone Spain fixed network - report

French private equity firm Ardian, owner of Spanish broadband provider Adamo Telecom, and Australia's Macquarie Capital, a shareholder in wholesale fibre fibre provider Onivia, are interested in separately bidding for Vodafone Spain's fixed network, according to market sources cited by local business daily Cinco Dias. The rumours follow a recent report indicating that Vodafone Spain hired investment bank Evercore to look for buyers for its fixed network with a view to buying time for the business and reduci

SPAIN 2 DEC 2022

Spain's Adamo offers EUR 150 discount and free gifts in festive promo

Spanish broadband provider Adamo has launched a festive promotion to encourage new users to subscribe to its convergent fibre and mobile plans. The rural internet specialist is offering new users a EUR 150 discount on the price of its convergent plans in exchange for a 1-year contract with the tariff that includes 1Gbps fibre broadband, 120GB of shared mobile data, a landline and unlimited calls costing EUR 37 a month for 6 months instead of EUR 62 a month.

SPAIN 17 NOV 2022

Spain's Adamo cuts gigabit fibre price to EUR 1 for 4 months

Spanish broadband provider Adamo has launched a Black Friday-themed offer to encourage new users to subscribe to its convergent fibre and mobile packages. The rural internet specialist is offering its convergent plan with 1Gbps fibre broadband, 120GB of shared mobile data, a landline and unlimited calls for EUR 1 a month for 4 months on a 12-month contract instead of EUR 68 a month, a total saving of EUR 268. The promo is available to new customers from 15 November to 30 November.

SPAIN 12 OKT 2022

Adamo, Avatel, Telefonica awarded over EUR 244 mln in rural fibre subsidies

Spain's Ministry of Economic Affairs and Digital Transformation has announced the preliminary details of its latest UNICO-Broadband call to bring fibre to underserved localities all over the country. A total of EUR 244.6 million in funding is being made available to extend broadband networks at speeds of no less than 100 Mbps to 728,500 homes and office premises.

SPAIN 2 AUG 2022

Spain's Avatel acquires Lyntia Access for EUR 1 bln - report

Spanish telecommunications provider Avatel, the country's fifth largest fibre-optic operator, has agreed to acquire neutral fibre business Lyntia Access from France's Antin Infrastructure Partners for close to EUR 1 billion, according to unnamed sources cited by Bloomberg. The agreement, subsequently confirmed by El Pais and other local news sites, will enable to Avatel reach well over 4 million fibre premises and consolidate its leading position in the rural infrastructure sector after acquiring more than

SPAIN 6 JUL 2022

Spain's Adamo slashes convergent plan to EUR 17 for 6 months

Spanish broadband provider Adamo, now owned by French private investment firm Ardian, has launched a summer promotion to persuade new users to subscribe to its convergent and standalone fibre plans, now available from EUR 17 a month. Under the promo, the operator is offering its convergent plan with 1Gbps fibre broadband and 50GB of mobile data for EUR 17 a month for 6 months on a 12-month contract instead of EUR 44 a month, a total saving of EUR 162. The offer is available until 21 August for new users onl

ICELAND 6 JUL 2022

Siminn's sale of Mila to Ardian gets preliminary competition refusal

Icelandic telecoms operator Siminn said that the national Competition Authority has come to the preliminary conclusion that French investment fund Ardian's proposed acquisition of Mila from Siminn would distort competition and would not gain its approval without conditions or more explanation from the parties. The deadline for responding to the objection is 15 July, but if they request conciliation talks, the cut-off date for the probe automatically extends until 18 August.

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.