Swedish private equity fund EQT Infrastructure has announced the merger of its portfolio companies IP-Only of Sweden and GlobalConnect, which supplies fibre communications and data centre services in Norway, Denmark and Northern Germany.
The merger strengthens the combined company's services for both B2B and B2C customers and provides a basis for accelerated investments in new technologies and fibre deployment. EQT Infrastructure said it is committed to actively supporting the combined company for further growth and expansion in key markets.
IP-Only owns and operates approximately 16,000 km of fibre infrastructure which, together with leased lines, covers 230 out of 290 Swedish municipalities. The operator currently connects more than 200,000 homes and serves more than 3,000 business customers.
GlobalConnect owns and operates approximately 42,000 km of fibre and 18,000 square metres of data centre space. GlobalConnect has around 24,000 business customers and serves around 83,000 private customers in Norway through its Homenet brand.
In 2018, IP-Only and GlobalConnect had combined revenues of approximately EUR 520 million and employed more than 1,500 people in the Nordic region and Northern Germany.
Martin Lippert, CEO of GlobalConnect, will lead the joint organisation. The merger is expected to be implemented and a new organisational structure designed in the coming months. The two companies will continue to operate as separate entities with separate names and brands until further notice.
