EQT today announces the intention to combine EQT Infrastructure III (“EQT Infrastructure”) portfolio companies Broadnet Holding AS (“Broadnet”) and GlobalConnect A/S (“GlobalConnect), to create a leading Northern European fiber-based datacom provider and supplier of cloud enabling infrastructure.
Acquired by EQT Infrastructure in May 2018, Broadnet controls over 24,000 km of fiber in Norway through its nationwide back-bone and metro network, connecting more than 90 cities across the country. The company has become the front-running independent fiber-based datacom provider in the Norwegian B2B market, also serving the B2C segment through its HomeNet brand.
GlobalConnect, acquired by EQT Infrastructure in February 2017, is the leading alternative provider of fiber-based B2B data communication services as well as the largest Danish data center provider. The company operates 15,300 km of fiber network and 13,000 sqm of secure co-location space in Denmark and Northern Germany.
The combination of Broadnet’s strong position in connectivity, serving both the B2B and B2C market, and GlobalConnect’s strong position in data centers, will strengthen and expand the merged companies’ multinational offering. Last year, the two companies had combined revenues of approximately EUR 310 million and an EBITDA of EUR 110 million.
Effective today, Martin Lippert, CEO of Broadnet since 2013, has been appointed CEO of the combined company. Lippert comments: “We are proud to announce the combination of Broadnet and GlobalConnect, creating a true challenger to the incumbent telecom operators in Norway, Denmark and Northern Germany. The combined company will be a prominent Northern European fiber-based communication provider, helping local and multinational companies in accelerating its digital transformation by offering and making further investments in advanced digital platforms, services and customer support”.
Daniel Pérez, Partner at EQT Partners and Investment Advisor to EQT Infrastructure, concludes: “EQT sees great opportunities for Broadnet and GlobalConnect in the Northern European markets. EQT believes that this merger will optimally position the combined company to serve customers with mission critical and future proof communication services and cloud enabling infrastructure. EQT will continue to invest in the company and support its mission to become the leading and most agile challenger in the Northern European markets for cloud enabling infrastructure and services”.
The two companies will continue to operate under separate names and brands until further notice.
Daniel Pérez, Partner at EQT Partners and Investment Advisor to EQT Infrastructure, +46 8 506 554 72
EQT Press office, +46 8 506 55 334, email@example.com
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtpartners.com
Broadnet is the largest alternative datacom provider in Norway. The company controls one of two optical fiber networks in Norway in addition to a substantial regional and local network. The group consists of two brands: Broadnet, serving the business and wholesale market, and HomeNet, serving the consumer market.
More info: www.broadnet.no
GlobalConnect is the leading alternative provider of fiber network, data center and managed hosting services in Denmark. The company’s 15,300 km operated optical fiber network covers Denmark and Germany and it has approximately 13,000 sqm of data center space. GlobalConnect was founded in 1998 and employs more than 400 employees.
More info: www.globalconnect.dk