Stonepeak Infrastructure Partners Signs Agreement to Acquire Majority Interest in euNetworks
euNetworks and Stonepeak Infrastructure Partners announced today the signing of a definitive merger agreement, through which Stonepeak will acquire a majority interest in the company. The transaction will also provide euNetworks with up to $500 million of committed growth capital for both organic and inorganic development. For Stonepeak the investment represents an ideal platform to enter the bandwidth infrastructure market. Brady Rafuse will remain the Chief Executive Officer of the company and the existing euNetworks investors will continue to hold a material interest in the company’s new capital structure.
This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171106005575/en/
Brady Rafuse, CEO of euNetworks (Photo: Business Wire)
euNetworks owns and operates dense fibre based metropolitan networks in 14 cites, connected by an intercity backbone covering 49 cities in 15 countries. These networks directly connect into over 300 data centres and more than 1,300 further cell towers, cable landing stations and enterprise buildings. As a horizontally integrated bandwidth infrastructure provider, euNetworks is focused on delivering scalable, fibre based solutions to a customer base that is at the centre of the communications revolution. Customer needs have shaped euNetworks’ program of network investment and development, delivering a highly differentiated footprint to the market.
“I am thrilled that Stonepeak is becoming an investor in euNetworks,” said Brady Rafuse, Chief Executive Officer of euNetworks. “This agreement offers Stonepeak the platform to enter the bandwidth market, and it provides euNetworks with a fantastic opportunity to accelerate growth and deliver more for our customers. We have demonstrated our ability to remain focused on what we do well, while investing in and developing our network footprint. But we’ve seen the nature of the opportunity continue to grow exponentially and see Stonepeak as the right partner for the next phase of our growth. We are genuinely excited at what this transaction and partnership offers our customers, our people and our existing investors.”
"Fiber provides the backbone of our increasingly connected society and is one of our focus sectors in communications infrastructure,” said Trent Vichie, Co-Founder and Co-CEO of Stonepeak. “euNetworks has done an exceptional job delivering critical bandwidth infrastructure to its customers in a market characterized by rapid growth in data traffic and increasingly complex connectivity requirements. We are delighted to partner with Brady and the euNetworks team in their next phase of growth.” Brian McMullen, Managing Director of Stonepeak added, “euNetworks operates in a market where the key drivers of bandwidth growth are data centre to data centre, cloud and carrier connectivity. euNetworks has developed a fiber footprint across Europe that is highly differentiated in addressing that demand. We are excited to back the euNetworks team and look forward to supporting the continued growth of the platform.”
"We’ve been an investor in euNetworks since 2009 and we’re delighted to be staying with the company on its continuing journey.” said John Siegel, Partner from Columbia Capital. "We’re proud of what the team has accomplished to date and believe they will continue to create meaningful value as a leader in the bandwidth infrastructure market.”
Existing euNetworks investors, including Columbia Capital and Greenspring Associates, will continue to hold a material interest in the company moving forward and will participate in future growth equity investments.
The transaction, which is only subject to customary regulatory approvals, is expected to close in the coming months. euNetworks was advised by Barclays Bank PLC, acting through its Investment Bank and J.P. Morgan represented Stonepeak Infrastructure Partners.
euNetworks is a bandwidth infrastructure provider, 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 please 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 $11.3 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.
Hannah Fox, Senior Director, Marketing
+44 20 7952 1338 office | +44 7717 896 446 mobile
Stonepeak Infrastructure Partners:
Brian McMullen, Managing Director
(212) 907-5100 office
Don Doering, Administrative Partner, Columbia EUN Partners V LLC
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
FLIR Introduces Assisted Docking Technology and First Boat Manufacturer Partner22.1.2019 09:00 | Pressemelding
FLIR Systems, Inc. (NASDAQ: FLIR) today announced the Raymarine DockSense™ assisted docking system, the marine industry’s first intelligent object recognition and motion sensing assisted docking solution for recreational boating. DockSense system uses FLIR machine vision camera technology and video analytics to integrate intelligence gathered from surrounding imagery with the vessel’s propulsion and steering system to assist boat owners in tight quarter docking maneuvering. Additionally, FLIR announced that Prestige Yachts, a Groupe Beneteau brand, will become the first to demonstrate the technology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190122005313/en/ Docking a boat can be a stressful experience, even for the most experienced captains. Often wind and tides make the task more difficult, and docking mishaps can become expensive repairs and safety hazards. The DockSense system is designed to augment a captain's boat
BIOCERES and UNION ACQUISITION CORP. announce Bioceres’ unaudited quarterly operating results for the period ended December 31, 201822.1.2019 08:52 | Pressemelding
Bioceres, a leading Latin American agricultural biotech company (the “Company”), and Union Acquisition Corp. (NYSE: LTN) (“UAC”), a special purpose acquisition company, today announced the Company’s unaudited operating results for the quarter ended December 31, 2018. The parties had previously announced the execution of a definitive share exchange agreement (the “Exchange Agreement”) pursuant to which the Company will contribute its agricultural solutions business in exchange for equity of UAC. The Company reported unaudited revenues of $62.6 million during the quarter ended December 31, 2018, which represents a 33% growth rate over the same period a year ago. The adjustments and the translation mechanism from the application of IAS 29 had a positive impact of $8.7 million during the quarter ended December 31, 2018. Additionally, the Company’s management team expects Gross Profit and EBITDA margin performance to exceed that of the same period a year ago. Members of UAC’s sponsor and, o
Tradeshift Announces Record Year and Exceptional Growth in Every Category Heading Into 201922.1.2019 08:00 | Pressemelding
Tradeshift, the leader in supply chain payments and marketplaces, today announced results from the fourth quarter of 2018, marking the eleventh quarter in a row of successive growth and beating targets. Tradeshift’s fourth quarter growth stats announced today include: YoY new bookings grew 250 percent New total contract value grew by $59M in Q4 YoY revenue grew 178 percent (trailing 12 months) Gross Merchandise Volume (GMV) more than doubled, growing by 112 percent YoY Tradeshift Go experienced high growth with 12 deals signed in Q4 Signed App partner Transfermate, allowing Tradeshift customers to easily receive and make foreign currency payments Expanded Partner ecosystem with two additional BPO partners signed The company’s customer roster continued strong growth this quarter adding a record 49 new customers, including Charter Hall, HSBC, Econocom and more. “2018 was a record setting operational year for us,” said Christian Lanng, CEO and co-founder of Tradeshift. “It’s been so grati
Bridgestone Europe To Acquire TomTom Telematics For €910 Million Cash Consideration22.1.2019 06:58 | Pressemelding
Bridgestone Europe NV/SA (“Bridgestone”), a subsidiary of Bridgestone Corporation in EMEA, has entered into an agreement with TomTom to acquire its telematics business, for a cash consideration of €910 million. The transaction will bring together the world’s largest tyre and rubber company with the number one provider of digital fleet solutions in Europe, creating a leading data platform for connected vehicles. TomTom Telematics will accelerate Bridgestone on its journey to becoming a mobility solutions leader in the region, and the combination of both companies’ offerings will allow Bridgestone to cross-sell tyres and solutions to a larger customer base. Furthermore, the data access will enhance Bridgestone’s virtual tyre development and testing as well as connected tyre innovation benefiting all customers including OEMs. New social, economic and technological megatrends are pushing the pace of change in the automotive industry and the future of vehicles is connected, autonomous, shar
Ferring, Rebiotix and Karolinska Institutet Extend Collaboration to Research Next Generation of Microbiome Treatments22.1.2019 06:00 | Pressemelding
Ferring Pharmaceuticals and Karolinska Institutet announced today a five-year extension of their collaboration to explore the potential of the human microbiome in reproductive medicine and women’s health and gastroenterology. The collaboration brings together specialist expertise from Karolinska Institutet in early stage research, Rebiotix Inc. (acquired by Ferring in 2018), a late-stage clinical microbiome company, and Ferring’s therapeutic area and commercialisation capabilities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190121005428/en/ The extension includes six reproductive health clinical studies of approximately 6,000 women and babies and four gastroenterology studies of approximately 3,000 adults and children, to further investigate the role of the microbiome in areas of high unmet need including recurrent pregnancy loss, preterm birth and inflammatory bowel disease. “The extension of this partnership presents a
GA Telesis Board Appoints Norman Liu as an Independent Director22.1.2019 06:00 | Pressemelding
GA Telesis, LLC, a leading global commercial aviation integrated services provider, announces that its Board of Directors will appoint Norman C.T. Liu as an Independent Board Member effective February 1, 2019. Norm brings over 35 years of experience in aviation financing, infrastructure investing and investment banking. He is the former Chairman, President and CEO of GE Capital Aviation Services (“GECAS"), a world leader in commercial aircraft leasing and financing. He retired from GE at the end of 2016 after 30 years of service and is currently a senior advisor to various companies in the infrastructure and aviation sectors. He was an Advanced Leadership Fellow at Harvard in 2017 and also serves as an Adjunct Professor at University College Dublin in Ireland. He received his bachelor’s degree from Yale University and his MBA from Harvard Business School. “We are pleased that Norm will be joining our Board to participate in the explosive growth of our franchise,” said Abdol Moabery, Pr