Adamo is the world’s fastest growing and largest fiber-to-the-home platform. Spain with a national presence of 1.8 million households served, serving approximately 250,000 retail and wholesale subscribers
STOCKHOLM, October 11, 2021 / PRNewswire / – EQT is pleased to announce that EQT Mid Market Europe (“EQT Private Equity”) has agreed to sell Adamo Telecom (“Adamo” or “the Company”) to Ardian Infrastructure (“Ardian”) .
Based at Barcelona, Spain, Adamo is currently the fastest growing, open access rural fiber-to-the-home (FTTH) platform in Spain. With a unique national presence, the Company provides fixed broadband and mobile services to approximately 250,000 retail and wholesale subscribers.
Adamo pioneered broadband fiber services in the Spanish telecommunications market as the first provider to offer services up to 1 Gb / s. The company employs 300 people, is very customer focused, and provides high quality, high capacity services at competitive prices.
EQT Private Equity acquired a majority stake in Adamo in 2017 and has, with its founders Fredrik Gillström and Xavier Viladegut, along with the rest of the management team, supported Adamo in his mission to bridge the digital divide in rural areas Spain. During the period of ownership of EQT Private Equity, Adamo has grown its fiber network exponentially from 100,000 households crossed in the Catalonia region to 1.8 million households across the country thanks to significant investments in the deployment of organic networks and through network acquisitions. At the same time, the Company has moved from a pure retail model to an open access platform, having secured wholesale contracts with four out of five national operators in the Spanish market, as well as with more than 160 operators. local.
Fredrik Gillström, co-founder of Adamo commented: “This transaction marks an exciting milestone for Adamo. We decided to partner with EQT to unleash the full potential of the company and exploit the market opportunity we saw in 2016. Five years later, we can conclude that we could not have found a better partner on this trip given EQT’s experience in scaling businesses and aligning with values and purpose. Marlet.”
Victor Englesson, Partner and Global Co-Head of TMT at EQT Group, commented: “Adamo is a prime example of the strength of combining EQT’s thematic and focused investment strategy with our local footprint to unleash the full potential of businesses. EQT is extremely impressed with Adamo’s strong development over the past few years and would like to thank Fredrik Gillström for trusting EQT to be Adamo’s partner on this transformative growth journey. We would also like to thank the management team, the board of directors and all employees for their contributions and commitment to Adamo in the compelling position he occupies today. We are confident that Adamo will continue to grow strongly with Ardian and we wish them well for the future. “
Carlos santana, partner and head of EQT’s private equity advisory team at Spain, added: “Adamo was EQT Private Equity’s first investment in Spain, and this represents our second successful release. Adamo is a great showcase of how EQT can support local entrepreneurship with value-added expertise while contributing positively to society. As a Spaniard, I am deeply proud to see the positive impact that Adamo has on the development of from Spain digital infrastructure, especially in areas where access to broadband services is limited. “
The transaction is subject to customary conditions, including receipt of applicable regulatory approvals and is expected to close in the first quarter of 2022.
UBS acted as lead financial adviser, ING as co-financial adviser and Allen & Overy as legal adviser.
EQT press service, [email protected], +46 8 506 55 334
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