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
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
Biometric experts iProov support UK Home Office with technology to assure genuine presence13.11.2018 03:01 | Tiedote
iProov, a leading provider of biometric facial verification technology, today announced that it will play a key role in a multi-year contract with the UK Home Office for the provision of smartphone-based digital identity verification. This new capability will assist the UK Home Office in delivering secure, easy-to-use interactions with individuals in accordance with the digital services agenda. The app to support applications for the EU Exit Settlement Scheme includes this technology. The new digital service, which will be provided in partnership with immigration and border management company WorldReach Software with support from Dutch contactless document specialist ReadID, allows secure enrolment onto Home Office services using a smartphone app. The process involves biometric matching of the user’s selfie against the image read from a user’s passport chip, using iProov’s unique Flashmark technology to provide robust liveness detection. iProov is unique in its ability to ‘assure genui
Project Management Institute Launches New Reports on Navigating the New Normal of Disruptive Technologies During Seventh Annual PMO Symposium®12.11.2018 19:43 | Tiedote
Project Management Institute (PMI) today unveiled three thought leadership reports focused on navigating the new normal of disruptive technologies. The new reports were released during the organization’s seventh annual PMO Symposium® in Washington D.C., where more than 650 of the world’s top project management office (PMO) executives, organizational leaders and senior decision makers have gathered to discuss how disruptive technologies—such as cloud solutions, internet of things (IoT) and artificial intelligence (AI)—have changed the way organizations do business and transformed entire industries. Throughout 2018, PMI and partners, have been exploring disruptive technologies and how organizations are using them to achieve their goals in these changing times. While no one single factor can drive benefits realization, leading organizations understand that proven project management practices lead to greater success and less waste. Produced in partnership with Accenture, PMI’s report — For
Separate Independent Studies Found that PREVENA™ Therapy Reduced Complications Following Breast Cancer Surgery and Breast Reconstruction12.11.2018 17:00 | Tiedote
KCI, an Acelity Company, announced today that recently published data stemming from two studies demonstrate that closed incision negative pressure therapy (ciNPT) with the PREVENA™ Incision Management System reduced postsurgical wound complication potential in patients recovering from oncological breast surgery and breast reconstruction, respectively. One study titled, “The Impact of Closed Incision Negative Pressure Therapy on Postoperative Breast Reconstruction Outcomes,” showed that patients who received ciNPT with the PREVENA™ System had significantly lower rates of overall complications and returns to the operating room compared to those in the standard of care (SOC) for incision management after breast reconstruction post-mastectomy group. In addition, patients in the PREVENA™ Therapy group overall had a shorter mean time to complete removal of all drains than the SOC group, averaging 9.9 days versus 13.1, respectively.1 In a separate study titled, “Closed Incision Negative Press
Itron Invites Innovators to Participate in Smart City Challenge12.11.2018 16:45 | Tiedote
Itron, Inc. (NASDAQ: ITRI) is calling for hardware and software vendors to submit their products and solutions to the inaugural Itron Smart City Challenge. IoT solution providers will compete for the chance to work with leading smart cities, including Glasgow and the City of London, to deploy breakthrough solutions. Applications are due by Jan. 4, 2019. Participants are invited to develop solutions to address challenges defined by the participating cities. Glasgow: Improve travel choices and experience during events in the city while promoting the overall city center offer The City of Glasgow is one of the world’s top sporting cities and a major destination for conferences and concerts. Many thousands of people come to the city on a regular basis to experience its year-round calendar of events. However, this brings significant challenges in getting people safely and conveniently around the city to their location. It also impacts residents and particularly, the public transport system.
US-Based Lineage Logistics Acquires UK Cold Storage, Frozen Food and Logistics Service Provider Yearsley Group12.11.2018 15:00 | Tiedote
Lineage Logistics Holdings, LLC (“Lineage” or the “Company”), the world’s most innovative and trusted provider of temperature-controlled supply chain solutions, today announced it has acquired Yearsley Group Limited (“Yearsley”), a leading temperature-controlled logistics service provider and frozen food distributor in the UK. Financial terms of the transaction were not disclosed. “Yearsley has demonstrated a strong commitment to developing longstanding, bespoke customer relationships that is consistent with how we do business at Lineage. Bringing Yearsley into the Lineage family enables us to better serve customers in the UK market and further reinforces our international logistics capabilities,” said Greg Lehmkuhl, President and Chief Executive Officer of Lineage Logistics. “Our acquisition by Lineage is a tremendous opportunity for Yearsley customers and employees alike,” said Jonathan Baker, Chief Executive of Yearsley Group. “Lineage’s commitment to innovation and service is unmat
B2BX Cryptocurrency Exchange Secures Full Regulatory Approval in Estonia12.11.2018 12:29 | Tiedote
B2BX Exchange, a leading professional digital asset trading platform, announced today that it has received approval for a regulatory licence from the Estonian Financial Intelligence Unit (FIU). The licence means that B2BX will be able to operate as a completely regulated exchange for trading cryptocurrencies and makes it one of the first exchanges in Europe to secure this form of recognition. B2BX Exchange, part of the B2Broker group of companies, applied for its licence in Estonia due to the country’s reputation for being highly innovative and technology-friendly. Furthermore, the EU-member country continues to take a leading stance in the advancement of blockchain technologies and cryptocurrency regulation. The licence, which comes into effect shortly, will open the door for B2BX Exchange to provide an extended level of services which currently includes a crypto-to-crypto service and soon to be crypto-to-fiat, as well as providing peace of mind for B2BX Exchange users by way of incre
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme