Business Wire

Stonepeak Signs Recapitalization of Portfolio Company euNetworks Alongside Strategic Investments from APG and IMCO


Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the recapitalization of euNetworks, a Western European bandwidth infrastructure company. The recapitalization is being effectuated as a sale of euNetworks anchored by a Stonepeak managed vehicle alongside strategic investments from APG Asset Management (APG) and Investment Management Corporation of Ontario (IMCO).

This press release features multimedia. View the full release here:

euNetworks is a leading data center and cloud connectivity provider focused on delivering scalable, fiber-based products and solutions to customers across the wholesale, finance, content, media, data center and enterprise industries. The company owns and operates 17 dense fiber-based metropolitan city networks, connected with long haul networks covering 53 cities in 17 countries. They lead the data center connectivity market in Europe, directly connecting over 510 data centers today, with further indirect connections.

Stonepeak first acquired a majority interest in euNetworks in January 2018, and since that time the company has increased the number of connected data centers by over 60%, announced three acquisitions, and optimized the capital structure through incremental debt and equity funding. Operationally, the company has continued to scale its organization, growing its employee base by over 20% to support its growth while implementing several strategic initiatives to solidify its leadership position in sustainability.

Cyrus Gentry, Managing Director and Head of Communications Europe at Stonepeak, said, “From our initial investment in euNetworks in 2018, the company has developed and accelerated its strategy, and has become a market leader in bandwidth infrastructure in Europe. We are incredibly proud of the progress the company has made to date. APG and IMCO share our enthusiasm for euNetworks’ future and collectively we look forward to working closely with the company as it continues to grow over the coming years and as Stonepeak continues to grow its presence in Europe.”

Paula Cogan, Chief Executive of euNetworks, said, “With this transaction we will enhance our position as we work to grow our network solutions and offerings to our customers who are at the center of the technology transformation. With Stonepeak, APG and IMCO’s support, we will continue to focus on building and densifying our networks in key European cities and across the region, connecting more data centers, and key sites with fiber. I am excited for the opportunities we have ahead and it is with great pride that I lead the euNetworks team forward.”

Arjan Reinders, Head of Infrastructure Europe at APG, said, “We have been impressed by euNetworks’ focus on sustainable growth and providing compelling connectivity solutions to its customers. We are thrilled to be entering into this partnership, on behalf of our pension fund client ABP, and are eager to support the euNetworks team as they continue to develop and further their strategic vision.”

Matthew Mendes, Managing Director and Head of Infrastructure of IMCO, said, “Since our initial investment in euNetworks in 2018, we’ve been proud to partner with our co-shareholders on driving the company’s growth and progress made in ESG. euNetworks represents the kind of digital infrastructure platform IMCO seeks to invest in globally – a differentiated strategy, mission critical network and partner of choice for the industry. We have confidence in euNetworks’ high caliber management team and are excited to be part of euNetworks’ future at this stage in the company’s trajectory.”

The transaction is expected to close in the second half of 2023 subject to regulatory approvals and other closing conditions.

J.P. Morgan is acting as sole financial advisor to euNetworks. Simpson Thacher & Bartlett LLP acted as legal counsel to Stonepeak. UBS and Baker McKenzie acted respectively as financial and legal advisors to APG. Gowling WLG acted as legal counsel to IMCO.

About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $55.7 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, and social infrastructure. Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney. For more information, please visit

About euNetworks
euNetworks is a bandwidth infrastructure company, owning and operating 17 fibre based metropolitan networks connected with a high capacity intercity backbone covering 53 cities in 17 countries. The company leads the market in data centre connectivity, directly connecting over 510 today. euNetworks is also a leading cloud connectivity provider, directly connecting to all key cloud platforms with access to additional platforms. 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.

About APG Asset Management
As the largest pension provider in the Netherlands APG looks after the pensions of 4.8 million participants. APG provides executive consultancy, asset management, pension administration, pension communication and employer services. We work for pension funds and employers in the sectors of education, government, construction, cleaning, housing associations, sheltered employment organizations, medical specialists, and architects. APG manages approximately €522 billion (February 2023) in pension assets. With approximately 3,000 employees we work from Heerlen, Amsterdam, Brussels, New York, Hong Kong, Shanghai and Beijing. Visit our website:

About IMCO
The Investment Management Corporation of Ontario (IMCO) manages $73.3 billion of assets on behalf of our clients. Designed exclusively to drive better investment outcomes for Ontario's broader public sector, IMCO operates under an independent, not-for-profit, cost recovery structure. We provide leading investment management services, including portfolio construction advice, better access to a diverse range of asset classes and sophisticated risk management capabilities. As one of Canada's largest institutional investors, we invest around the world and execute large transactions efficiently. Our scale gives clients access to a well-diversified global portfolio, including sought-after private and alternative asset classes. Follow us on LinkedIn and Twitter @imcoinvest.

To view this piece of content from, please give your consent at the top of this page.

Contact information

Kate Beers
+1 646-540-5225

Hannah Britt
+44 7717 896 446

Dick Kors
+31 (0)6 3402 0751

Annette Robertson
+1 437-233-3971

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Ilsong Educational Foundation Chairman Dai-Won Yoon Wins Linnaeus Medal as the First in Asia2.6.2023 12:00:00 EEST | Press release

On May 30, Chairman Dai-Won Yoon of Ilsong Educational Foundation received the Linnaeus Medal from Uppsala University at Hallym University. This makes him the first person from Asia to receive the award. Ilsong Educational Foundation operates Hallym University and Hallym University Medical Center. This press release features multimedia. View the full release here: Chairman Dai-Won Yoon (left) of Ilsong Educational Foundation received Linnaeus Medal as the 1st in Asia (Photo: Hallym University) Chairman Yoon is the honoree of 2020. The award ceremony, which had been postponed due to COVID-19, was held this year with a delegation led by Vice Chancellor Anders Hagfeldt of Uppsala University visiting Korea. The Linnaeus Medal to commemorate Carl Linnaeus, a Swedish botanist, is awarded annually by Uppsala University to a person who has made a significant contribution to the field of science. Chairman Yoon was honored for his work in

10th Annual World Patient Safety, Science & Technology Summit Begins2.6.2023 09:15:00 EEST | Press release

Day one of the 10th Annual World Patient Safety, Science & Technology Summit presented by the Patient Safety Movement Foundation (PSMF) saw global leaders across the world of patient safety call for an increased urgency in addressing the issue of preventable harm within healthcare. This press release features multimedia. View the full release here: Joe Kiani, founder of the Patient Safety Movement Foundation, speaks at the 10th Annual World Patient Safety, Science & Technology Summit in Newport Beach, California. (Photo: Business Wire) Celebrating the PSMF’s 10th anniversary, Dr. Michael Ramsay, chief executive officer of the PSMF, reflected on the role that the increasing availability of hospital data on medical errors could play in reducing harm. “I’m very optimistic that we’re really going to see a difference in healthcare,” he said. “Technology is changing. We’re now getting real data. We know what the outcomes are in hospit

Autel Energy Holds Partner Summit in Amsterdam, Mapping Out Europe Strategy2.6.2023 09:00:00 EEST | Press release

Autel Energy, a leading provider of EV charging products and services, successfully hosted the Autel Partner Summit at Muziekgebouw in Amsterdam from May 31 to June 1, 2023. The event not only showcased Autel’s visionary Europe strategy for the next two years but also provided partners opportunities to gain insights into the company's vision, and learn about Autel’s new products. This press release features multimedia. View the full release here: A quick afternoon bite with the Autel partners. (Photo: Business Wire) The Partner Summit helped Autel Energy to strengthen its partnerships in Europe and highlighted its collaborations with key clients. Notable partners in attendance included Maxicharger AC clients such as Sevadis and Deta, as well as Maxicharger DC clients such as Floading, Gasgas, and eWays. The company also partnered with CPO clients like Fastway and Powerdo, as well as energy companies like Enefit. The Summit was d

PL BioScience and Macopharma enter into a Patent License and Assignment Agreement regarding Human Platelet Lysate (HPL) cell culture supplements.2.6.2023 08:22:00 EEST | Press release

PL BioScience GmbH, a German life science company specializing in the production and development of Human Platelet Lysate (HPL) for cell expansion, today announced a Patent License and Assignment Agreement with the French company Macopharma S.A.S. As a result of the Agreement, PL BioScience will hereby accept a worldwide license under the patents filed by Macopharma, with a right to sublicense (through multiple tiers), for the duration of the license period. In addition to the Patent License and Assignment Agreement, Macopharma will introduce PL BioScience to their current HPL customers, and thanks to a comprehensive comparative evaluation showing equivalence of HPL products from PL BioScience, Macopharma HPL customers will have the opportunity to transfer their future orders to PL BioScience with minimal disruption. About PL BioScience: Located in Aachen in Germany, PL BioScience GmbH is a life science company specializing in the production and development of Human Platelet Lysate (HP

AOP Health: Completed Study Strengthens Clinical Development Program for ropeginterferon alpha 2b (Besremi®) in polycythaemia vera2.6.2023 05:00:00 EEST | Press release

With the publication of the final results from the LOW-PV study in the New England Journal of Medicine Evidence conducted by Fondazione per la Ricerca dell'Ospedale di Bergamo (FROM) under the leadership of Professor Tiziano Barbui, AOP Health announces an important advancement reinforcing its clinical development program for ropeginterferon alpha-2b (BESREMi®) in polycythaemia vera (PV), a rare blood cancer. The academic LOW-PV study supported and funded by AOP Health and public organizations in Italy complements a series of trials performed by AOP Health over more than 10 years to achieve marketing authorization in Europe and the Middle East. With these clinical studies, including PEGINVERA, PROUD-PV, and CONTINUATION-PV, AOP Health opened a new area of treatment options for patients suffering from PV. A further study (PEN-PV) was performed to develop a pen for self-injection allowing ease of self-administration, exact dosing and minimal waste of the medical product. AOP Health’s com

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom