Basalt II announces acquisition of bn:t and SOCO in Germany
A fund managed by Basalt Infrastructure Partners II GP Limited (“Basalt”) announced today that it has acquired bn:t Blatzheim Networks Telecom GmbH (“bn:t”) and SOCO Network Solutions GmbH (“SOCO”). The terms of the transaction are not being disclosed.
bn:t and SOCO are fibre network owners and operators in the North Rhine-Westphalia region of Germany. The companies own and operate the significant majority of the fibre infrastructure within their respective footprints. bn:t and SOCO are focused on expanding their footprints and the further roll out of their Fibre To The Home (“FTTH”) offering.
Commenting on the announcement, Steven Lowry, Partner of Basalt Infrastructure Partners LLP, Advisor to Basalt, said: “We are very excited by the acquisitions of bn:t and SOCO. We are keen to support the companies on with their strong growth trajectories through further capital investment, while continuing to leverage the existing established network assets. We look forward to working closely with the management team and employees to deliver reliable and high-speed broadband to existing customers and underserved homes.” Günther Blatzheim, Managing Director of bn:t Blatzheim Networks Telecom GmbH, commented: “With Basalt, we have partnered with an experienced investor to continue the build out of our network” while Stephan Fuß, Managing Director of SOCO Network Solutions GmbH, added: ” Basalt is the right partner at this exciting stage in the development of SOCO”.