London – Basalt Infrastructure Partners LLP (“Basalt”) announced today that the third flagship Basalt fund (“Basalt III”) has entered into definitive documentation to acquire goetel GmbH and German Network Construction GmbH (together “goetel” or the “Company”). The terms of the transaction have not been disclosed.

Founded more than 30 years ago, goetel is a leading regional telecommunication infrastructure provider which owns and operates an established and rapidly expanding high speed FTTH and FTTC network with a clear focus on the rural areas of the German regions of Hesse, Lower Saxony and North Rhine-Westphalia.

Steven Lowry, Chief Investment Officer and Co-Head of Europe of Basalt said, “Basalt has utilised its deep knowledge and prior experience in the German fibre sector to successfully complete this complementary transaction for Basalt III. We are excited to work with an experienced management team and, through Basalt III, to provide the necessary capital to support goetel’s deliverable growth plans through the continued roll-out of reliable and high-speed broadband to existing customers and underserved homes.”

Juergen Neumann, CEO of goetel said, “We are excited about the partnership with Basalt, which will bring valuable experience in the fibre sector to support the development of the Company and to further promote our growth aspirations.”

The transaction is expected to close during Q3 2021. Basalt III investments to date include Habitat Solar, XNG, the Iris Platform and Unilode.

ING served as financial adviser to Basalt III and White & Case served as its legal adviser.

About Basalt

Basalt is the exclusive investment advisor to the Basalt funds, comprising Basalt I, Basalt II and Basalt III. The Basalt funds are infrastructure equity investment funds focusing on mid-market investments in utilities, power, transport, and communications infrastructure in North America and Europe.

For more information, please visit www.basaltinfra.com

About goetel

Founded more than 30 years ago, goetel today is a leading regional telecommunication infrastructure provider based in Göttingen, Germany, employing more than 150 staff. The company develops, builds and operates an established and rapidly expanding high speed FTTH and FTTC network providing high-speed connectivity services to both B2C and B2B customers. Their footprint focuses on the rural areas of the German regions of Hesse, Lower Saxony and North Rhine-Westphalia.

For more information, please visit www.goetel.de