M&A Deal Summary

OMERS Infrastructure and Allianz Capital Partners Acquires SFR FTTH

On November 30, 2018, infrastructure investor OMERS Infrastructure and asset manager Allianz Capital Partners acquired infrastructure company SFR FTTH from Altice Europe N.V. for 1.8B EUR

Acquisition Highlights
  • This is OMERS Infrastructure’s 5th and Allianz Capital Partners’ 2nd transaction in the Infrastructure sector.
  • This is OMERS Infrastructure’s 1st and Allianz Capital Partners’ 0th largest (disclosed) transaction.
  • This is OMERS Infrastructure’s 1st and Allianz Capital Partners’ 1st transaction in France.

M&A Deal Summary

Date 2018-11-30
Target SFR FTTH
Sector Infrastructure
Buyer(s) OMERS Infrastructure
Allianz Capital Partners
Sellers(s) Altice Europe N.V.
Deal Type Divestiture
Deal Value 1.8B EUR

Target

SFR FTTH

France
SFR FTTH is the largest alternative FTTH infrastructure wholesale operator in France. SFR FTTH will sell wholesale services to all operators at the same terms and conditions including SFR as a customer with no minimum volume commitments.

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Buyer(S) 2

Buyer

OMERS Infrastructure

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

website


Category Infrastructure
Founded 1990
SizeMega
Type Sector Focused
DESCRIPTION

OMERS Infrastructure is the infrastructure investment arm of Canadian pension plan OMERS. OMERS targets 'large-scale' infrastructure investments valued in excess of $1 billion where the firm can commit at least $200 million of equity capital. Prospective opportunities generally possess significant governmental or regulatory barriers to entry, as well as stable cash-flows linked to long-term contracts. Specific areas of interest include energy (generation, transmission and distribution networks), transportation (transportation gateways, rail corridors, ports and airports), institutional facilities (hospitals, long-term care facilities and schools), and government-regulated services (laboratory diagnostic services, satellite and other communications networks and land registry services). OMERS was formed in 1990 and is based in Toronto.


DEAL STATS #
Overall 28 of 30
Sector (Infrastructure) 5 of 5
Type (Divestiture) 2 of 2
Country (France) 1 of 1
Year (2018) 3 of 3
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-21 BridgeTex Pipeline Co. LLC

Tulsa, Oklahoma, United States

BridgeTex Pipeline Co. LLC is a key provider of crude oil transportation from Colorado City in West Texas to refineries in Houston and Texas City as well as for marine export through the Houston Ship Channel.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-10 Deutsche Glasfaser Holding GmbH

Borken, Germany

Deutsche Glasfaser is a provider of fiber-optic internet connectivity for private households and business customers in rural Germany. Deutsche Glasfaser was founded in 2011 and is based in Borken, Germany.

Buy -
Buyer

Allianz Capital Partners

Munich, Germany

Investor Investor Investor

website


Category Asset Manager
Founded 1996
PE ASSETS 18.8B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Allianz Capital Partners is the asset management affiliate of the Allianz Group. The Firm operates in three segments, including Private Equity, Renewable Energy, and Infrastructure. The Private Equity investment group primarily pursues venture and private equity fund investments, however the group is an active co-investor, looking to support buyouts and growth capital financings in a variety of sectors. The Renewables Group seeks investments in long-term wind and solar projects. The Infrastructure team pursues energy and transportation infrastructure projects. Allianz Capital Partners was formed in 1996 and has offices in Munich, London, New York, and Singapore.


DEAL STATS #
Overall 16 of 18
Sector (Infrastructure) 2 of 2
Type (Divestiture) 4 of 4
Country (France) 1 of 1
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-13 Elenia Oy

Tampere, Finland

Elenia (formerly Lakeside Network Investments) holds 100% of two companies: Elenia Verkko Oy ("Elenia Verkko") and Elenia Lämpö Oy ("Elenia Lämpö"). Elenia Verkko is the second-largest electricity distribution network in Finland. Elenia Lämpö operates 17 local district heating networks, with strong market shares in their areas, and owns the seventh longest network in Finland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 Solveig Gas Norway AS

Stavanger, Norway

Solveig Gas Norway AS is own and operates gas pipelines. Solveig Gas Norway is based in Stavanger, Norway.

Sell -

Seller(S) 1

SELLER

Altice Europe N.V.

Woerden, Netherlands

website


Category Company
Founded 2001
SectorCommunications
Revenue 14.8B EUR (2019)
DESCRIPTION

Altice Europe is a multinational cable and telecommunications company with a presence in France, Israel, Belgium & Luxembourg, Portugal, French West Indies/ Indian Ocean Area, and the Dominican Republic and Switzerland. Altice provides cable-based services (high-quality pay television, fast broadband Internet, and fixed line telephony) and, in certain countries, mobile telephony services to residential customers and corporate customers. Altice Europe was founded in 2001 and is based in Amsterdam, Netherlands.


DEAL STATS #
Overall 8 of 8
Sector (Infrastructure) 1 of 1
Type (Divestiture) 7 of 7
Country (France) 2 of 2
Year (2018) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-30 Teletorres del Caribe

Dominican Republic

Teletorres del Caribe which comprises 1,039 sites. Teletorres del Caribe, setting a clear partnership framework between the two companies. Teletorres del Caribe has committed to support Altice Dominicana in the continued deployment of its network.

Sell $170M