M&A Deal Summary

Cellnex Telecom Acquires Hivory

On February 17, 2021, Cellnex Telecom acquired communications company Hivory from KKR for 5.2B EUR

Acquisition Highlights
  • This is Cellnex Telecom’s 3rd transaction in the Communications sector.
  • This is Cellnex Telecom’s largest (disclosed) transaction.
  • This is Cellnex Telecom’s 1st transaction in France.

M&A Deal Summary

Date 2021-02-17
Target Hivory
Sector Communications
Buyer(s) Cellnex Telecom
Sellers(s) KKR
Deal Type Add-on Acquisition
Deal Value 5.2B EUR

Target

Hivory

Courbevoie, France
Hivory is a high-quality telecoms infrastructure provider with a nationwide presence, benefiting from more than 10,000 strategically located sites with a diversified portfolio of ground-based towers and rooftops. The company is focused on serving the growing infrastructure needs for mobile operators to provide connectivity to all parts of the French population, meeting continued strong demand for data consumption and increased coverage. Hivory was founded in 2018 and is based in Courbevoie, France.

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Buyer(S) 1

Buyer

Cellnex Telecom

Madrid, Spain

Category Company
Founded 2008
Sector Communications
Employees2,642
Revenue 4.1B EUR (2024)
DESCRIPTION

Cellnex Telecom, is an operator of wireless telecommunications infrastructures with a portfolio of 45,000 sites including forecast roll-outs up to 2027. Cellnex operates in Spain, Italy, Nether-lands, France, Switzerland, and the United Kingdom. Cellnex Telecom was founded in 2008 and is based in Madrid, Spain.


DEAL STATS #
Overall 3 of 3
Sector: Communications M&A 3 of 3
Type: Add-on Acquisition M&A Deals 2 of 2
Country: France M&A 1 of 1
Year: 2021 M&A 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-12 Cheung Kong - European Tower Assets & Businesses

Hong Kong, China

Cheung Kong (Holdings) Ltd. - European Tower Assets & Businesses includes telecommunication tower assets and businesses portfolio for CKHGT and CKHH while accelerating the rollout of 5G across CKHGT’s networks.

Buy €10.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-29 Cellnex Nordics

Stockholm, Sweden

Cellnex Nordics provides mobile network operators with colocation services for their wireless networking equipment through a network totalling 4k+ sites across Sweden and Denmark today. The Cellnex Nordics business holds commitments and options to build and operate approximately 2,500 additional sites in the region, positioning it well for continued organic growth. Cellnex Nordics is based in Stockholm, Sweden.

Sell -

Seller(S) 1

SELLER

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 154 of 215
Sector: Communications M&A 6 of 8
Type: Add-on Acquisition M&A Deals 54 of 69
Country: France M&A 8 of 9
Year: 2021 M&A 3 of 21
Size (of disclosed) 4 of 40
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-17 Flow Control Group

Charlotte, North Carolina, United States

Flow Control Group is a solutions provider focused on technically oriented products and services for the flow control, fluid handling, and process & industrial automation sectors with locations throughout the U.S. and Canada. As a critical intermediary between over 2,000 suppliers and 10,000 customers, Flow Control Group was founded in 2014 and is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-22 ON*NET Fibra Chile

Santiago, Chile

ON*NET Fibra Chile is a fiber-optic network that makes network open access through a newly established independent Chilean company with assets managed locally. ON*NET Fibra Chile is based in Santiago, Chile.

Buy -