M&A Deal Summary

Open Fiber Acquires Metroweb

On December 20, 2016, Open Fiber acquired communications company Metroweb from CDP Equity and Emisys Capital SGRpA for 714M EUR

Acquisition Highlights
  • This is Open Fiber’s 1st transaction in the Communications sector.
  • This is Open Fiber’s largest (disclosed) transaction.
  • This is Open Fiber’s 1st transaction in Italy.

M&A Deal Summary

Date 2016-12-20
Target Metroweb
Sector Communications
Buyer(s) Open Fiber
Sellers(s) CDP Equity
Emisys Capital SGRpA
Deal Type Add-on Acquisition
Deal Value 714M EUR

Target

Metroweb

Milan, Italy
Metroweb S.p.A. is a fiber optic network operator. Metroweb owns and operates a widely distributed fibre optics network in the Milan metropolitan area as well as in other selected areas of Northern Italy.

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Buyer(S) 1

Buyer

Open Fiber

Milan, Italy

Category Company
Sector Communications
DESCRIPTION

Open Fiber is a provider of fiber optic infrastructure network for telecommunications operators and residents that aims to develop a fiber optics network throughout the Country. The Company’s development plan provides the “fiber-to-the-home” coverage of 270 Italian cities and towns. Open Fiber is based in Milan, Italy.


DEAL STATS #
Overall 1 of 1
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Italy) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 2

SELLER

CDP Equity

Milan, Italy

Category Private Equity Firm
Founded 2011
PE ASSETS 3.4B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

CDP Equity is an Italian holding company and investment firm focused on acquiring stakes in large Italian companies. Sectors of interest include defense, food, insurance, communications, energy, infrastructure, public services, security, transportation, and leisure. CDP Equity is based in Milan.


DEAL STATS #
Overall 2 of 4
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 2 of 2
Country (Italy) 2 of 3
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-09 Rocco Forte Hotels

London, United Kingdom

Rocco Forte Hotels is an international group of 10 high-end hotels and a luxury resort. The hotels are all located in some of the most visited cities in Italy, Germany, Belgium, and Russia. Rocco Forte Hotels was founded in 1996 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-21 Open Fiber

Milan, Italy

Open Fiber is a provider of fiber optic infrastructure network for telecommunications operators and residents that aims to develop a fiber optics network throughout the Country. The Company’s development plan provides the “fiber-to-the-home” coverage of 270 Italian cities and towns. Open Fiber is based in Milan, Italy.

Buy -
SELLER

Emisys Capital SGRpA

Milan, Italy

Category Mezzanine Finance Firm
Founded 2013
PE ASSETS 130M EUR
Size Small
Type Sector Agnostic
DESCRIPTION

AF Mezzanine is a provider of junior capital to support leveraged buyouts, growth capital financings, as well as recapitalizations. AF generally focuses on mid-sized companies with sales of €50 to €500 million. AF does have any sector preferences, however the Firm prefers stable businesses with predictable cash-flows. The Firm's target investment size is €4 to €20 million. AF will not invest in start-ups or turnaround situations. AF Mezzanine is controlled by financial group Fineurop and is based in Milan.


DEAL STATS #
Overall 11 of 14
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 5 of 6
Country (Italy) 6 of 9
Year (2016) 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-20 Club del Sole

Forli, Italy

Club del Sole is a camping-village operator, offering a wide range of open air holiday solutions including bungalows, mobil-homes and housing tents. Club del Sole was founded in 1974 and is based in Forli, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-19 Polynt

Scanzorosciate, Italy

Polynt engages in the research and development, manufacture, and sale of specific polymer chemical intermediates, catalysts, and compounds. Polynt was founded in 1955 and is based in Scanzorosciate, Italy.

Sell -