M&A Deal Summary

Xp Fibre Acquires Covage

On November 25, 2019, Xp Fibre acquired communications company Covage from Cube Infrastructure Managers and Axia NetMedia for 1.0B EUR

Acquisition Highlights
  • This is Xp Fibre’s 1st transaction in the Communications sector.
  • This is Xp Fibre’s 0th largest (disclosed) transaction.
  • This is Xp Fibre’s 1st transaction in France.

M&A Deal Summary
Date 2019-11-25
Target Covage
Sector Communications
Buyer(s) Xp Fibre
Sellers(s) Cube Infrastructure Managers
Axia NetMedia
Deal Type Add-on Acquisition
Deal Value 1.0B EUR

Target

Covage

Courbevoie, France
Covage is an operator of fiber deployment and IP services. Covage was founded in 2006 and is based in Courbevoie, France.

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Buyer(S) 1

Buyer

Xp Fibre

Courbevoie, France
Category Company
Sector Communications
DESCRIPTION

Xp Fibreis an infrastructure operator specializing in the design, construction and operation of fiber optic networks. XpFibre deploys, markets and maintains more than 7 million FTTH sockets throughout France. Xp Fibre is based in Courbevoie, France.

DEAL STATS #
Overall 1 of 1
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (France) 1 of 1
Year (2019) 1 of 1

Seller(S) 2

SELLER

Cube Infrastructure Managers

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2007
PE ASSETS 4.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Cube Infrastructure Managers is a private equity firm focused on European infrastructure investments. The Firm targets control and co-control situations and generally looks to invest in infrastructure assets offering sustainable growth potential principally driven by deregulation and/or market consolidation needed to improve the efficiency of essential infrastructure & public services, notably energy supply, communication infrastructure, and public transport. Cube also has a dedicated fund focused on investing in fiber communications infrastructure. Cube Infrastructure Managers was formed in 2007 and is headquartered in Luxembourg.

DEAL STATS #
Overall 3 of 4
Sector (Communications) 2 of 2
Type (Add-on Acquisition) 1 of 1
Country (France) 2 of 2
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-10 Varanger Kraftvind

Vadso, Norway

Varanger KraftVind operates the Raggovidda wind farm in Berlevag municipality in Finnmark County, with an annual production of close to 200 GWh. Varanger Kraftvind is based in Vadso, Norway.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-01 Rede Aberta

Santiago de Compostela, Spain

Rede Aberta deploys and operates a Fiber-to-the-Home network in rural and semi-rural areas of Galicia. Rede Aberta was founded in 2020 and is based in Santiago de Compostela, Spain.

Buy -
SELLER

Axia NetMedia

Calgary, Alberta, Canada
Category Company
Founded 1993
Sector Communications
Employees274
DESCRIPTION

Axia NetMedia Corp. owns, operates and sells services over fibre optic communications infrastructure. Company sell fast, reliable transport services using the most intelligent data management systems to deliver maximum performance at every moment on our networks.

DEAL STATS #
Overall 2 of 2
Sector (Communications) 2 of 2
Type (Add-on Acquisition) 1 of 1
Country (France) 2 of 2
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-16 Covage

Courbevoie, France

Covage is an operator of fiber deployment and IP services. Covage was founded in 2006 and is based in Courbevoie, France.

Sell -
Mergr

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