The EQT Infrastructure III fund has signed a definitive agreement to acquire CIF Holding B.V. from Rabo Bouwfonds Communication Infrastructure Fund C.V.

CAIW is a leading regional telecom infrastructure company in the Netherlands owning and operating a state-of-the-art fiber and coax network, connecting more than 350,000 households. CAIW employs approximately 210 people and generated sales of € 112 million (US$ 131 billion) in 2016.

EQT Infrastructure will invest in the continued development of CAIW’s growth strategy while strengthening its market position and exploring opportunities to expand its existing fiber network.

EQT Infrastructure intends to include CAIW in the same holding as DELTA and the new group management structure will oversee all activities related to both CAIW and DELTA. It will be headed by Marco Visser, current CEO of DELTA.

The transaction is subject to customary conditions, such as completion of a works council consultation procedure and approval of the Autoriteit Consument & Markt (ACM). The parties have agreed not to disclose financial details related to the transaction. The transaction is expected to close in Q4, 2017.

Morgan Stanley acted as sole financial advisor and Clifford Chance as legal advisor to EQT Infrastructure.

Matthias Fackler, Partner at EQT Partners and Investment Advisor to EQT Infrastructure said:

“EQT Infrastructure looks forward to supporting CAIW’s growth journey in the Dutch telecom and infrastructure market. Following last year’s investment in the telecom infrastructure company DELTA, the acquisition of CAIW fortifies EQT Infrastructure’s commitment to the Dutch fiber segment.”

​Joost Goderie, Senior Managing Partner at Rabo Bouwfonds Communication Infrastructure Fund:

"With support of institutional investors, we have developed large-scale fiber networks in different areas of the Netherlands. We are especially proud that CAIW successfully rolled out optical fiber to municipalities and households in rural areas. Welcoming EQT Infrastructure as the new investor will guarantee continuity of CAIW’s services and shape the ambitions for the future.”

EQT is a leading alternative investments firm with approximately € 37 billion (US$ 43 billion) in raised capital across 24 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than €19 billion (US$ 22 billion) and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.