SPB and Andersen advise on the acquisition of Justo Comunicacions and Airconect

Squire Patton Boggs and Andersen have advised on the acquisition of Justo Comunicacions and Airconect, two independent telecommunications operators located in Valencia and Alicante, by Excom, the Spanish telecom group backed by Formentor Capital

Through these acquisitions, Excom achieves to acquire up to five companies so far this year (Ondawifi, in Albacete, and Bandawifi, in Granada, both acquired in February; alongside with Fone, in Alicante, acquired in July), resulting in a total of fifteen companies acquired since the acquisition of the Spain-based private equity firm Formentor Capital of a majority stake in Excom.

Thanks to these acquisitions, Excom forecasts a 27% increase in the number of clients for this financial year, exceeding 170,000 clients, which results in a growth at a rate of more than 15% and a turnover of up to 45 million euros for the financial year 2023.

Squire Patton Boggs’ Madrid office team has advised Excom, led by M&A partner Carlos Blanco and comprising senior associate Javier Arenas and associates Elena Ferrer, Jaime Arca, Íñigo Oliván, Jorge Boguñá and Javier Jerez acted as legal advisors to Excom.

Principal image: partner Carlos Blanco and senior associate Javier Arenas.

Andersen has advised Justo Comunicacions. Ignacio Aparicio, co-managing partner of the corporate and M&A practice, together with José Trujillo and Isabel Boguñá, senior associate and associate, respectively, of the same department, have been responsible for advising Andersen on the transaction.