Asterion Industrial Partners, an independent investment management firm focused on European infrastructure in the mid-market, announced the acquisition of Olivenet, a regional telecom provider that operates in Andalucia, with presence in approximately 35 municipalities and more than 900,000 Homes Passed.
With Olivenet as the first and anchor investment of the platform, Asterion is uniquely positioned to create a sizable and leading player in the Spanish rural fibre space, complementing its existing footprint with a unique opportunity to achieve more than 1.5m Homes Passed and close to 6,000 km of fibre network.
Olivenet is the fifth investment of Asterion Industrial Partners’ Fund II, in line with its geographic focus on Spain, Italy, UK, and France. Asterion will support Olivenet’s continued growth, facilitating internet access to rural communities in the south of Spain, which is a critical element for communication and education.
Uría Menendez and KPMG Abogados advised Asterion Industrial Partners. Uría Menendez advised the company with Manuel Echenique (pictured) and Luis Nuñez Lagos and Guillermo del Río. KPMG Abogados acted with Maria del Pilar García Molinero (pictured).