EQT purchases Ventelo, merges it with InFiber.
Ventelo, led by CEO Stig Herbern, is Norway’s second largest provider of data and telecom solutions, in addition to controlling one of only two nationwide fiber networks in Norway, with metro ring networks in the largest cities. Ventelo expects revenues in 2011 of NOK 2,600 million and an EBITDA of approximately NOK 400 million.
“With a strong number two position and reinforced with the expertise and resources of EQT VI, Ventelo is well positioned to enhance the growth potential in the Norwegian data and telecom market. Short term, EQT VI will support the management team in providing Norway’s leading data and telecom solutions to its customers, in addition to initiate the process for creating a stronger platform for future growth and development”, says Gunnar Asp, who will take the role as Chairman of the new Ventelo Board of Directors.
Gunnar Asp is Industrial Advisor to EQT VI and Chairman of, among others, EQT V-owned InFiber (former Hafslund Fibernett), acquired in January 2011.
InFiber is the owner and operator of Norway´s largest operator neutral optical fiber network, located in the Greater Oslo area.
Later edit: InFiber and Ventelo were merged and established into one organisation within Datacom under the brand Broadnet. The Voice and Datacom divisions have been separated into two separate business areas – Broadnet, providing fiber based datacom services and Ventelo providing low cost fixed and mobile voice services. The Voice business was sold in 2014, leaving Broadnet as a focused pure-play Datacom provider. Broadnet has been an active consolidator of the Norwegian market with 5 add-on acquisitions completed since 2012, which are highly synergistic in nature