Transaction summary &
Highlights
UBS Asset Management Real Estate & Private Markets (UBS) has acquired a 100% equity stake in Lünecom Kommunikationslösungen GmbH (Lünecom), a leading independent fibre optic infrastructure operator in Northern Germany. UBS’ acquisition of the established platform and planned investments of €160 million will enable Lünecom to significantly accelerate its plans to reach more homes across the region. This transaction marks UBS’ first fibre investment in Germany.
The platform already has a large, contracted user base supporting cash generation, with the investment from UBS providing access to further financing for capex to deliver on an actionable pipeline of up to 100,000 homes, and the potential to expand to a further 50,000 homes in target areas across Northern Germany.
HHP provided full buy-side advisory services to UBS, including but not limited to tactical advice, support in SPA negotiation, operating and financial model as well as coordination of other buy-side advisors and respective workstreams.
Besides HHP, UBS was advised by Hogan Lovells (legal), Eight Advisory (financial/tax) and Rautenberg & Company (commercial/technical).
Background
UBS Asset Management
UBS is a large-scale investment manager with a presence in 23 markets, offering investment capabilities and investment styles across all major traditional and alternative asset classes. The infrastructure platform manages around USD 5.1 billion globally across infrastructure sectors including transportation, utilities, telecommunications, energy and social infrastructure via direct equity and debt investments.
Lünecom
Founded in 1995 and headquartered in Lüneburg, Lünecom is an integrated fibre infrastructure operator in Northern Germany offering super-fast internet via fibre to the home, as well as IP telephony and IPTV. It has a high market share in its existing coverage area.