Coillte to sell its telecoms infrastructure business to InfraVia
08 September 2015
InfraVia Capital Partners (‘InfraVia’), a French investment fund, has agreed to purchase Coillte’s portfolio of telecommunications assets. The portfolio consists of approximately 300 telecommunications masts and equipment locations. A number of the masts were built by Coillte in recent years and certain locations include optical fibre connectivity.
Coillte said the transaction will strengthen its balance sheet and support its plans to invest €59 million in its SmartPly facility in Waterford Port as well as further investment in its wind farm portfolio in the coming years.
While sites at 298 locations are included in the sale the total area of land associated with these sites is less than 15 hectares and Coillte has assured the public that access to its forests for recreation use will be unaffected by the sale of this telecoms portfolio.
Vincent Levita, founder and CEO of InfraVia, said: “Our acquisition of the Coillte telecoms portfolio is highly consistent with our strategy of investing in midcap high-quality infrastructure assets. We are delighted to enter the Irish infrastructure market with an investment offering interesting growth prospects considering the ongoing 4G roll-out, the National Broadband Plan as well as the current requirement of additional coverage from mobile operators.
“We look forward to working with Coillte as a long-term partner, to developing with the management team these growth opportunities and establishing Cignal as a leading player in the Irish telecoms market.”
Coillte’s telecoms business
- Coillte Telecoms has been providing solutions to the telecoms industry since 1964 and has evolved from a pure site leasing business to a telecoms infrastructure solutions provider to the Irish telecoms and broadcast industries;
- Between 2009 and 2010, Coillte Telecoms designed and constructed 104 towers on Coillte property to support the National Broadband Scheme;
- The portfolio of towers is spread across 298 locations nationwide. This sale represents approximately 16 per cent of the towers actively supporting commercial communications in the Irish market.
InfraVia Capital Partners
InfraVia Capital Partners is an investment manager dedicated to the infrastructure sector. InfraVia Capital Partners manages two infrastructure funds, which are both positioned as long-term investors across the infrastructure and energy sectors in Europe. InfraVia Capital Partners is affiliated with OFI Asset Management;
Backed by two major French mutual insurance companies, Macif and Matmut, OFI Asset Management puts its asset management skills at the service of third-party investors. With €66 billion of assets under management as at March 31 2015, OFI Asset Management aims to offer a complete range of products and services to European institutional investors;
A new Irish-based company which shall trade as ‘Cignal’ has been formed to own and manage the business. Cignal will be chaired by Donal O’Shaughnessy who has extensive experience in the telecoms infrastructure sector.