Swedish broadband provider IP-Only is being acquired by investment fund EQT Infrastructure for an enterprise value of SEK18.25 billion (EUR1.7 billion) plus an earn-out of up to SEK1 billion. IP-Only is currently held by EQT Infrastructure’s sister funds EQT Mid Market and EQT Mid Market Europe; all three funds come under the umbrella of private equity group EQT Partners.
IP-Only owns and operates approximately 16,000km of fibre network which, together with leased infrastructure, covers 230 of 290 municipalities in Sweden. It provides wholesale fibre access services to more than 200,000 households and also serves more than 3,000 corporate and public sector customers.
EQT Infrastructure recently announced a deal to buy Maltese cable operator Melita, but just last week it withdrew a bid to buy Vocus in Australia.