Partners Group, a global private investment firm, is acquiring a 75 percent equity stake in EOLO the largest fixed wireless access broadband provider in Italy. Partners Group will acquire its stake in EOLO from Searchlight Capital Partners and a vehicle controlled by Luca Spada, EOLO’s founder and CEO, in a transaction that values the company at an enterprise value of over EUR 1.2 billion. The remaining 25 percent of equity will continue to be owned by Spada’s vehicle.
EOLO owns and operates more than 3,400 base transceiver stations, which transmit fixed wireless internet between its network and end users, and 13,000 kilometers of fiber backhaul, covering roughly 80 percent of Italian households. Currently, the company connects over 600,000 households and businesses to the Internet, the majority of which are based in less densely populated areas.
“EOLO benefits from transformative trends driving increased digitization, ubiquitous connectivity and network densification, which are the themes that guide our investment approach to digital infrastructure,” says Livio Fenati, managing director, co-head Private Infrastructure Europe, Partners Group. “Fixed wireless access technology offers a competitive broadband solution for rural and semi-urban areas due to its competitive speed, low roll-out cost and ease of deployment, and will have significant positive impact on Italy’s rural population by enhancing its internet connectivity.”
Partners Group has invested $2.4 billion in digital infrastructure assets on behalf of its clients since inception.