Dutch B2B fibreco Eurofiber has agreed to buy counterpart B-Telecom from Syntigo, the IT subsidiary of Belgian railway utility Infrabel, for a consideration of €33m.
The deal follows Eurofiber’s own €875m sale last month by Doughty Hanson and…
Dutch B2B fibreco Eurofiber has agreed to buy counterpart B-Telecom from Syntigo, the IT subsidiary of Belgian railway utility Infrabel, for a consideration of €33m.
The deal follows Eurofiber’s own €875m sale last month by Doughty Hanson and Reggeborgh to Antin Infrastructure Partners. The EBITDA of that deal is understood to have been in the low teens, in line with recent acquisitions by the likes of US players Zayo and Level 3.
The acquisition includes all the fibre-optic activities of Syntigo, which will retain its ICT services business, B-Excellence.
Eurofiber said it would gain 7,500 km of fibre which, added to its current Belgian presence, would give it a nationwide network to match its coverage in the Netherlands.
Syntigo reported a turnover of €84m in 2013, according to its LinkedIn page.
The transaction is due to close at the end of July, at which time all employees of B-Telecom will transfer to Eurofiber Belgium.
According to Eurofiber CEO Alex Goldblum, “Our ambition is to be a national provider of fibre-optic connectivity for the business market in Belgium.”
Echoing the company’s ambitions was Lars Alkema, managing director of Eurofiber Belgium, who said the company’s growth strategy would continue via M&A and organic means.
