After seven years of continuous growth and development of the company, we made the decision with the founders of IslaLink to let the company open a new chapter to support its development. We are extremely pleased with the headway achieved by IslaLink with the support of Cube during those years and we are confident that under EQT control, IslaLink will continue its growth for the satisfaction of its clients.
Cube Infrastructure Fund (“Cube”) has agreed to sell its majority shareholding in IslaLink Submarine Cables, S.L. (“IslaLink”), an independent and neutral operator of submarine fiber optical cables in and around Spain. IslaLink will be sold to EQT Infrastructure Fund II. The founders and the management team will remain with the Company.
“After seven years of continuous growth and development of the company, we made the decision with the founders of IslaLink to let the company open a new chapter to support its development. We are extremely pleased with the headway achieved by IslaLink with the support of Cube during those years and we are confident that under EQT control, IslaLink will continue its growth for the satisfaction of its clients,” said Henri Piganeau, Managing Partner at Cube.
“Since 2008, thanks to Cube’s support, we have consolidated our presence in Baleares, we have deployed new cables to the Canary Islands and Morocco, and we have strengthened our alliance with Algérie Telecom. We are very pleased with the mutual trust relationship built with Cube and we are looking forward to a new phase of growth thanks to EQT’s support and commitment” said Alfonso Gajate, Chairman of IslaLink’s Board. Closing of the transaction is expected in the fourth quarter of 2014, subject to customary anti-trust approvals. Cube Infrastructure Fund was advised by Clifford Chance.
About Cube
Cube Infrastructure is a EUR 1.1 billion fund investing in European brownfield regulated businesses, mainly focusing on Energy, Transportation and Telecommunication infrastructure, delivering predictable cash-flows.
About IslaLink
IslaLink is a neutral and independent submarine fiber optic communications operator in Spain. It owns and operates one of the main fiber optic cables connecting the Balearic Islands to mainland Spain and it manages a significant part of Algérie Télécom’s international IP traffic to/from Europe received in Marseilles.
About EQT
EQT is the leading private equity group in Northern Europe, with portfolio companies in Northern and Eastern Europe, Asia and the US with total sales of more than EUR 25 billion and over 500,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
EQT Infrastructure II is a EUR 1.9 billion fund investing in medium-sized infrastructure businesses in the Nordic region, parts of Continental Europe, and North America. Investment targets are regulated infrastructure, concession-based infrastructure, market-based infrastructure and infrastructure-related services.