Antin Partners’ Acquisition of Ufinet


Freshfields Bruckhaus Deringer, Gross Brown, Marval, O’Farrell & Mairal, Guyer & Regules, Batalla, Rodrigo, Elías & Medrano, Brigard Urrutia and Creel, García-Cuéllar, Aíza & Enríquez advised on the deal

Antin Infrastructure Partners, a leading independent private equity firm focused on infrastructure investments, announced today that it has entered into a definitive agreement to acquire Ufinet Group’s Spanish business from private equity firm Cinven.

Ufinet Spain is a leading independent wholesale fibre platform with a unique nation-wide long-haul network, high capillarity in metro areas and fast growing dark fibre, lit fibre and fibre to the home (“FTTH”) businesses.

This transaction is Antin’s fourth announced in the fibre sub-sector and sixth overall in the wider telecom space. Since 2015 Antin has owned Eurofiber, a provider of critical telecom infrastructure in the Netherlands and Belgium, and it recently announced the conclusion of a definitive agreement for the acquisition of FirstLight Fiber, which provides critical fibre-based telecom infrastructure to enterprise and carrier customers throughout the Northeastern United States. Furthermore, on 24 April 2018, Antin (together with West Street Infrastructure Partners) announced a recommended cash offer for CityFibre Infrastructure Holdings plc, an independent provider of fibre infrastructure in towns and cities across the UK, listed on the London Stock Exchange’s AIM. The CityFibre acquisition is to be implemented by means of a Courtsanctioned scheme of arrangement and is subject to shareholder approval.

The transaction results in the separation of Ufinet Group into two separate companies. Ufinet Spain will be acquired by Antin and the international operations of Ufinet will be acquired by the Sixth Cinven Fund.

Ufinet Spain was originally carved-out from Spanish utility Gas Natural Fenosa in 2014 along with the international operations of Ufinet and has since grown at a rapid pace, with 2017 sales of €81m and a 10% EBITDA CAGR from 2015 to 2017.

Freshfields Bruckhaus Deringer advised Cinven with Adrian Maguire, Victoria Sigeti, Armando Albarrán and Javier Monzón.

In Paraguay, Estudio Jurídico Gross Brown advised Cinven with Sigfrido Gross Brown, Mauricio Salgueiro, Tamara Arietti and Álvaro Rojas.

In Argentina, Marval, O’Farrell & Mairal advised Cinven with Daniel Francisco Di Paola.

In Uruguay, Guyer & Regules advised Cinven with Marcos Payssé, Sofía Anza and Sofía Magnífico.

Batalla advised Cinven with Mariano Batalla, Sergio Amador, Marco Ureña, José Luis Campos, Esteban de la Cruz and Paula Zamora.

Rodrigo, Elías & Medrano advised Cinven with Juan Diego de Vinatea, Andrea Morelli and Marco Zaldívar.

Brigard Urrutia advised Cinven with Carlos Umaña, Darío Laguado and Laura Ribero.

In Mexico, Creel, García-Cuéllar, Aíza & Enríquez advised Cinven with Jorge Montaño, Jean Michel Enríquez, Santiago Sepúlveda, Jorge Kargl and Javier Gómez Morin.

Involved fees earner: Mariano Batalla – Batalla; Sergio Amador – Batalla; Marco Ureña – Batalla; José Luis Campos – Batalla; Sigfrido Gross Brown – Estudio Gross Brown; Mauricio Salgueiro – Estudio Gross Brown; Tamara Arietti – Estudio Gross Brown; Alvaro Rojas – Estudio Gross Brown; Daniel Francisco Di Paola – Marval, O’Farrell & Mairal; Jorge Montaño Valdés – Creel, García-Cuéllar, Aiza y Enriquez SC; Jean Michel Enriquez – Creel, García-Cuéllar, Aiza y Enriquez SC; Santiago Sepúlveda – Creel, García-Cuéllar, Aiza y Enriquez SC; Jorge Kargl Pavia – Creel, García-Cuéllar, Aiza y Enriquez SC; Javier Gómez Morin Cuevas – Creel, García-Cuéllar, Aiza y Enriquez SC; Marcos Payssé – Guyer & Regules; María Sofía Anza – Guyer & Regules; Carlos Umaña Trujillo – Brigard & Urrutia; Darío Laguado Giraldo – Brigard & Urrutia; Laura Ribero Díaz – Brigard & Urrutia; Juan Diego De Vinatea – Rodrigo, Elías & Medrano Abogados; Andrea Morelli – Rodrigo, Elías & Medrano Abogados; Marco Zaldívar – Rodrigo, Elías & Medrano Abogados; Adrian Maguire – Freshfields Bruckhaus Deringer LLP; Victoria Sigeti – Freshfields Bruckhaus Deringer LLP; José Armando Albarrán – Freshfields Bruckhaus Deringer LLP; Javier Monzón – Freshfields Bruckhaus Deringer LLP;

Law Firms: Batalla; Estudio Gross Brown; Marval, O’Farrell & Mairal; Creel, García-Cuéllar, Aiza y Enriquez SC; Guyer & Regules; Brigard & Urrutia; Rodrigo, Elías & Medrano Abogados; Freshfields Bruckhaus Deringer LLP;

Clients: Cinven;