NY-STONEPEAK
2.5.2023 11:01:27 CEST | Business Wire | Press release
Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the recapitalization of euNetworks, a Western European bandwidth infrastructure company. The recapitalization is being effectuated as a sale of euNetworks anchored by a Stonepeak managed vehicle alongside strategic investments from APG Asset Management (APG) and Investment Management Corporation of Ontario (IMCO).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230501005667/en/
euNetworks is a leading data center and cloud connectivity provider focused on delivering scalable, fiber-based products and solutions to customers across the wholesale, finance, content, media, data center and enterprise industries. The company owns and operates 17 dense fiber-based metropolitan city networks, connected with long haul networks covering 53 cities in 17 countries. They lead the data center connectivity market in Europe, directly connecting over 510 data centers today, with further indirect connections.
Stonepeak first acquired a majority interest in euNetworks in January 2018, and since that time the company has increased the number of connected data centers by over 60%, announced three acquisitions, and optimized the capital structure through incremental debt and equity funding. Operationally, the company has continued to scale its organization, growing its employee base by over 20% to support its growth while implementing several strategic initiatives to solidify its leadership position in sustainability.
Cyrus Gentry, Managing Director and Head of Communications Europe at Stonepeak, said, “From our initial investment in euNetworks in 2018, the company has developed and accelerated its strategy, and has become a market leader in bandwidth infrastructure in Europe. We are incredibly proud of the progress the company has made to date. APG and IMCO share our enthusiasm for euNetworks’ future and collectively we look forward to working closely with the company as it continues to grow over the coming years and as Stonepeak continues to grow its presence in Europe.”
Paula Cogan, Chief Executive of euNetworks, said, “With this transaction we will enhance our position as we work to grow our network solutions and offerings to our customers who are at the center of the technology transformation. With Stonepeak, APG and IMCO’s support, we will continue to focus on building and densifying our networks in key European cities and across the region, connecting more data centers, and key sites with fiber. I am excited for the opportunities we have ahead and it is with great pride that I lead the euNetworks team forward.”
Arjan Reinders, Head of Infrastructure Europe at APG, said, “We have been impressed by euNetworks’ focus on sustainable growth and providing compelling connectivity solutions to its customers. We are thrilled to be entering into this partnership, on behalf of our pension fund client ABP, and are eager to support the euNetworks team as they continue to develop and further their strategic vision.”
Matthew Mendes, Managing Director and Head of Infrastructure of IMCO, said, “Since our initial investment in euNetworks in 2018, we’ve been proud to partner with our co-shareholders on driving the company’s growth and progress made in ESG. euNetworks represents the kind of digital infrastructure platform IMCO seeks to invest in globally – a differentiated strategy, mission critical network and partner of choice for the industry. We have confidence in euNetworks’ high caliber management team and are excited to be part of euNetworks’ future at this stage in the company’s trajectory.”
The transaction is expected to close in the second half of 2023 subject to regulatory approvals and other closing conditions.
J.P. Morgan is acting as sole financial advisor to euNetworks. Simpson Thacher & Bartlett LLP acted as legal counsel to Stonepeak. UBS and Baker McKenzie acted respectively as financial and legal advisors to APG. Gowling WLG acted as legal counsel to IMCO.
About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $55.7 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, and social infrastructure. Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney. For more information, please visit www.stonepeak.com.
About euNetworks
euNetworks is a bandwidth infrastructure company, owning and operating 17 fibre based metropolitan networks connected with a high capacity intercity backbone covering 53 cities in 17 countries. The company leads the market in data centre connectivity, directly connecting over 510 today. euNetworks is also a leading cloud connectivity provider, directly connecting to all key cloud platforms with access to additional platforms. The company offers a targeted portfolio of metropolitan and long haul services including Dark Fibre, Wavelengths, and Ethernet. Wholesale, finance, content, media, data centre and enterprise customers benefit from euNetworks’ unique inventory of fibre and duct based assets that are tailored to fulfil their high bandwidth needs.
About APG Asset Management
As the largest pension provider in the Netherlands APG looks after the pensions of 4.8 million participants. APG provides executive consultancy, asset management, pension administration, pension communication and employer services. We work for pension funds and employers in the sectors of education, government, construction, cleaning, housing associations, sheltered employment organizations, medical specialists, and architects. APG manages approximately €522 billion (February 2023) in pension assets. With approximately 3,000 employees we work from Heerlen, Amsterdam, Brussels, New York, Hong Kong, Shanghai and Beijing. Visit our website: www.apg-am.nl.
About IMCO
The Investment Management Corporation of Ontario (IMCO) manages $73.3 billion of assets on behalf of our clients. Designed exclusively to drive better investment outcomes for Ontario's broader public sector, IMCO operates under an independent, not-for-profit, cost recovery structure. We provide leading investment management services, including portfolio construction advice, better access to a diverse range of asset classes and sophisticated risk management capabilities. As one of Canada's largest institutional investors, we invest around the world and execute large transactions efficiently. Our scale gives clients access to a well-diversified global portfolio, including sought-after private and alternative asset classes. Follow us on LinkedIn and Twitter @imcoinvest.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230501005667/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Exeon Analytics expands management team for next growth phase2.9.2026 10:00:00 CEST | Press release
Exeon Analytics is expanding its management team with two new roles. Wayne Jennings takes on the newly created position of Chief Solutions Officer, and Johan Roman becomes Chief Revenue Officer. The appointments fall in the company’s anniversary year, ten years after its founding as an ETH Zurich spin-off, and create the structure for the next growth phase. Exeon Analytics delivers holistic security analytics for organizations facing growing blind spots, encrypted traffic and regulatory pressure. Wayne Jennings joined Exeon Analytics in July 2024 and initially led Support and Engineering. As Chief Solutions Officer, he is responsible for the technical customer lifecycle, from pre-sales and proof of concept through implementation to long-term technical account management, and for the technical enablement of partners. Before joining Exeon Analytics, he was a Senior Manager in Cybersecurity & Privacy at PwC Switzerland, focusing on threat intelligence and incident response. Johan Roman br
euroAtlantic Airways Expands Long-Haul Fleet With a New Airbus A330-300 Aircraft2.9.2026 09:00:00 CEST | Press release
euroAtlantic Airways (“EAA”), a Njord Partners portfolio company and a leading Portuguese aircraft wet-leasing and charter business, is pleased to announce the induction of a new Airbus A330-300 aircraft into its fleet, further strengthening its long-haul widebody capabilities and reinforcing the Company's growth trajectory in the ACMI and charter markets. The Airbus A330-300 is leased from Jackson Square Aviation (JSA). Only 15 years old, the aircraft is configured in a three-class layout of Business, Premium Economy and Economy, accommodating a total of 290 passengers, and features full lie-flat seating in Business Class along with personal in-seat entertainment monitors fitted across the entire cabin. The aircraft, which will be registered as CS-TGI after completing its normal process of approval with authorities, has already completed its delivery journey, departing Kuala Lumpur (KUL) and arriving into Beja, Portugal (BYJ) on 17 August 2026. This aircraft type is known for its effi
Interoperability and Trust Key to AI Commerce: Alipay+ and S&P Global Report2.9.2026 08:33:00 CEST | Press release
Report shows consumers expect mobile wallets to evolve beyond payments into integrated platforms for travel, rewards, commerce and AI-powered servicesCross-border payments remain fragmented with more than half of consumers lacking access to preferred payment and facing uncertainty over payment acceptance AI adoption is accelerating across discovery and planning, but 43% express privacy concerns, and strengthening trust needed to scale AI-enabled commerce A new report by Alipay+, the unified wallet gateway of Ant International, in partnership with S&P Global, reveals a growing "commerce digitalisation gap", with people increasingly expecting seamless mobile payments and intelligent digital assistance, yet friction – from inconsistent payment acceptance to trust in AI – still define their experience. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260901394299/en/ The study, which surveyed 6,000 consumers across nine markets in
Axelspace Announces Partnership with Airbus Defence and Space to Deliver Satellite Imagery to a Broader Market2.9.2026 08:30:00 CEST | Press release
Axelspace Corporation (“Axelspace”), a leading microsatellite company committed to making “Space within Your Reach,” announced today a new agreement with Airbus Defence and Space, a global leader in Earth observation including optical and radar satellite imagery, to provide mid-resolution optical images captured by Axelspace’s Earth observation microsatellites “GRUS.” Under this strategic partnership, we will develop and deliver innovative solutions that meet long-term customer needs for utilizing satellite imagery. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260901360086/en/ GRUS is Axelspace's series of approximately 100 kg-class optical Earth observation microsatellites. GRUS-1 is currently operated as a four-satellite constellation, delivering high-frequency, wide-area imagery. This imagery, together with value-added solutions derived through processing and analysis, supports a broad range of industries, including agr
Kontoor Brands Unveils Helly Hansen Growth Strategy and 2030 Financial Targets2.9.2026 08:30:00 CEST | Press release
Kontoor Brands, Inc. (NYSE: KTB) today announced Helly Hansen’s long-term growth strategy and 2030 financial targets, which Kontoor Brands will present at the Helly Hansen® Investor Day later today. The plan is designed to scale Helly Hansen globally while significantly expanding its profitability through 2030. "With 150 years of technical heritage and an authentic right to win globally, Helly Hansen is a brand with tremendous long-term growth potential," said Scott Baxter, Chief Executive Officer and Chairman of the Board of Kontoor Brands. "Strong alignment between our teams has allowed us to integrate quickly and move straight to executing against the opportunity ahead. Our sustained investment in Helly Hansen will be a catalyst for its next phase of growth, and we are confident in our ability to deliver significant value for our consumers, employees and shareholders for years to come." A Focused Growth Strategy: To deliver against these targets, Helly Hansen’s growth is anchored in
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom