Macquarie European Infrastructure Fund 5 (MEIF5) agrees to acquire majority stake in INEA

Macquarie European Infrastructure Fund 5 (MEIF5), which is managed by Macquarie Infrastructure and Real Assets (MIRA), has agreed to acquire a majority stake in INEA, the leading telecommunications and fibre-to-the-home (FTTH) network operator in Western Poland. MEIF5 will acquire the stake from Warburg Pincus and INEA’s founder and co-shareholders. 

INEA, the leading telecommunications infrastructure owner and operator in Western Poland, offers quadruple-play telecommunications services to residential, business and public customers, including cable TV, broadband, fixed and mobile telephony. At 7,000 km in length, it also owns the largest regional fibre backbone network in Poland, and a high quality last mile network passing over 500,000 homes, representing over 40 per cent of premises in the region. 

Leigh Harrison, European Head of MIRA, said: “As one of the largest fibre-to-the-home and cable network operators in Western Poland, INEA has successfully built a best in class network that delivers essential telecommunications services to the community. With considerable potential to expand the business, we are delighted to work alongside INEA’s current management to continue strengthening its position as the preferred telecommunications infrastructure access and service provider in the region.” 

Janusz Kosiński, INEA’s founder and CEO, said: “MIRA’s long-term and patient approach to infrastructure investing and strong sector expertise will benefit our business as we look to grow and expand. We look forward to working closely with them over the years to come.” 

Adarsh Sarma, Managing Director, Warburg Pincus, commented: “We are proud of the transformative investments and significant network expansion completed during our ownership of INEA.  The Company is very well positioned for future growth, and we wish Janusz and the entire INEA team continued success. As growth investors, we feel privileged to have supported INEA in building the best quality operator with the best infrastructure in the country.”  

INEA will be MIRA’s second investment in Poland having constructed and developed DCT Gdansk, the deep-water container terminal, since 2005. The acquisition of INEA is MEIF5’s sixth investment, following the announcement of the EP Infrastructure, Race Bank, Offshore Wind Co (OSWCo), CLH and Empark investments. 

The transaction is expected to reach financial close by early February 2018 with completion conditional upon customary Polish competition approvals. 

About INEA Group

INEA, headquartered in Poznan, Poland, was founded in 1992 and is the leading telco operator in Western Poland. INEA provides advanced telecommunication services to both residential and business customers based on NGN (New Generation Network), including fiber-to-the-home networks (FTTH). INEA has well-invested and deep infrastructure amounting to 7,000 km of backbone and 5,000 km of last mile network. Within the range of INEA is 500,000 households and INEA services are used by 250,000 of them. Company’s product portfolio comprises: digital cable television, high-speed Internet access, telephone service & mobile services and B2B services.

www.inea.pl