Cube Infrastructure Managers announces investment in Fibernet through its Connecting Europe Broadband Fund
- Connecting Europe Broadband Fund has invested in a greenfield fibre-to-the-home (FTTH) project operated by Fibernet in Finland.
- The project will provide full fibre broadband to 41,000 premises within three years, reaching 6 municipalities in semi-urban and rural communities in Finland.
- Fibernet is CEBF’s ninth investment in Europe and the first in Finland.
- Local sponsor of the project is Ociusnet Group, a Sweden-based professional services and turn-key telecom contractor specialised in the planning and construction of FTTx networks.
Luxembourg, November 22, 2022 – Cube Infrastructure Managers’ (“Cube”) Connecting Europe Broadband Fund (“CEBF”) is pleased to announce its investment in a promising fibre-to-the-home (FTTH) project in Finland operated by Fibernet, a new wholesale FTTH operator. The project represents an initial investment plan of c. €14 million for the first phase.
The project, CEBF’s ninth investment in Europe and first in Finland, will involve the deployment of state- of-the-art FTTH infrastructure to connect semi-urban and rural communities in Finland, in line with CEBF’s mission to enhance connectivity for households and businesses across Europe.
Fibernet plans to cover c. 6 municipalities with its transmission infrastructure and provide full fibre broadband to 41,000 premises within three years. Fibernet has a strong local management team and support from municipalities in target areas. In addition, the company has a partnership with Ociusnet Group, an established Sweden-based professional services and turn-key telecom contractor specializing in the planning and construction of FTTx networks.
Janne Ahola, CEO of Fibernet, commented: “We are extremely pleased about CEBF’s investment in our project. We have already built a stable footprint and now, thanks to our cooperation with Cube and Ociusnet, we have a great possibility to bring fibre broadband to thousands of households in Finland.”
Izzet Güney, Partner of Cube Infrastructure Managers, commented: “We are pleased to announce this new investment which will allow the deployment of new fibre networks connecting less populated areas across Southern Finland. With this transaction, CEBF is pursuing its investment program in a dynamic environment while continuing to push for an acceleration of fibre deployment at the European level.”
CEBF was advised on Finnish legal and tax matters by HPP Attorneys (Helsinki) and on commercial and technical matters by Analysys Mason (Stockholm).
About Cube Infrastructure Managers
Cube Infrastructure Managers is an independent mid-market infrastructure investor joining deep sector knowledge with operational and financial expertise. Since foundation in 2007, Cube has leveraged its operational and financial capabilities to pioneer and transform essential and local infrastructure assets, in areas such as fibre optic, district heating, mobility and EV charging. The firm delivers essential infrastructure assets to local communities and authorities, driving significant growth across its portfolios. Cube has raised an aggregate €4.0 billion and manages four funds. Cube Infrastructure Fund, Cube Infrastructure Fund II and Cube Infrastructure Fund III are focusing on investments in regulated, brownfield infrastructure. The Connecting Europe Broadband Fund is a fund dedicated to greenfield investments in broadband infrastructure projects. Since its creation, Cube has successfully made more than 40 investments across Europe, and will continue to invest in profitable and responsible investment opportunities with strong growth potential.
https://www.cubeinfrastructure.com/
About Fibernet
Fibernet Finland Oy (“Fibernet“) produces high-quality telecommunication connections – based on fiber optic technology – for households, companies, and public institutions. The company’s team possess extensive experience in deploying high-quality broadband networks in Finland. Together with local partners, Fibernet implements projects using innovative, highly efficient, and environmentally friendly technologies, allowing for a better carbon profile. The connections are implemented on the principle of open access, enabling network users to select the internet service provider of their choice.
About Ociusnet Group
Ociusnet Group is a complete end-to-end provider of fibre network technologies and services, from planning and design to construction and operations. By focusing on innovation and using the most technologically advanced solutions, Ociusnet reduces implementation costs and shortens the time to market for its customers in the rapidly growing market of digital infrastructure. Ociusnet is headquartered in Stockholm, Sweden, with local operations in selected markets, all with the mission to help its customers ‘Experience Broadband Faster’.