Cube Infrastructure Managers is pleased to announce the first closing, on September 13, 2016 of Cube Infrastructure Fund II, securing a total of € 358.5 million in capital commitments. The European Investment Bank is contributing €100 million to Cube II under the Juncker Plan to support the Fund Manager’s “Buy-Grow-&-Hold” investment strategy, citing the team’s high Environment, Social and Governance (ESG) standards as being one of the attributes that first brought the opportunity to their notice.
Covage has entered into a Share Purchase Agreement on July 19, 2016 to acquire Tutor, an independent French operator of neutral fiber optic network. Through this acquisition, Covage is positioning itself as the leading neutral fiber optic network operator in France, with a potential consolidated addressable market of ca. 1,085 000 homes and 120,000 business sites.
In 2015, Cube Infrastructure’s Public Transport Platform (Germany, Belgium, and Norway) posted € 979 million of Revenues and € 146 million of EBITDA*. This represents a 24% increase in revenues and 37% increase in EBITDA* compared to 2014. Since acquisitions the increase was respectively 41% and 54%.
On December 22, 2015, the management team of Cube Infrastructure Managers acquired from Natixis Global Asset Management all the outstanding shares it owned in Cube IM. As a result of this management buy-out, the management team now owns 100% of Cube IM.
Covage was awarded the public initiative network concession “Seine-et-Marne” in 2014. Covage will be responsible for building a backhaul, connecting homes (adressable market 320,000 homes) and operating the entire nework for the next 25 years. This constitutes a major landmark achievement for Covage, the Seine-et-Marne network being the largets ever attributed in France.
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.
