Partners Group Holding acquires Italian FWA broadband provider Eolo

Partners Group Holding, a global private markets firm, has, on behalf of its clients, agreed to acquire a 75% stake in Eolo, an Italy-based fixed wireless access (FWA) broadband provider, from Searchlight Capital Partners and Cometa, an entity owned by Elmec Group and EOLO’s founder and CEO, Luca Spada. The transaction values Eolo at an enterprise value of over EUR 1.2 billion.

As per the press released issued by Partners Group, Partners Group will work with Luca Spada and the rest of Eolo’s management team on a plan that will include densification of Eolo’s unique FWA network. The plan will also include further expansion into underserved rural areas and development of the Eolo’s wholesale customer base, starting with the recently signed partnership agreement with Wind Tre and Memorandum of Understanding with TIM, two mobile and fixed telecoms operators in Italy.

The advisors

Partners Group Holding in-house general counsel Andreas Knecht (pictured) acted as legal counsel on this transaction.

As for Searchlight Capital Partners, Canadian based in-house general counsel Nadir Nurmohamed acted as legal counsel alongside Clifford Chance law practice. While Morgan Stanley acted as financial advisors.

Eolo owns and operates more than 3,400 Base Transceiver Stations, which transmit fixed wireless internet between its network and end users, and 13,000 kilometers of fiber backhaul, covering roughly 80% of Italian households. Currently, the Company connects over 600,000 households and businesses to the internet, the majority of which are based in less densely populated areas.