CapMan Infra’s portfolio company Valokuitunen Oy and Telia Finland have agreed on the sale of Telia’s residential area fibre network to Valokuitunen. If realized, this will be the largest fibre network deal in Finland to date, and over 16,000 households will become Valokuitunen’s customers. The network consists of more than 31,500 households in 72 municipalities.
“This deal further strengthens Valokuitunen’s market leading position in Finland. It is the largest fibre network deal ever made in Finland, as the network covers tens of thousands of households. With this deal, we can now offer fibre based on an open network to an even broader customer base,” says Valokuitunen’s CEO Heikki Kaunisto.
“Valokuitunen has grown its operations systematically, nearly twenty folding its network coverage in five years. This deal accelerates the company’s growth further, and, through the Open Fiber concept, brings freedom of choice to even more Finnish homes,” comments CapMan Infra’s Investment Director, Sauli Antila.
For the time being, services for the fibre customers transferring in the deal will continue as before, and customers do not need to take any action. Valokuitunen and Telia will inform customers of any changes when they become relevant.
Valokuitunen will convert the network to an open network in the coming years, meaning that customers will have the freedom to choose, compare, and switch internet service providers according to their needs. In addition to internet connections, other services will also be available in the open network.
The implementation of the agreement still requires the usual regulatory approvals. The deal is expected to close at the end of 2024.
Founded in 2020, Valokuitunen Oy is a company owned by CapMan Infra (60%) and Telia Company (40%), which builds fibre networks nationwide for detached houses and selected apartment buildings. The company has grown to become the market leader in the fibre-to-the-home industry during its four years of operation. In 2020, Valokuitunen acquired an Open Fiber network from Telia covering 20,000 households and has continued to expand it mainly by building networks extensively across Finland, but also by purchasing already built networks.
With this deal, Valokuitunen’s network will cover nearly 400,000 households by the end of 2024.
For more information, please contact:
Sauli Antila, Investment Director, CapMan Infra, +358 40 658 9708
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.8 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com
