Asterion establishes rural fibre platform to improve digital connectivity through high quality internet access in rural areas in the south of Spain.
In partnership with Teras Capital, Asterion will provide critical infrastructure for rural communication in the Spanish market
As first investment of the platform, Olivenet expands Asterion’s existing pan-European telecom exposure in line with geographic focus
Madrid, 27th June 2022 – Asterion Industrial Partners, an independent investment management firm focused on European infrastructure in the mid-market, announced today a partnership with Teras Capital for the development of a rural telecom fibre platform in Spain. Teras Capital is an investment boutique of seasoned telecom entrepreneurs who pioneered rural fibre consolidation in the Spanish market.
Asterion and Teras will work together to develop the platform in the south of Spain, a strategy very well aligned with Asterion’s deep sector knowledge, expertise as well as the long-standing commitment to investing in fibre in Europe and creating enhanced access and digital connectivity for municipalities and households in rural areas. Asterion will seek to apply its industrial approach and active asset management, leveraging its experience in fibre and in building out platforms together with Teras’ proprietary knowledge of the segment.
As part of the platform development, Asterion is delighted to announce the acquisition of Olivenet, a regional telecom provider that operates in Andalucia, with presence in approximately 35 municipalities and more than 900,000 Homes Passed. With Olivenet as the first and anchor investment of the platform, Asterion is uniquely positioned to create a sizable and leading player in the Spanish rural fibre space, complementing its existing footprint with a unique opportunity to achieve more than 1.5m Homes Passed and close to 6,000 km of fibre network.
Olivenet is the fifth investment of Asterion Industrial Partners’ Fund II, in line with its geographic focus on Spain, Italy, UK, and France. Asterion will support Olivenet’s continued growth, facilitating internet access to rural communities in the south of Spain, which is a critical element for communication and education.
Guido Mitrani, Founding Partner at Asterion Industrial
We are extremely happy about the partnership with Teras Capital and are looking forward to continuing to invest in the rural fibre space, this time in the Spanish market. We are excited to support Olivenet’s growth journey and are especially proud that the rural telecom fibre platform we will be rolling out will benefit municipalities and households in rural areas, improving their access to critical digital infrastructure.
