Stonepeak Infrastructure Partners closes euNetworks interest purchase

Stonepeak Infrastructure Partners says it has closed the acquisition of a majority interest in fiber-optic network services provider euNetworks. Terms of the deal, announced last November, were not disclosed. However, Stonepeak has promised to supply up to $500 million of committed growth capital for both organic and inorganic development of the company. Existing euNetworks investors, including Columbia Capital and Greenspring Associates, continue to hold stakes in the company.

"We're very pleased to have closed our transaction," said Brady Rafuse, euNetworks CEO. "I genuinely believe the combination of Stonepeak, Columbia, and many of our previous investors coming together as the new euNetworks represents a fantastic opportunity for our customers, our people, our partners, and the communities in which we operate."

euNetworks owns and operates 14 fiber-based metro networks connected via a fiber backbone that covers 49 cities in 15 countries (see, for example, "euNetworks deploys fiber-optic network in Manchester, UK" and "euNetworks adds Stockholm connection to European DWDM network"). The fiber-optic network offers direct connections to more than 300 data centers, the company asserts. The infrastructure also directly connects to 13 cloud platforms and provides access to another seven. euNetworks offers such metropolitan and long-haul services as dark fiber, wavelengths, and Ethernet to customers in such niches as wholesale, finance, content, media, data center, and enterprise.

Stonepeak also holds a majority interest in Cologix, which provides data center services in the U.S. and Canada. euNetworks has a partnership agreement with Aqua Comms for connectivity to the latter's AEConnect (AEC-1) transatlantic submarine network.

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