The Investment Management Corp. of Ontario is adding €250 million to its previous investments in euNetworks Group Ltd., a European bandwidth infrastructure company.
The cash injection is set to fund the company’s further organic growth, mergers and acquisitions and general corporate purposes. The company operates deep fibre networks in 17 cities in Europe.
“We seek to invest in world-class infrastructure businesses globally and are excited to be supporting one with our investment in euNetworks as they continue growth of their European platform,” said Tim Formuziewich, managing director and global head of the IMCO’s infrastructure program, in a press release.
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“We see bandwidth demand growth being extremely differentiated to other value drivers of infrastructure assets that offers diversification to our clients’ portfolios. That growth profile combined with euNetworks’ leading position in the European bandwidth infrastructure market and track record of successful capital deployment presented a strong investment opportunity for IMCO.”