Cordiant Digital Infrastructure Announces Acquisition to Strengthen Digital Infrastructure Portfolio Company in Ireland

Cordiant Digital Infrastructure Limited ‘CORD’ – the operationally focused investor specialising in digital infrastructure, managed by Cordiant Capital – today announced that a subsidiary of its portfolio company Speed Fibre DAC (‘Speed Fibre’) has entered into an agreement to acquire the entire issued share capital of BT Communications Ireland (‘BTCIL’), the wholesale and enterprise business unit of BT Ireland.

The acquisition is expected to enhance Speed Fibre’s ability to deliver advanced connectivity solutions through the integration of BTCIL’s complementary capabilities and domestic customer base. By combining resources, Speed Fibre expects to achieve greater operational efficiencies and deliver a broader range of connectivity products and services for customers across Ireland.

The acquisition has been entered into for an enterprise value of €22 million.

Key Transaction Highlights:

– BTCIL provides wholesale fibre and B2B connectivity comprising of ca. 3,400 km fibre network infrastructure

– Enhanced service capabilities for existing customers

– Strengthened presence in telecom, enterprise, and government sectors

– Continued partnership with BT Ireland through 3-year service agreements

– Alignment with CORD’s ‘Buy, Build & Grow’ investment strategy

The transaction demonstrates CORD’s commitment to its ‘Buy, Build & Grow’ model, focusing on strategic acquisitions that create long-term value through operational improvements and market expansion. Following the completion of the transaction, BT Ireland will remain a key customer of the combined business under newly established three-year agreements, ensuring continuity of service and maintaining strong business relationships.

The acquisition is subject to customary closing conditions and regulatory approvals, with completion expected later in 2025.

Steven Marshall, Executive Chairman of Cordiant Digital Infrastructure Management , and Benn Mikula, CEO of Cordiant Capital, said:

“This transaction is an important addition to our Speed Fibre platform, representing a significant step in our strategy to build scale in key digital markets such as Ireland. BT Communications Ireland’s capabilities complement Speed Fibre’s existing operations, enhance our ability to support the growing connectivity needs of Irish businesses and align with CORD’s investment strategy.”

Peter McCarthy, CEO, Speed Fibre Group, said:
“We are excited to welcome BT Communications Ireland into the Speed Fibre Group family. This acquisition, when completed, will enable us to deliver even greater value to our customers by expanding our range of connectivity solutions. It is a positive development for the Irish market, that we expect to provide us with the scale and capabilities to better serve our growing customer base.”

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About Cordiant Digital Infrastructure Limited

Cordiant Digital Infrastructure Limited primarily invests in the core infrastructure of the digital economy: data centres; fibre-optic networks; telecommunications and broadcast towers – in Europe and North America. Further details about the Company can be found on its website at www.cordiantdigitaltrust.com.

About Cordiant Capital

Cordiant Capital Inc is a specialist global infrastructure and real assets manager with a sector-led approach to providing growth capital solutions to promising mid-sized companies in Europe, North America and selected global markets. Since the firm’s relaunch in 2016, Cordiant, a partner-owned and partner-run firm, has developed a track record of exceeding mandated investment targets for its clients.

Cordiant focuses on the next generation of infrastructure and real assets: sectors (digital infrastructure, energy transition infrastructure and the agriculture value chain) characterised by growth tailwinds and technological dynamism. It also applies a strong sustainability and ESG overlay to its investment activities.

With a mix of managed funds offering both value-add and core strategies in equity and direct lending, Cordiant’s sector investment teams (combining experienced industry executives with traditional private capital investors) work with investee companies to develop innovative, tailored financing solutions backed by a comprehensive understanding of the sector and demonstrated operating capabilities. In this way, Cordiant aims to provide value to investors seeking to complement existing infrastructure equity and infrastructure debt allocations.

About Speed Fibre

Speed Fibre is an open access fibre infrastructure provider in the Republic of Ireland and includes the businesses of Enet and Magnet Plus. Further details about Speed Fibre can be found on its website at www.speedfibregroup.ie

Enet is the manager of Ireland’s 88 metropolitan area networks (MANs) – fibre rings that connect 94 large regional towns to high-speed international networks.  Aside from managing the MANs, under a government concession, Enet has a managed services contract for Irish Rail’s long-distance fibre backhaul network. It also owns key infrastructure such as the T5 ring which circles the M50 and connects many of the country’s biggest data centres. In total, Enet manages or owns 5,600km of fibre. The concession to run the MANs lasts until March 2030.

Magnet Plus operates an independent connectivity network. It provides connectivity for some of the world’s biggest technology companies, as well as telecommunications, data connectivity, and security services to both commercial and residential markets in Ireland, throughout Europe, the US and beyond.

About BTCIL

BT Communications Ireland Limited (BTCIL) is one of the main alternative fixed line communications providers in Ireland. The business currently provides communications solutions to domestic and wholesale telecommunications operators, government departments and enterprise customers delivering networking, voice, data, security and managed services. BTCIL’s B2B business has historically been focused on serving global multinational companies. This element of its business will be retained by BT going forward and continue to operate in Ireland.