Alantra advises on the sale of ITETE to Circet, owned by Advent International
Madrid – Alantra, the global investment banking and asset management specialist, is pleased to announce that it has advised the shareholders of ITETE, a leading O&M Telecommunications Infrastructure supplier in Iberia and LatAm, on its sale to Circet, a portfolio company of Advent International. The transaction occurs against the ongoing consolidation of the O&M Telecommunications Infrastructure sector that is taking place not only in Iberia, but also in Europe and LatAm.
ITETE is a Spanish family-owned company that has been operating in the Telco-Infra network in Iberia and Latin America for the last 30 years. The Company develops last mile provision and maintenance services and external plant construction and maintenance, having built 35,000 km of fiber optic networks in Latin America and Europe. ITETE’s clients include leading companies in the telecommunications sector such as Telefonica, Orange and Euskaltel, among others.
Circet, owned by Advent since 2018, is the number 1 Network Service Provider in Europe, recognized for being a pioneer in the management of turnkey solutions and process industrialization. Circet is one of the key players consolidating the European O&M Telecommunications Infrastructure sector. Its customers include telecom service providers and manufacturers, network infrastructures owners and operators, as well as state and local government bodies. Circet has operations in France, Germany, Ireland, United Kingdom, Spain and Morocco.
The acquisition of ITETE supports Circet’s build-up process in Europe and consolidates its position in the Iberian O&M Telecom-Infra sector, and follows the acquisition of Cableven in 2018. Circet is now one of the five largest companies in the sector.
Alfredo Hernández-Redondo, Partner at Alantra commented: “We are delighted to have advised ITETE’s shareholders on the sale of the Company to Circet as part of the consolidation process that is taking place in Spain and LatAm. The strategic position of ITETE has allowed us to maximize the terms and conditions of the deal for our client. This new transaction in the O&M Telecom-Infra sector, in addition to the ones we have already closed over the last year and the ones we are executing, positions Alantra as one of the reference advisors in the sector.”