Fintech PR
EQT enters into exclusive negotiations with Eutelsat Group to acquire a majority stake in its Satellite Ground Station Infrastructure Business
- The Ground Station Business consists of approximately 1,400 antennas across more than 100 locations globally, enabling satellite communications for Eutelsat Group, OneWeb, and other third-party customers.
- The Ground Station Business operates within a predictable and stable part of the satellite value chain. It also benefits from serving both Geostationary Orbit and Low Earth Orbit satellites used for a diverse range of applications including connectivity and broadcasting.
- EQT would support the continued development of the Ground Station Business in its journey to becoming a premier independent ground station operator globally, through investments in new and existing antenna infrastructure and M&A-driven growth.
STOCKHOLM, Aug. 9, 2024 /PRNewswire/ — EQT is pleased to announce that the EQT Infrastructure VI fund (“EQT”) has entered into exclusive negotiations to acquire a majority stake in Eutelsat Group’s Ground Station Infrastructure Business (or “the Ground Station Business”). EQT would own 80% of the capital, while Eutelsat Group would remain committed as long-term shareholder, anchor tenant and partner of the new company with a 20% holding. The contemplated transaction values the new entity at an enterprise value of EUR 790 million.
The Ground Station Business is a global infrastructure platform with a large, existing footprint of satellite ground stations and significant investment potential. Satellite ground stations enable the transmission of data between the Earth and orbiting satellites. They play an increasingly important role in global telecommunications, helping to enable reliable and low-cost connectivity to billions of people around the world that are outside of coverage for fixed and mobile connectivity solutions.
The satellite industry is experiencing a dynamic period. The well-established Geostationary Earth Orbit satellite segment provides a strong foundation to support further investment in new growth areas. In particular, the development of satellite constellations in non-geostationary orbit and the emerging connectivity applications that they enable are expected to see substantial investment, brought on by significantly reduced launch costs. The continued deployment of satellites is expected to render strong demand for existing and new ground station infrastructure over the coming decade.
The transaction would carve out passive assets, including land, buildings, support infrastructure, antennas and connectivity circuits, to form a new company which would become a standalone legal entity and will be rebranded after closing of the transaction, with the headquarters to remain in France. The Ground Station Business benefits from a resilient financial profile and a robust position in the satellite value chain due to its high-quality global asset base. On completion of the transaction, Eutelsat would enter into a long-term framework master service agreement (MSA) with the Ground Station Business and become the anchor tenant.
EQT would support the Ground Station Business in its ambition to become the global independent leader in the ground station segment of the satellite industry. This would require continued investments in upgrading and building new sites, notably for Low Earth Orbit antennas, as well as pursuit of inorganic growth opportunities across the vast and fragmented global ground station market. It would be the latest transaction by EQT Infrastructure in France, which in the past 24 months has also acquired Trescal, a calibration services firm, and Ocea Group, a heat submetering infrastructure provider.
Carl Sjölund, Partner within the EQT Value-Add Infrastructure advisory team, said: “At EQT, we identified satellite ground stations as an attractive digital infrastructure vertical several years ago. They play an important role in ensuring global connectivity, especially for those not covered by fixed and mobile connectivity solutions, and require deep global expertise in developing and operating telecommunications infrastructure businesses. We are delighted to partner with Eutelsat Group to create a ground station leader and capture the growth opportunity fueled by technological innovation.”
Eva Berneke, Chief Executive Officer of Eutelsat Group, said, “We are proud to become the first satellite operator to embark on this innovative transaction which would allow us to build on the model adopted in other industries, and to optimise the value of our extensive ground network. In EQT we have found a partner of the highest quality, who shares our vision. This transaction would represent a win-win situation for all parties, and would enable Eutelsat to strengthen its financial profile, whilst continuing to rely on the unparalleled quality and reliability of its ground infrastructure. Moreover, we are confident that with the backing of EQT, the business would be in a position to fully embrace the opportunities opening up to it as the new global leader in this dynamic sector.”
The transaction is subject to customary regulatory conditions and approvals, as well as consultation with French security authorities and the appropriate employee representative bodies. It is expected to close in Q1 2026.
EQT was advised by Rothschild (M&A), BCG (Commercial, IT & Carve-out), A&O Shearman (M&A Counsel), Paul Weiss (Financing Counsel), KPMG (Financial & Tax), NovaSpace (Technical).
With this transaction, EQT Infrastructure VI is expected to be 45-50 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on target fund size.
Contact
EQT Press Office, [email protected]
The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Infrastructure VI will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.
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The following files are available for download:
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Ground Station Business – EQT Press Release 09082024 |
PORT VILA, Vanuatu, Jan. 13, 2025 /PRNewswire/ — Vantage Markets, a leader in online trading solutions, has expanded its popular Deposit Bonus promotion to include Copy Trading Accounts, enhancing opportunities for Signal Providers and Copiers to boost their trading potential. With a thriving community of over 69,000 copy traders as of December 2024, this initiative underscores Vantage’s dedication to empowering traders globally.
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DUBLIN and STAMFORD, Conn., Jan. 13, 2025 /PRNewswire/ — AIP Capital, an alternative investment manager focused on opportunities in asset-based finance today announced that it has expanded its leadership team with several new hires, including Chris O’Scannlain, Chief Risk Officer based in AIP’s Stamford, CT office and Omar Mian, Managing Director, EMEA based in AIP’s Dublin, Ireland office. AIP is also announcing the promotion of Sinead O’Donnell to Chief Financial Officer.
“We are pleased and honored to welcome both Chris and Omar as members of our growing team,” said Jared Ailstock, Managing Partner at AIP Capital. “They will be instrumental as we grow the AIP platform and bolster our capabilities as a global full-service platform. We also recognize Sinead’s leadership and contributions to AIP, and we are excited to promote her to Chief Financial Officer.”
As Chief Risk Officer, Mr. O’Scannlain will be responsible for establishing and maintaining an independent risk function for identifying, monitoring and escalating risks to facilitate investment decision and active portfolio management. Mr. O’Scannlain brings over twenty years of global experience in aviation finance. Prior to joining AIP Capital, Mr. O’Scannlain worked at Apollo PK AirFinance, as Head of Credit Risk covering a global portfolio. Before joining Apollo PK, Mr. O’Scannlain spent ten years covering the Americas at SMBC Aviation Capital in New York and Dublin. Mr. O’Scannlain also served as an associate analyst on the Airlines and Aircraft Lessors equity research team at Citigroup Global Markets. He began his career on the corporate finance team at US Airways where he supported a comprehensive Chapter 11 restructuring and recapitalization. Mr. O’Scannlain has a MBA from the University of Michigan Ross School of Business and BA in History from the College of the Holy Cross.
As Managing Director, EMEA, Mr. Mian will be responsible for all commercial, marketing and origination efforts across the aviation platform throughout the EMEA region. Prior to joining AIP Capital, Mr. Mian was a Senior Director of Customer Finance in The Boeing Company’s Commercial Airplanes division responsible for airlines in Europe as well as global leasing companies and asset managers. Mr. Mian was also a Board Member of Boeing Ireland Ltd, having moved to Dublin in June 2023 after initially joining Boeing Capital Corporation in 2019 based out of Dubai, where he was responsible for airlines and financial institutions across Middle East & North Africa. Prior to Boeing, Mr. Mian worked at Citigroup, Standard Chartered Bank and First Abu Dhabi Bank in their respective corporate & investment banking divisions where he gained extensive experience in originating, structuring and executing a wide array of financing solutions across a variety of industry sectors, especially aviation, throughout the EMEA region. Mr. Mian holds a Master of Science in International Accounting and Finance from The London School of Economics and Political Science, and a Bachelor of Arts in Business Economics from the University of Durham.
As Chief Financial Officer, Ms. O’Donnell will continue her responsibly of leading AIP’s Finance and Operations team and will assume incremental responsibility and accountability across AIP’s equipment finance and asset management platforms. Prior to this role, Ms. O’Donnell was Chief Accounting Officer and has been with AIP since its founding in 2023.
About AIP Capital
AIP Capital (AIP) is a global alternative investment manager focused on opportunities in asset-based finance with approximately $3 billion of assets under management and over 30 employees globally. AIP believes its unique investment strategy, relationships, and hands-on approach enable AIP to execute its mission of generating attractive risk-adjusted returns for its clients across market cycles. With offices in Stamford, Dublin, New York and Singapore, AIP maintains a global footprint and is backed by a full platform of professionals across finance, technical, legal, risk management and underwriting.
For more information about AIP Capital or to speak with company executives, please contact [email protected].
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PARIS, Jan. 13, 2025 /PRNewswire/ — It is with deep sadness that iM Global Partner (iMGP) announces the passing, one month ago, of our dear friend and colleague, Philippe Uzan.
Philippe’s exceptional career in asset management spanned more than 30 years and is marked by remarkable achievements in the organizations for which he worked and deep contributions to the industry as a whole. His passing is a tremendous loss to all who knew and worked with him.
Philippe joined iM Global Partner in February 2020 as Deputy CEO and CIO Global Asset Management, responsible for overseeing our financial strategies and products and designing value-added investment solutions for our clients across Europe and the United States.
His expertise spanned all asset classes, and he had a deep understanding of markets and their impact on investors and their investment needs. He was an eloquent man who contributed a number of papers and articles to the media, always with the intention of educating and making financial concepts more relatable. He has left an indelible mark on our organization and on the broader industry.
Prior to joining iM Global Partner, Philippe was latterly Chief Investment Officer at Edmond De Rothschild Asset Management, where he worked for 11 years and where he led the portfolio management teams, optimizing the synergies between analysis and portfolio management. He previously spent three years as Research and Global Asset Allocation Director, where he developed the portfolio management and research teams and modernized investment processes and the product range.
Philippe began his career as an Equity Derivatives Trader at Société Générale and held roles at AGF Asset Management (now part of Allianz Global Investors) and Natixis AM.
Throughout his career, Philippe’s outstanding intelligence, humility, and collaborative spirit earned him the respect and admiration of his peers.
Philippe Couvrecelle, Founder and CEO of iM Global Partner, expressed his heartfelt condolences: “It was with infinite sadness and pain that I learned of Philippe’s passing from a devastating illness. I had known Philippe closely for almost 20 years, as we worked together for Natixis, Edmond de Rothschild and iMGP. I pay immense tribute to his humanity, his sense of humor, his brilliant intelligence and his presence, which I will deeply miss. We had shared so much and still had so much to do together. In his memory, we will continue our path forward with strength, success and intensity, always preserving our values and our company culture to which he was so attached.
We will all miss Philippe enormously at iM Global Partner. He will be remembered not only for his professional achievements but also for his warmth, generosity, kindness and his unwavering dedication to his colleagues and community. Our thoughts are with his wife and three children, his family, friends and loved ones during this difficult time.”
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CONTACT: [email protected]
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