Jamieson is delighted to announce that it has advised the management team of Ufinet Group on its sale by the Cinven Fifth Fund. The highly competitive auction resulted in a carve up of the company into two divisions; the Spanish business (“Ufinet Spain”) due to be sold to Antin Infrastructure Partners and “Ufinet International” to the Sixth Cinven Fund.
The existing Ufinet Group is headquartered in Madrid and acts as a fibre optic telecommunications services wholesale operator. The Group has over 65,000 km of fibre optic network deployed across two continents and employs approximately 1,000 people. Under the control of the Cinven Fifth Fund, the Group achieved strong organic growth, alongside a successful buy and build strategy in Central & South America and accelerated expansion in Spain.
The current management team will be split between the two divisions with Iñigo Garcia del Cerro Prieto continuing to lead Ufinet International and Ufinet Spain being headed up by Juan Francisco Fraga Díaz-Chirón.
“Jamieson has played an integral role in aiding the Management team throughout the sale process from the very beginning, and has shown particular strength in negotiating a complicated process with numerous bidders, various potential Newco structures, and the division of a management team between the two entitites.”
Iñigo Garcia del Cerro Prieto, CEO
Jamieson advised the Group’s senior management team and supported negotiations with several bidders for both combined and separated business scenarios. Jamieson will continue to advise both teams through to completion.
The Group management team was advised by José Basabe, John Greenland, Laura Yell and Pippa Knowles on their investment in the new entities and the terms of the new incentive plans.