Asterion is looking for a buyer for its partnership with Enagás in Fibra Óptica.

Asterion Industrial Partners, a well-known investment fund, has initiated the process to divest from Axent, its joint venture with Enagás in the fiber optic and radio sector. To do so, it has hired the investment bank Green Hill, which will be responsible for finding a buyer for this stake. This move represents one of the last opportunities to access the Spanish fiber optic market, especially after the recent consolidation process in the sector.

Growth Potential and Market Interest

The sale of Axent not only provides a growth opportunity for established companies such as Reintel and Lyntia, but it also attracts the attention of international industrial funds and investors. The sale process, which will begin next year, is expected to generate high interest among potential buyers.

Origins and Evolution of Axent

Asterion’s entry into this market dates back to 2020 with the acquisition of the telecommunications platform Axión from the AMP Capital fund. This acquisition allowed Asterion access to Axent, a partnership formed in 2018 with the aim of commercializing Enagás’ 4,600 kilometers of fiber optic parallel to its network of 11,000 kilometers of gas pipelines.

Since then, Axent has experienced significant growth, extending its fiber optic network to over 5,500 kilometers and connecting key cities, data centers, and telecommunications nodes in Spain. Axent’s network, completely underground and with high-quality fiber optic, offers great accessibility for new interconnections.

Investment Potential in Axent

The future investor in Axent will be able to capitalize on its ability to handle significant traffic growth, thanks to its native network from 400 Gbps and its flexibility to integrate different partner networks. Additionally, Axent offers audiovisual communication, transport, hosting, and maintenance services for sectors such as radio, regional television, and telecommunications operators, managing over 5,000 service points in Spain.

Profile of Asterion Industrial Partners

Asterion Industrial Partners is an independent infrastructure-focused investment management firm in the European mid-market. With offices in Madrid, London, and Paris, it combines transactional and operational experience with an industrial approach and active management.

Future of Asterion and the Fiber Optic Sector

After launching its inaugural fund in 2020, Asterion is now preparing to launch a third fund with a target of 3 billion euros, potentially making it the largest infrastructure fund in Spain. In its five years, Asterion has completed significant transactions, including the sale of its renewable energy business to Repsol and the formation of a large European cable operators group.

Meanwhile, companies like Magtel are advancing in the deployment of urban and interurban fiber optic networks, using existing pipeline infrastructure to expand the fiber optic network in Spain.

Asterion’s divestment from Axent and the growing interest in the Spanish fiber optic market indicate a period of significant transformations in the sector, marked by innovation and expansion in an increasingly digitalized and connected market.

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