Irish Infrastructure Fund completes acquisition of enet

Press release
02nd Dec 2019

enet, Ireland’s largest open-access network operator, has announced the completion of its acquisition by the Irish Infrastructure Fund (IIF), a fund managed by AMP Capital and Irish Life Investment Managers.

The IIF acquired a majority stake in enet in August 2017, and purchase of the remaining 22% has now reached financial close following confirmation of regulatory approvals. The IIF manages capital for 30 institutional investors, 29 of which are Irish pension funds, trusts, and investment managers. To date, the IIF controls over €500m of investments across energy, telecoms, tourism and healthcare in Ireland.

enet operates the largest alternative wholesale telecoms network in Ireland, which is facilitating the delivery of affordable, world-class broadband and wireless services to homes and businesses across the country. With over 100 employees based in Limerick and Dublin, enet currently works with 70 different retail service providers to bring high-quality broadband and wireless to more than one million end users throughout Ireland.

enet’s wholesale networks incorporates 94 Metropolitan Area Networks (MANs), operated on behalf of the Irish Government, and it has a strong track record in delivering defined policy objectives for the State. In addition, enet operates a unique dark fibre backhaul infrastructure transiting the rail and gas network, as well as proprietary metro networks in Dublin and regional Ireland.

The company also operates one of the largest licensed wireless networks in the country. Taken together, enet’s fibre and wireless infrastructure creates a fully integrated, nationwide network that is truly open access in nature, and enables its carrier customers to deliver world class bandwidth services to their customers throughout Ireland.