Cellnex Telecom has completed the acquisition of Dutch infrastructure operator Alticom. The transaction, which has been closed for €133M, will result in the addition of 30 new towers in the Netherlands and will provide the company with €11.5M of EBITDA in 2018.
Cellnex buys Alticom for €133M
Cellnex, Europe's leading independent wireless infrastructure operator, has acquired the Dutch company Alticom. It is committed to its growth in the Netherlands as an independent telecommunications infrastructure operator. In this country, there is also a higher penetration of mobile broadband based on 4G.
Alticom has wireless transmission equipment for voice, data and audiovisual content, which will join the 758 sites that Cellnex Netherlands has had until now.
With this purchase, Cellnex is taking a step into the future of 5G, thanks to the ability of Alticom's equipment to accelerate data processing and increase the pace of traffic.
Cellnex corporate finance analysis
Cellnex is at a good time to realise mergers and acquisitions. Over the last 3 years, Cellnex has experienced annual revenue growth. In 2016 it grew by 39% and in 2016 it grew by 16%, reaching revenues of €670M. 36% of revenues and 33% of ebitda are generated outside the Spanish market (in 2014 95% of ebitda originated in Spain). Italy is the second most important market with €239m of revenues (34% of the total).
On the other hand, its operating profit grew by 23 % in the last year.
Their solvency ratio has grown as a result of the mergers and acquisitions carried out over the last year. This debt had an average cost of 2.6 % as of the close of 2016.
What other acquisitions has Cellnex made?
Apart from the Alticom acquisition, Cellnex has made 2 mergers and acquisitions more so over the past year, with the aim of expanding across Europe. In 2016 it reinforced its commitment to Italy by buying for €18.65m CommsConan operator that provides mobile broadband coverage solutions in large open or enclosed spaces characterised by a high concentration of users.
A few months later, it bought Shere Group, which allowed it to enter the UK and strengthen its position in the Netherlands. Shere Group owns 1,004 telephone towers, of which 540 units are spread across the UK, mainly in England and Wales.
According to the company itself, Cellnex has €2,000m available to grow through mergers and acquisitions. In addition to the markets in which it is already present, Cellnex plans to expand into other Western European countries such as Germany and Switzerland with the aim of expanding its footprint.
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