Sipartech, a France-based dark fiber provider, today announced it has secured a €180m syndicated bank loan from Natixis to help fund the growth of its fiber network. Currently, Sipartech’s equity sponsor is Blackstone Tactical Opportunities, who first invested in the company in January 2020.
Over the next three years, Sipartech will construct new long-haul fiber optic infrastructure in several regions in France and Europe. Additionally, the company will interconnect all of its metropolitan area networks in Europe, enhancing its coverage.
Through these fiber deployment initiatives, Sipartech will be able to meet the growing needs of its customers for dedicated and diverse dark fiber infrastructure in Europe. Indeed, these customers include data centers, carriers, over-the-top (OTT) media service providers, and enterprises.
Fiber Network Infrastructure – Sipartech
Sipartech currently has a network spanning 15.5k fiber route miles (25.0k fiber route kilometers) in Europe. Of this total, the company has 8.1k fiber route miles (13.0k fiber route kilometers) in France.
Metro (or Intra-City) Network Sections
Sipartech operates a dense metropolitan fiber network in France’s major cities, which include Paris, Marseille, Lyon, Bordeaux, and Lille.
The company deploys its fiber network through existing city infrastructure, such as sewers, which is particularly the case in Paris. Additionally, Sipartech builds fiber by performing civil engineering work, allowing it to control its own telecommunications enclosures.
Long-Haul (or Inter-City) Network Sections
Sipartech is building-out a pan-European fiber backbone, with the company’s network presently in 10 European countries. Specifically, the company’s fiber network reaches France, the UK, Germany, Italy, Spain, the Netherlands, Switzerland, Belgium, Ireland, and Monaco.
Additionally, the company’s fiber network connects 128 major data centers located in key capital cities throughout Europe.
Fiber Growth Plan – Sipartech
The €180m growth plan set out by Sipartech involves a first phase to construct 870 fiber route miles (1.4k fiber route kilometers) of fiber network infrastructure in new regions of France. The company targets having this first phase operational by the end of 2021. More precisely, these overall regions of France are i) the Atlantic Coast and ii) Provence-Alpes-Côte d’Azur (Provence).
Transaction Advisors – Sipartech and Natixis
Sipartech and, by affiliation, Blackstone’s financial advisor was G2C Corporate Finance. Additionally, Sipartech’s legal advisors were Hoche Avocats (corporate) and Levine Keszler (financial).
Natixis’ legal advisor was CMS Francis Lefebvre Avocats.