Rodin Group and Connecting Europe Broadband Fund announce a high-quality fiber-to-the-home €43 million investment in the Province of Groningen
Connecting Europe Broadband Fund (CEBF) will invest in Rodin Group to enable the deployment of a high-quality fiber-to-the-home (FTTH), open-access network for residential and business users in the less dense areas of the Province of Groningen.
The network will cover over 109,000 households and businesses for a total investment of over EUR 43 million
This investment marks the first project for the CEBF in The Netherlands.
Connecting Europe Broadband Fund (CEBF) and Rodin Group B.V. announced today the agreement to invest in a high-quality fiber-to-the-home (FTTH), open-access network for residential and business users in the province of Groningen, which will cover over 109,000 households and businesses. This investment marks the first project for CEBF in The Netherlands.
The Northern part of The Netherlands is, so far, one of the areas of The Netherlands, which is the least covered by fiber. The project, which is being announced now, aims at covering the less dense areas of the Province of Groningen, to the benefit of all end users in that Province.
Based on the agreement that has been concluded, CEBF will become a majority shareholder of Rodin Group, in partnership with the existing shareholders of Rodin Group.
Renaud de Matharel, CEO and Managing Partner of Cube Infrastructure Managers, said: “We are pleased to announce our partnership with Rodin Group for the Province of Groningen. This transaction allows us to contribute to the deployment of fiber in the less well served rural areas of The Netherlands, which remains one of the most interesting European markets for digital technologies and infrastructure. In that context, we are particularly happy to be able to rely on Rodin, a very dynamic actor with a strong local anchor and an outstanding track record in the deployment of next generation broadband infrastructure.”
Jan Peter de Groot, CEO of Rodin Group said: “We are proud and delighted to partner with CEBF. In 2019, the Rodin Group started looking for a partner to join forces in order to build next generation networks in the rural areas of Groningen. After an intensive search, we found a trusted partner in CEBF. The strength and experience of CEBF combined with Rodin's local knowledge and ambitions makes this a fantastic new offer for all participants. This combination gives the residents of Groningen a large, strong local party that is building a network ready for the future. Inhabitants, entrepreneurs, schools, farmers, authorities but also anyone who (increasingly) works from home gets more job satisfaction and the whole region can benefit because of the employment opportunities arising out of a deal like this. Our local contractors will be able to build more and faster on our network”.
CEBF is an infrastructure fund focusing on investing in greenfield and expansion projects in the broadband infrastructure space across Europe with €470 million of committed capital and a target size of €500-600 million. The deployment of new generation fiber networks is allowing people and corporations to access significantly higher speeds for uploading and downloading data, coping with the explosion of IP traffic. The project is another successfully signed project for the CEBF.
CEBF is managed by Cube Infrastructure Managers (Cube IM) and anchored by the European Commission, the European Investment Bank (EIB), the German KfW Bankengruppe, the Italian Cassa Depositi e Prestiti (CDP) and France’s Caisse des Dépôts et consignations (CDC) alongside European private investors.
About Cube Infrastructure Managers:
Founded in 2007, Cube Infrastructure Managers is an independent management company, focusing on investments in the European infrastructure space addressing the essential infrastructure needs of local public authorities and populations, and fully consistent with its ESG commitments. Cube Infrastructure Managers has raised an aggregate €2.6 billion and manages three funds. Cube Infrastructure Fund and Cube Infrastructure Fund II are focusing on investments in regulated, brownfield infrastructure and target mainly three strategic markets, Public Transport, Energy Transition and Communication Infrastructure, with a “Buy & Grow” strategy. The Connecting Europe Broadband Fund is a fund dedicated to investment in broadband infrastructure projects.
About Rodin Group:
Rodin Group B.V. founded in 2015, specializes in constructing and exploiting hybrid broadband infrastructure in rural areas. From the office, situated in Groningen, Rodin’s 36 employees and the local contractors work with great enthusiasm on the realisation of a broadband infrastructure in the Province of Groningen. With the realisation of this infrastructure, Rodin Group B.V. gains a strong footprint in the North of the Netherlands.
Cube Infrastructure Managers
Jean-François Willame, Investment Director
+352 248 734 6855
Caroline Kragerud, Head of Investor Relations
+352 248 734 6874
Agnès Catineau, Xavier Mas
+33 (0) 1 53 96 83 83
Statement, communicatieadviesbureau Ron Overbeek
+31 (0)50 5891717
Projects should be referred to CEBF@cubeim.com or +352 248 734 68 00