REG - Oakley Capital Inv. - Oakley Capital invests in vitroconnect

Oakley Capital InvestmentsAnnouncement

14/05/2024 07:00

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RNS Number : 2558O  Oakley Capital Investments Limited  14 May 2024

14 May 2024

Oakley Capital Investments Limited

 

Oakley Capital Investments Limited(1) ("OCI") is pleased to announce that
Oakley Capital Origin II(2) ("Origin II") has agreed to acquire vitroconnect,
a leading broadband open access platform business in Germany. This will be the
first platform investment made by Origin II.

OCI's indirect contribution to Origin II is anticipated to be up to £19
million, which relates to OCI's share of Oakley's investment in vitroconnect.

Further details on the transaction can be found in the below announcement from
Oakley Capital(3.)

( )

Oakley Capital invests in German broadband open access platform vitroconnect

Oakley Capital, the leading pan-European, mid-market private equity investor,
is pleased to announce that Oakley Capital Origin II has agreed its first
investment, acquiring a majority stake in vitroconnect, one of the leading
broadband open access platforms in Germany. Oakley is investing alongside
founder and CEO Dirk Pasternack and his management team who will continue to
run the business. The transaction is subject to regulatory approval and is
expected to complete around the end of H1 2024.

Based in Gütersloh, Germany, vitroconnect connects broadband providers with
resellers through a proprietary, single interface software platform. The
company works with most of Germany's leading telco players, offering process
automation, network operations, brokerage and white-label services through its
Carrier Aggregation Platform ('CAP').

vitroconnect's CAP-enabled intermediation services help customers utilise
broadband networks more efficiently and reduce transaction costs significantly
for all parties involved. This unique offering has allowed the company to
steadily expand its customer base of network operators and resellers, with
minimal customer churn, strong net retention and a high share of recurring
revenues contributing to consistent and profitable double-digit growth over
the last three years.

As a key enabler of wholesale activities in the highly fragmented and
technologically heterogeneous German broadband marketplace, vitroconnect is
poised to benefit from the significant proliferation of fibre to the home
('FTTH') technology as Germany catches up with European peers.

Germany currently has one of the lowest rates of homes connected to fibre
broadband. This is attracting significant investment in fibre technology which
will underpin future market growth with the number of connected homes expected
to grow from three million today to 29 million by 2029 and 39 million by 2035.

Oakley's investment in vitroconnect further adds to a long track record of
partnering with high growth and profitable founder-led businesses. Relevant
Oakley deals in adjacent sectors span across software businesses including
WebPros, Horizons Optical and Alerce.

Oakley Capital co-founder and Managing Partner Peter Dubens said:
"vitroconnect is set to benefit from the transformational change underway in
Germany's broadband market as the country pivots to fibre technology. The
company has established a market leading position thanks to its customer
focus, strong technical capabilities and excellent management. Oakley looks
forward to working with Dirk and his team, combining vitroconnect's core
strengths with our own sector capabilities to help further accelerate its
growth."

vitroconnect founder and CEO Dirk Pasternack said: "We were attracted to
Oakley's strong track record in the software and telco space, in particular
its proven ability to guide companies through inflection points. We look
forward to partnering with Oakley as we embark on the next stage of
vitroconnect's growth plan."

- ends -

 

For further information please contact:

 

Oakley Capital Limited

+44 20 7766 6900

Steven Tredget

 

Greenbrook Communications Limited

+44 20 7952 2000

Rob White / Michael Russell

 

Deutsche Numis (Financial Adviser & Broker)

+44 20 7260 1000

Nathan Brown / Matt Goss

 

Notes:

LEI Number: 213800KW6MZUK12CQ815

(1 )About Oakley Capital Investments Limited ("OCI")

OCI is a Specialist Fund Segment ("SFS") traded investment vehicle that aims
to provide shareholders with consistent long-term capital growth in excess of
the FTSE All-Share Index by providing liquid access to private equity returns
through investment in the Oakley Funds.

A video introduction to OCI is available
at https://oakleycapitalinvestments.com/videos/
(https://oakleycapitalinvestments.com/videos/)

The contents of the OCI website are not incorporated into, and do not form
part of, this announcement.

(2) The Oakley Funds

Oakley Capital Private Equity II, Oakley Capital Private Equity III, Oakley
Capital IV, Oakley Capital V, Oakley Capital Origin and Oakley Capital Origin
II are unlisted lower-mid to mid-market private equity funds that aim to
provide investors with significant long-term capital appreciation. The
investment strategy of the Funds is to focus on buy-out opportunities in
industries with the potential for growth, consolidation and performance
improvement. The Oakley family of funds also includes Oakley PROfounders Fund
III and Oakley Touring Venture Fund, which are venture capital funds focused
on investments in entrepreneur-led, disruptive, technology led companies.

(3) Oakley Capital, the Investment Adviser

Founded in 2002, Oakley Capital Limited has demonstrated the repeated ability
to source attractive growth assets at attractive prices. To do this it relies
on its sector and regional expertise, its ability to tackle transaction
complexity and its deal generating entrepreneur network.

Important information

Specialist Fund Segment securities are not admitted to the Official List of
the Financial Conduct Authority. Therefore, the Company has not been required
to satisfy the eligibility criteria for admission to listing on the Official
List and is not required to comply with the Financial Conduct Authority's
Listing Rules.

The Specialist Fund Segment is intended for institutional, professional,
professionally advised and knowledgeable investors who understand, or who have
been advised of, the potential risk from investing in companies admitted to
the Specialist Fund Segment.

This announcement may include "forward-looking statements". These
forward-looking statements are statements regarding the Company's objectives,
intentions, beliefs or current expectations with respect to, amongst other
things, the Company's financial position, business strategy, results of
operations, liquidity, prospects and growth. Forward-looking statements are
subject to risks and uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future.  Accordingly the
Company's actual future financial results, operational performance and
achievements may differ materially from those expressed in, or implied by, the
statements. Given these uncertainties, prospective investors are cautioned not
to place any undue reliance on such forward-looking statements, which speak
only as at the date of this announcement. The Company expressly disclaims any
obligation or undertaking to update or revise any forward-looking statements
contained herein to reflect actual results or any change in the Company's
expectations with regard to them or any change in events, conditions or
circumstances on which any such statements are based unless required to do so
by the Financial Services and Markets Act 2000, the Listing Rules or
Prospectus Regulation Rules of the Financial Conduct Authority or other
applicable laws, regulations or rules.

 

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