Doughty Hanson exits Eurofiber in €875m deal

The transaction is expected to close in the next 4-5 weeks. It would see Doughty Hanson reap a 2.5x multiple on its 2012 investment in the company, equating to a 35% IRR.

The GP was invested via its fifth fund, which has now returned 117% of commitments to its investors following five exits. Nevertheless, Doughty Hanson recently ceased its current fundraising efforts, choosing instead to focus on its existing portfolio. The GP had been on the road for a couple of years for its sixth vehicle, aiming to raise in the region of €2.5bn.

AIP, meanwhile, closed its second fund on €2bn in June last year, after less than a year on the road.

Previous funding
Doughty Hanson bought Eurofiber from Reggeborgh, a Dutch investment company, in May 2012. Reggeborgh continued to hold a minority stake in the company following the deal, which it will now exit in full to AIP.

Following the initial transaction, Eurofiber completed two bolt-ons in the Netherlands, extending its network.

Company
Founded in 2000, Eurofiber is a fibre optic network with nationwide coverage. The Maarssen-based business's network spans 18,000km and connects 10,000 locations.

Clients include organisations requiring high network speed and bandwidth including telecommunications businesses, internet service providers and municipalities.

People
Pascal Keutgens led the deal for Doughty Hanson. Alex Goldblum is CEO of Eurofiber.

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• Topics
• Benelux
• Buyouts
• Exits
• Technology
• Doughty Hanson & Co
• Secondary buyout
• Netherlands
• Unq2015June