IMCap Partners invests in ETN

Following the investment, ETN intends to expand its broadband infrastructure at a faster pace than it it had initially planned, according to a statement. The company will also invest in its radio network and tower infrastructure in the Weser-Ems region in the next five years.

IMCap partner Jens Weiss told Unquote that the deal came about via IMCap's networking around a year ago, through which the GP learned that ETN was seeking an external investment partner. The GP subsequently began discussions with ETN, which involved understanding its technology, strategy and growth plans.

The transaction is not leveraged and the company's previous shareholders are all remaining on board, Weiss added.

IMCap makes small-cap technology sector investments on a deal-by-deal basis, backed by several family offices. The firm focuses on companies with growth potential and neutral or positive operating profit, generating revenues of €3-15m.

Company
ETN provides business communication, infrastructure and broadband internet connection services for medium-sized businesses and private individuals, using existing fixed wireless radio technology and its own tower and network infrastructure. The company is based in Meppen, with additional operations in Düsseldorf.

People
IMCap Partners – Jens Weiss (partner).
ETN – Sebastian Hoogland (co-managing director).

Advisers
Equity – PwC (legal); HSMV (financial due diligence, tax).

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• Topics
• Expansion
• DACH
• Technology
• Germany