ICG is pleased to announce that its infrastructure team has closed its first deal since joining ICG; investing into Océinde Communications – the leading optical fibre provider in the French overseas department of Réunion Island.
The infrastructure team, established in May 2018 and headed by Guillaume d’Engremont, has invested in Océinde Communications alongside parent company Océinde Group to support the roll out of the telecom network’s services across the island. It is the first in a number of deals the team are working on, with a focus on Western Europe.
Océinde Communications is the leading fibre-to-the-home (FTTH) operator in the department of Réunion Island, ahead of the two leading French telecom incumbents. It has made significant investments since 2011 to deploy its proprietary network that covers 80% of Réunion Island. It is now one of the most connected departments of France, according to the French regulator (ARCEP, December 2018), with more than 300,000 homes covered by FTTH and demand increasing as data consumption grows.
Océinde Communications, through its Zeop brand, is recognised as offering the greatest speed and best services on the island. It also has plans to launch its own mobile network.
The Océinde Group is controlled by the Goulamaly family, who are considered pioneers in the sector after launching the first local GSM network in the mid 1990’s.
Commenting on the partnership, Benoît Durteste, Chief Investment Officer and Chief Executive Officer at ICG, said:
“This deal is a perfect illustration of our strategy in the Infrastructure space: a focus on mid-market opportunities, with a flexible approach to capital structuring and the ability to partner with best-in-class industrial groups. Océinde Communications already has a strong position in its market and, with the investment in its network, has the potential for significant growth.”
Nassir Goulamaly, CEO of Océinde Group, commented:
“We are particularly proud to announce this investment from ICG. With a strong, shared industrial vision, the arrival of this leading financial partner allows us to consider with still a lot of success the development of our infrastructure and to drive with ambition the digital transformation of Reunion Island into the first Smart Island in the world. The trust shown by ICG honours us as project leader, but it also honours our entire French overseas department.”