The founders will remain as minority shareholders and continue in their current management positions further driving the Company’s future FTTH build-out with the support of ICG Infra. TNG is targeting to realize a significant FTTH build-out programme in rural, semi-rural and urban areas aiming at connecting more than 200,000 private and business customers with fibre.
Dr. Sven Willert, Founder and CEO of TNG, says:
We are excited to welcome ICG Infra as our new partner to accelerate TNG’s development in the German fibre market. With the support of ICG Infra and their expertise, we will be able to scale up our Company in order to satisfy the growing need for future-proof and reliable gigabit internet connections in Germany, which is among the countries in Europe with the lowest penetration of FTTH connectivity.
Guillaume d’Engremont, Head of European Infrastructure at ICG, comments:
The investment in TNG marks ICG Infra’s first investment in Germany and follows our sustainable investment approach to acquire and manage high quality European infrastructure assets. With this new deal, ICG Infra has already committed €400m in equity and quasi-equity across four transactions. TNG is a highly scalable FTTH platform, with founders having already demonstrated a unique track-record, and we are delighted to be a part of its future development to accelerate the availability of fibre connectivity in underserved parts of Germany.
Frank Heiss, MD at ICG Infra in Germany says:
TNG benefits from outstanding technological capabilities and we have strong confidence in the management team who have a long history of rolling out fibre in Germany. We are eager to support its ambitious growth plan and help improve connectivity in rural and urban areas.
TNG and its management team around Dr. Sven Willert (CEO), Dr.-Ing. Volkmar Hausberg (CFO), Sven Schade (CTO) and Carsten Tolkmit (CIO) will benefit from having ICG Infra as an experienced partner with deep infrastructure knowledge. With the support of ICG Infra, TNG will finance its mid-term business plan and accelerate its network capital expenditures. with plans to deploy c. 200,000 homes connected with fibre representing total investments of € 500 million and thereby contributing significantly to the realization of the German government’s target of nation-wide gigabit internet infrastructure by 2025.