3i Infrastructure plc has closed its previously announced €182 million acquisition of a 60% stake in DNS:NET, a German telecommunications provider.

The Jersey-based infrastructure investment company had bought the stake from capital market company Deutsche Beteiligungs AG (DBAG), DBAG ECF, and DNS:NET’s founder and CEO Alexander Lucke.

The deal was signed in April 2021.

Alexander Lucke reinvested alongside 3i Infrastructure to retain a stake of 40% in the German telecommunications provider.

Founded in 1998, DNS:NET owns and operates a fibre-to-the-cabinet network in the Berlin area along with three data centers in Germany.

In recent years, the German telecommunications company is said to have started the rollout of a fibre-to-the-home (FTTH) network, which is now planned to be expedited with the backing of 3i Infrastructure.

At the time of signing the deal, Richard Laing – Chair of 3i Infrastructure said: “DNS:NET is an asset-intensive business delivering an essential service in a sector with strong underlying demand trends. It is a high growth asset which will further diversify our portfolio, giving 3i Infrastructure sizeable exposure to the German infrastructure market for the first time.”

  3i Infrastructure, Berlin, DBAG, DNS:NET, Germany, Jersey, Richard Laing