TNG Stadtnetz GmbH acquires sdt.net AG in Baden-Württemberg

TNG Stadtnetz GmbH (“TNG”), based in Kiel, a leading German IT and telecommunications provider with an extensive own fibre network and majority owned by Intermediate Capital Group (“ICG Infra”), has acquired a 100% equity stake in Aalen based sdt.net AG (“sdt”), a well-established operator of independent fibre optic infrastructure.

With the acquisition of sdt, TNG is opening up additional avenues to drive fibre expansion in Germany. In addition to TNG’s activities in Northern Germany and Hesse, the acquisition of sdt represents a far-reaching regional expansion of TNG’s service offering to Southern Germany.

HHP provided full buy-side advisory services to TNG and ICG Infra, including but not limited to tactical advice, support in SPA negotiation, creation of marketing documentation, operating and financial model as well as coordination of other buy-side advisors and respective workstreams.

Besides HHP, TNG and ICG Infra were advised by Latham & Watkins (legal) and Deloitte (financial/tax).

TNG Stadtnetz GmbH
Established more than 25 years ago, TNG has been driving the expansion of fibre optics in Germany for since 2013. A combination of highly specialised sub-areas has developed under the TNG umbrella, facilitating the fibre optic network expansion, from marketing and planning to civil engineering and fibre optic installation to operation. The service offering includes telephone, VDSL and fibre optic connections as well as mobile telephony and TV. In addition, the IT solutions under the ennit brand also enable comprehensive provision for the business sector.

Intermediate Capital Group
Founded in 1989, ICG is a specialist asset manager listed on the London Stock Exchange (FTSE 100) since 1994 and manages US$71 billion of its own and third party assets. Over the past 33 years, ICG has made more than 350 investments in private companies through dedicated funds in different regions (Europe, Asia, US) and asset classes (equity, mezzanine, senior debt, real estate).
ICG established a dedicated team for European infrastructure investments (“ICG Infra”) in 2018.