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Deloitte supported TNG Stadtnetze GmbH with financial and tax due diligence and structuring in their acquisition of SDT NET

About the transaction

Deloitte supported TNG Stadtnetze GmbH, a leading and award-winning telecommunications company based in Kiel, Germany, with financial and tax due diligence and structuring in their acquisition of SDT NET, based in Aalen, Baden-Württemberg. SDT NET has successfully operated VDSL and fibre optic networks in the region for more than 20 years. With the acquisition TNG expands its activities from northern Germany and Hesse, to providing its cost-effective and customer-oriented services into southern Germany.

The Deloitte team was led by David Krüger, German Infrastructure M&A Leader, supported by Chris Fisher, Transaction Services Director and Alex Rösler. Nevin Borucu, M&A Tax Partner, Lena Seiss and Sandra Lehle provided tax and structuring services. Deloitte’s strong fibre expertise, collaborative approach and focused execution strongly supported this successful transaction.

About the clients  

TNG, created in 1997, has grown to a strong regional FTTH platform in the North of Germany with more than 90,000 contracted private and business customers. TNG has established a strong position in the Northern German telecommunication market as the leading, independent city carrier in Kiel. In 2013, the Company entered the rural FTTH market and has expanded its network footprint on both own and leased networks significantly since then. TNG has developed a strong FTTH track record on the back of a highly vertically integrated business model, including own fibre planning and construction activities, and provides customers with fast and reliable fibre connectivity solutions and telecommunication services.

ICG is a global alternative asset manager with over 30 years’ history, providing flexible capital solutions to help companies develop and grow. They currently manage $68.5bn of assets operating across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit.

In 2018, ICG launched a new European Infrastructure Investment team dedicated to investing in core and core-plus infrastructure. ICG Infra is following a green generalist strategy, with an integrated ESG approach and has already closed 8 transactions including 2 in the digital space (Océinde Communications, leading player in fibre in Reunion Island and TNG, FTTH operator in Germany), 2 in the energy transition (OSB, n°3 player in the French sub-metering market and Zeplug, EVCS for collective parking lots) and 4 in the renewables space (Akuo and CVE in France, BSR in UK and Dos Grados in Iberia)

About Deloitte – Financial Advisory

As leading independent M&A advisors, we provide M&A deal execution and financial advisory services to private equity firms and large and mid-market corporations globally. We offer financial advice and insight at every stage of a transaction – from consideration of the strategic options to transaction execution, be it an IPO, acquisition or divestment, restructuring or fast track disposal. We pride ourselves in our independent advice to our clients.

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