Schalast advises LABcom Group on acquisition of broadband network operator and associated financing

LABcom Group has with Schalast’s support acquired all shares in the Swabian telecommunications provider and network operator WiSoTEL GmbH - Gesellschaft für Telekommunikationslösungen (“WiSoTEL”). WiSoTEL, founded in 2007, started operations in 2009 with the first fibre optic network. With its own network expansion in the areas of FTTH/B (fibre optic) and FTTC (DSL), its reach currently covers approximately 12,000 buildings and households in 20 networks in the Backnang, Aspach, Leutenbach, Winnenden and Waiblingen areas. WiSoTEL provides its own customers with triple play products (Internet/telephone/TV) in high quality with high-speed Internet bandwidths of up to 100 Mbit/s for VDSL networks and up to 300 Mbit/s for fibre optic networks in the residential customers segment and up to 1 Gbit/s (1,000 Mbit/s) in the business customers segment.

To further expand WiSoTEL’s network, LABCom Group also acquired a passive broadband network infrastructure from Diligenter GmbH, this considerably expanding its network assets. The acquisition of WiSoTEL and the broadband network infrastructure is part of a buy and build strategy of LABCom Group with the objective of providing customers with fibre optic connections (FTTB/FTTH), above all in rural areas. The transaction was financed with a Schuldschein loan (borrower’s note loan), which LABCom Group issued with the assistance of the private bank Berenberg as investment advisor to Berenberg Digital Infrastructure Debt Fund I. Schalast also acted on the part of LABCom Group in connection with the Schuldschein loan.

Advisors to LABCom
Schalast – Professor Christoph Schalast (overall lead), Gregor Wedell, LL.M. (team lead; Corporate/M&A), Kristof Schnitzler, Sven Bösing (both Corporate/M&A), Ramon Glassl (Telecommunications), Dr Roland Arlt (Banking).