Olin Group signs the acquisition of the Murcian operator Fibranet

With the purchase of the Murcian firm, it adds 150,000 covered households and aims to reach 1.8 million homes.

Asterion Industrial, the private equity fund co-founded by Spanish executive Jesús Olmos, has completed the acquisition of the Murcian telecommunications operator Fibranet, which was previously controlled by local businessman Agustín Ramos, former president of Real Murcia until June 2023.

With the acquisition of Fibranet and its subsidiaries, Asterion strengthens its presence in the region and adds to its portfolio a network covering approximately 150,000 households, primarily through FTTH fiber optics (although some are covered by a Wimax wireless network) and around 40,000 fixed broadband customers.
Although the transaction amount has not been disclosed, industry analysts estimate that, based on the company’s size and recent similar transactions, the sale of Fibranet could be valued between €30 million and €35 million.

This acquisition expands Olin Group, the telecommunications operator holding company created by Asterion, which has been making acquisitions in recent years. In fact, with Fibranet, Olin Group has now integrated 16 telecom operator acquisitions into its holding, aiming to close 2024 with a network covering around 1.8 million homes and a broadband customer base approaching—but still below—300,000 users.

Outlook for 2025

Olin Group’s estimates for the end of 2025 project a customer base of between 270,000 and 300,000 for mobile telephony, as well as reaching 300,000 fixed broadband customers, with revenue exceeding €120 million.
The most significant acquisition in the creation of Olin Group took place in June 2022, when Asterion acquired Olivenet, a group founded two decades ago by Russian and Ukrainian investors on the Costa del Sol.

That acquisition, valued at approximately €100 million, provided Asterion with a network of around 900,000 fiber optic connections deployed across 35 Andalusian municipalities. Another key acquisition by Asterion was Cableworld, in which it acquired a minority stake in June 2020. Cableworld focuses on providing fiber optic services in medium and small-sized towns, primarily in Alicante and Murcia, serving thirteen locations such as Villena, Elche, San Vicente, Mutxamel, San Juan, Murcia, and Yecla. Cableworld contributed a network of approximately 300,000 fiber optic connections to Asterion.

Residential Market

As a result, Olin Group has become the second-largest local and regional operator group, behind Avatel. However, unlike Avatel, Olin Group serves residential customers while also owning its network, whereas Avatel has sold most of the acquired companies’ networks to Elanta.
Avatel was recently acquired by its president, Víctor Rodríguez, alongside the Inveready fund and several family offices. Avatel closed the second quarter of 2024 with 760,000 broadband customers and approximately 670,000 mobile telephony customers. In 2023, the company achieved a revenue of €277 million with an EBITDA of €110 million.Source: Expansión | Author: Ignacio del Castillo