iCON Infrastructure Partners V1 (iCON V) has completed the acquisition of a controlling interest in three German fibre-related businesses, ropa, NGN Telecom, and Wisotel (together the SFN Group).

The fund, which manages €1.6 billion (US$1.85 billion) in assets, is advised by iCON Infrastructure (iCON).

The fibre-to-the-home (FTTH) sale was carried out by companies led by LABcom Investment.

Financially details of the transaction have not been disclosed.

The SFN Group is an independent vertically integrated fibre and cable telecoms business based in Germany.

The business primarily serves the retail market with a current focus in the regions of Baden Wuerttemberg and Lower Saxony. The group’s networks serve approximately 16,000 customers.

The investment in the SFN Group is iCON’s first investment in the German telecommunications sector and expands iCON’s telecommunications footprint following investments in TruVista, a telecommunications provider headquartered in South Carolina (USA) and BornFiber, a fibre network owner and operator based in Bornholm (Denmark).

iCON V’s investment into SFN Group forms the basis of a wider strategy to sustainably improve connectivity in underserved rural areas in Germany.

The SFN Group plans to grow fibre network coverage via follow-on acquisitions and further network development.