Analysys Mason advises Ardian on acquisition of Iceland’s Míla

08 December 2021 2 min. read

European private equity house Ardian has acquired Míla, the largest telecoms infrastructure service provider in Iceland. Consultants from Analysys Mason were part of the buy-side deal team.

Iceland-based telecoms operator Siminn has sold its infrastructure division, which houses all of its digital infrastructure (including both active and passive equipment), with the aim of raising funds for further investments in its telecom services for consumers and businesses.

As part of the deal, Siminn (the largest mobile carrier in Iceland in terms of market share) will remain Míla’s long-term anchor tenant to “ensure its clients continue to receive best-in-class services,” said Orri Hauksson, CEO of Síminn.

Analysys Mason advises Ardian on acquisition of Iceland's Míla

“We are delighted to have signed this transaction with Ardian as a buyer of Míla, but more importantly, as a long-term infrastructure partner. Síminn will continue to be a strategic customer, and Míla will now become fully independent with an opportunity to flourish on its own.”

Indeed, under the wings of Ardian (an investment house with assets of $114 billion) the independent Míla expects to take its infrastructure operations to the next level. Key part of the strategy will be to invest in the further roll out of fibre cable and in infrastructure that supports 5G technology – a technology which heralds an opportunity in the billions for Europe’s economy.

Recent research by Boston Consulting Group however found that massive investments in infrastructure are needed to unlock 5G’s benefits, which according to Ardian will force a growing number of telco’s to divest their infrastructure wings in order to balance their books.

Gonzague Boutry, a Managing Director at Ardian, said: “We believe that this acquisition, which comprises an entire integrated network, will pave the way for similar transactions within the telecommunications industry.”

During the deal, buyer Ardian was advised by a number of M&A consultants, including Analysys Mason, which served as its commercial and technical due diligence advisor.

“This is an exciting turning point for Míla. Ardian‘s financial support, experience and knowledge will enable us to develop our network even further and fulfill our mission to connect Iceland to the future,” said Jon Kristjansson, the CEO of Mila.