Kartesia, the European specialist provider of capital solutions for small and mid-sized companies, has provided a senior financing package of up to €58 million, including a €10 million uncommitted incremental facility, to Spanish telecoms operator Excom.
Established in 2001, Excom is a telecom operator in Spain, focused on smaller cities and rural areas, commercialising broadband and mobile services and making high speed internet available to regions with previously limited access to such services through the deployment of fibre to the home (FTTH) infrastructure.
Since 2015, the Company has grown significantly through organic and inorganic growth, having completed 11 acquisitions between 2015 and 2021. In 2020, Spanish private equity firm Formentor Capital acquired a majority stake in Excom and provided additional growth capital, with the founder and CEO Luis Abenza Sanchez maintaining a significant stake in the business.
The senior financing solution provided by Kartesia will be primarily used to continue deployment of the FTTH network and support further inorganic growth plans.
