Funds managed by Searchlight Capital Partners have made a significant investment in EOLO SpA (EOLO) in partnership with the Company’s founder, President and CEO, Luca Spada.
Spada will remain the CEO and a significant shareholder of the Company, which he has led since 1999. Under his leadership, EOLO has a demonstrated track record of delivering high speed broadband connectivity to “digital divide” areas in Northern Italy.
“Our unique business model raised the interest of many investors over time and we are excited to partner with Searchlight, which has strong expertise and a deep relationship network in our industry and with whom we share a common vision for the development of the business,” says Spada. “EOLO is a unique company in our industry. We allow vast areas of the population and thousands of businesses to have access to the best connectivity available in Italy.”
“We are excited to work in partnership with Luca Spada and his team to deliver innovative broadband services helping to close the digital divide in Italy,” says Oliver Haarmann, co-founder of Searchlight.
EOLO currently serves approximately 300,000 customers across 13 regions in central and northern Italy, and has achieved revenue and EBITDA growth of more than 30 per cent year-over-year since 2014. Searchlight’s investment will support the company’s continued growth strategy.
