Ardian has signed an agreement to acquire a 50% co-control equity interest in MXT Holdings (MXT), a telecommunications infrastructure company based in Mexico. Ardian's investment will be used by MXT Holdings to support a recently completed asset swap for ~200 towers and ~1,800 km of metro fiber from Telefónica, as well as strategic acquisitions which will materially increase MXT’s portfolio. The transactions will be funded using primary equity raised from Ardian and existing shareholder Mexico Infrastructure Partners (MIP), a leading asset manager in the infrastructure and energy sectors across Latin America. Going forward, Ardian will be 50/50 partners in MXT alongside MIP.
Closing of Ardian's investment is subject to customary closing conditions, including obtaining required regulatory approvals.
Headquartered in Mexico City, MXT develops, acquires, owns and operates neutral-host communication infrastructure assets across Mexico, offering wireless and fiber services. As part of the transaction, Antoine Delaprée, Founder and CEO of MXT, will continue to head the company. Since 2015, and under Mr. Delaprée’s leadership, MXT and the management team have established a strong track record and key relationships with major telecom players.
With Ardian’s investment, MXT is positioned for compelling growth opportunities, including advanced greenfield fiber projects in areas of Mexico that currently lack long-haul connectivity and consolidation in the Mexican tower sector. With a population of 130 million and the second largest economy in Latin America, the Mexican market offers enormous opportunity for telecommunications growth. Furthermore, Mexico is the second largest trading partner to the US with increased nearshoring trends, which will benefit MXT.
“MXT is Ardian's first direct investment in Mexico, continuing our opportunistic approach in Latin America and complementing our overall Americas Strategy. Its growing economy and dynamic telecommunications market gives us confidence in our ability to deliver strong risk-adjusted returns to our investors.” Stefano Mion, Co-Head of Infrastructure Americas, Ardian
“The Mexican telecommunications sector offers notable consolidation opportunities. Coupled with a growing middle class, increasing mobile penetration, and a standout management team, MXT is poised for meaningful expansion opportunities. We are also grateful to partner with Mexico Infrastructure Partners, a prestigious asset manager with deep local business expertise and a thorough understanding of this fast-growing market. We are excited about the next chapter of growth for MXT.” Michael Obhof, Senior Managing Director Infrastructure, Ardian
“We are glad to partner with Ardian Infrastructure, a global asset manager, widely recognized for its excellent track record. Ardian’s understanding of the infrastructure sector and in particular the telecom industry, will contribute to a more ambitious business plan for MXT and bring the company to the next level of growth.” Mario Gabriel Budebo, Partner and CEO, MIP
“MXT is thrilled with Ardian’s equity investment to pursue the continued growth of our digital infrastructure platform, and to drive the expansion of our footprint across Mexico at this unique time. We are grateful to have Mexico Infrastructure Partners’ support since 2018, and we are delighted to partner with Ardian, to leverage its impressive track record and global expertise in telecom infrastructure to accelerate the next stage of MXT’s expansion.” Antoine Delaprée, Founder and CEO, MXT Holdings
The transaction is expected to close in 2H 2023. It is the second transaction from the Ardian Americas Infrastructure Fund (AAIF) V. No additional financial details were disclosed.