Shere Group - Realised

Shere Group is one of the largest independent owners of communications towers in the Netherlands and the UK, with approximately 1,000 wireless transmission sites located in these two countries. Shere’s tower and rooftop sites support the antennae and associated equipment used by mobile network operators as “macro cells” to provide wide-area radio communications coverage.

In the Netherlands the four Dutch mobile network operators (KPN, Vodafone, T-Mobile and Tele2) are Shere's key customers. Shere is the second largest owner of independent tower sites in the Netherlands. The Netherlands accounts for just under one half of Shere’s sites, but about two thirds of turnover. Shere has been present in the Netherlands since 2011. Shere’s portfolio of sites in the Netherlands is nationwide.

In the UK, Shere provides sites to the four UK mobile phone operators (Vodafone, Telefonica O2, Everything Everywhere and Hutchison 3G), and to other wireless operators such as Airwave, which runs the national police radio system. Shere’s geographical footprint covers large areas of the southeast and northwest of England, including key populations centres such as London, Manchester, and Liverpool. Shere is the third largest independent owner of wireless sites in the UK. Shere has been active in the UK since 2004.

Managing Shere required Arcus to have in-depth understanding of the European mobile sector, including technology evolution, competition, regulation, and commercial factors, given that more than 90% of Shere’s tower revenue arises solely from the mobile network operators. From 2004 Arcus personnel worked closely with the same management team throughout to grow Shere by more than ten times in terms of revenue and cashflow. Arcus people provided intensive asset management support over this period, across a spectrum of activities including M&A, individual site acquisitions, financing, tax and treasury.

On 11 October 2016, Arcus European Infrastructure Fund 1 sold its 97.8% stake in Shere (together with the minority shareholders, being the management team) to Cellnex Telecoms S.A. which is a publically listed Spanish tower owner active in five European countries

Jack Colbourne was the Asset Manager responsible for Shere.

www.sheregroup.com

 

Last Updated November 2016.