London, 21 May 2025 – Arcus Infrastructure Partners (“Arcus”) is pleased to announce that FixMap sp. z o.o., (“FixMap” or “the Company”), Arcus European Infrastructure Fund 3 SCSp (AEIF3)’s Polish fibre-to-the-home (“FTTH”) operator, has acquired Stimo.Net sp. z o.o. (“Stimo.Net”), a FTTH operator and Internet Service Provider (“ISP”) based in the Podkarpackie and Mazowieckie provinces of Poland.
FixMap has been established through a highly active buy-and-build strategy, with Stimo.Net representing the twenty-second acquisition for the Company and the second acquisition under AEIF3’s ownership.
Stimo.Net has a network coverage of c. 16k homes passed and c. 9k homes connected across Poland[1].
The location of Stimo.Net’s network in the Podkarpackie and Mazowieckie regions is adjacent to the networks of three existing FixMap subsidiaries. The acquisition of Stimo.Net strengthens FixMap’s footprint in these regions, improving its competitive positioning whilst also unlocking synergies as Stimo.Net joins the FixMap group.
FixMap was founded in 2018 and operates through local subsidiaries, covering c. 396k homes passed with c. 123k homes connected across Poland2. FixMap subsidiaries are both ISPs and network operators and seven of these subsidiaries today also provide wholesale services to Orange Polska, the leading telecommunications provider in Poland.
The acquisition of Stimo.Net will increase FixMap’s network size to c. 404k HPs and c. 132k HCs (including WiFi customers).
Christopher Ehrke, Partner and Head of Digital at Arcus, commented: “FixMap remains focused on its strategy of consolidation in the fragmented Polish FTTH market. We are pleased to announce the acquisition of Stimo.Net, which will further strengthen FixMap’s coverage in the Podkarpackie and Mazowieckie regions. This is the second acquisition under AEIF3’s ownership and we continue to pursue an active M&A pipeline of other regional Polish network operators, continuing FixMap’s successful buy and build strategy.“
Piotr Muszynski FixMap minority shareholder and CEO commented: “FixMap’s strategic partnership with Arcus has enabled us to successfully complete our twenty-second acquisition in the Polish ISP market. The addition of Stimo.Net strengthens our local footprint and enhances operational synergies across the FixMap Group. Thank you to both the Arcus and FixMap teams for your dedication and collaboration throughout this process.”
FixMap was advised by SSD Legal (Legal), Akademia Światłowodowa (Technical), Acropolis Advisory (Financial), and Innside Tax (Tax).
About Arcus
Arcus Infrastructure Partners is an independent fund manager focused solely on long-term investments in European infrastructure. Arcus invests on behalf of institutional investors through discretionary funds and currently manages €9.1bn of assets (as at 31 December 2024). Arcus targets mid-market, value-add infrastructure investments, with a particular focus on businesses in the digital, transport, logistics & industrials, and energy sectors. Further information on Arcus Infrastructure Partners can be found on www.arcusip.com.
About FixMap
FixMap was founded in 2018 by Piotr Muszyński, a manager with experience in both the telecommunications industry and business consulting. FixMap operates a buy-and-build strategy through M&A activity, with the objective of consolidating the fragmented Polish FTTH market. FixMap currently operates through 20 local subsidiaries, covering c. 270k homes passed with c. 100k homes connected across Poland (as of August 2024).
[1] Including Wi-Fi customers, as of 30 November 2024.
[2] As of 31 March 2025
For media enquiries
Harriet.saywell-lee@arcusip.com
+44 20 7832 3433
