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- Transport
- Our News, Press
London, 16 October 2025 โ Arcus Infrastructure Partners (โArcusโ) is pleased to announce that Abyss AS (โAbyssโ or โthe Companyโ), Arcus European Infrastructure Fund 3 SCSp (โAEIF3โ)โs specialist service vessel provider supporting the salmon farming industry in Norway and Iceland, has entered into an agreement to acquire Frรธy Akvaservice AS (โFrรธy Akvaserviceโ). Frรธy Akvaservice is a provider of service vessels to the Norwegian aquaculture industry, and is being carved out of Frรธy Group AS.
Operating a fleet of 33 vessels, Frรธy Akvaservice delivers a range of services including towing, installation, maintenance, wellboat support, and dedicated net cleaning along the entire Norwegian coastline. The companyโs business model and operations closely mirror those of Abyss, with a significant proportion of its vessels on time charter contracts and a strong reputation for vessel quality and skilled crew. Frรธy Akvaserviceโs shoreside organisation supports technical maintenance, operations management, and has a strong health and safety culture, ensuring high standards across its operations.
On completion of the transaction, Abyss will own 100% of Frรธy Akvaservice and operate a combined fleet of 56 service vessels and four inspection vessels. The combined business is well positioned to serve a broad range of salmon farmers along the Norwegian coast, unlock significant synergies through operational integration and enhanced fleet utilisation. We believe the acquisition also derisks Abyssโ own organic growth plans and creates the opportunity to expand operations into adjacent geographies.
Together, Abyss and Frรธy Akvaservice are set for sustainable growth and long-term value creation in a sector supported by robust demand drivers.
Michael Allen, Partner and Head of Transport at Arcus, commented: โThis acquisition marks a transformative milestone for Abyss. By combining the complementary fleets, expertise, and operational strengths, we are unlocking powerful synergies that will drive efficiency, innovation, and sustainable growth across the North Atlantic region. We look forward to working with the Abyss and Frรธy Akvaserviceโs teams to build on their strong legacies and accelerate our shared vision for long-term value creation in the aquaculture sector.โ
Victor Jensen, CEO of Abyss, said: โThis is a pivotal moment for Abyss Group and a testament to the long-term vision we share with Arcus. The acquisition of Frรธy Akvaservice significantly enhances our capacity and flexibility, allowing us to deliver even greater value to our customers, employees, and the communities we serve. By combining our strengths, we are better positioned to meet growing industry demand with high-quality, reliable services across the North Atlantic region.โ
Completion of the acquisition is subject to approval from the Norwegian Competition Authority.
Abyss was advised by Wiersholm (Legal), A&M (Financial and Tax), DNV and Haugen AS (Technical), Cardo Partners (Commercial) and Aon (Insurance / IT).
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 โฌ9.6bn of assets (as at 30 June 2025). 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.
- Digital
- Our News
London, 21 May 2025 โ Arcus Infrastructure Partners (โArcusโ) is pleased to announce that FixMap sp. z o.o., (โFixMapโ or โthe Companyโ), Arcus European Infrastructure Fund 3 SCSp (AEIF3)โs Polish fibre-to-the-home (โFTTHโ) operator, has acquired Stimo.Net sp. z o.o. (โStimo.Netโ), a FTTH operator and Internet Service Provider (โISPโ) 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 AEIF3โs ownership.
Stimo.Net has a network coverage of c. 16k homes passed and c. 9k homes connected across Poland[1].
The location of Stimo.Netโs network in the Podkarpackie and Mazowieckie regions is adjacent to the networks of three existing FixMap subsidiaries. The acquisition of Stimo.Net strengthens FixMapโs 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 FixMapโs network size to c. 404k HPs and c. 132k HCs (including WiFi customers).
Christopher Ehrke, Partner and Head of Digital at Arcus, commented: โFixMap 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 FixMapโs coverage in the Podkarpackie and Mazowieckie regions. This is the second acquisition under AEIF3โs ownership and we continue to pursue an active M&A pipeline of other regional Polish network operators, continuing FixMapโs successful buy and build strategy.โ
Piotr Muszynski FixMap minority shareholder and CEO commented: โFixMapโs 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.โ
FixMap was advised by SSD Legal (Legal), Akademia ลwiatลowodowa (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 โฌ9.1bn 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 Muszyลski, 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
- Transport
- Our News
London, 12 March 2025 โ Arcus Infrastructure Partners (โArcusโ) is pleased to announce the acquisition of Abyss AS (โAbyssโ or the โCompanyโ), a leading specialist service vessel provider supporting the salmon farming industry in Norway and Iceland. The acquisition of Abyss represents the eighth investment by Arcus European Infrastructure Fund 3 SCSp (โAEIF3โ)
Established in 2000, Abyss has grown to become the second largest provider of service vessels in the salmon farming sector, with a fleet of 30 vessels, of which 24 are dedicated service vessels and six are inspection and diving vessels. The fleet is predominantly made up of 15-metre vessels which are largely contracted under CPI-linked framework agreements, with highly predictable demand. As the fleet expands with larger, more sophisticated vessels, there is a significant value-creation opportunity through transitioning the fleet to larger service vessels, increasing the proportion of time charters, and driving margin expansion in the business.
Abyss has strong ESG characteristics, operating a sustainable fleet. All its new build vessels are hybrid, which will be standard for any future vessels procured. The underlying salmon farming industry has excellent ESG characteristics, with the highest feed conversion ratio of any commercial protein source, 90% lower CO2 emissions per kg of edible protein than beef farming, and a very attractive nutrition profile. Abyssโ service vessels maintain the condition of the salmon farms and support the health of the fish and the wider environment.
Abyss operates in a market with high barriers to entry. There has not been a new entrant since 2010, and the sector is rapidly consolidating. This presents strong M&A opportunities, with Abyss having acquired two businesses in the last three years and currently progressing pipeline opportunities. This market consolidation approach fits well within Arcusโ active asset management strategy and offers a clear route for delivering further value.
Michael Allen, Partner and Head of Transport at Arcus, commented: โAfter researching the aquaculture service vessels sector over a number of years, it was clear that Abyss was a strong fit for AEIF3โs investment strategy. Abyss is a significant market player with an excellent track record, robust underlying growth trends and solid infrastructure characteristics. The Abyss management team, with Victor Jensen at the helm, is exceptionally strong and has already delivered on a significant growth strategy. We look forward to working with Victor and the management team to unlock the next phase of growth on this companyโs dynamic trajectory.โ
Victor Jensen, Founder and CEO of Abyss, commented: โI am delighted that Arcus recognises the strength of the Abyss business, and the trust they have shown in our strategy and growth prospects. Together we can continue to build on our excellent track record and develop into one of the world`s leading aquaculture service vessel companies. This is a landmark transaction for the company, enabling us to achieve our ambitious goals for the company in the years to comeโ.
The transaction is expected to complete later this month.
Arcus was advised by Wiersholm (Legal), Cardo (Commercial), A&M (Financial, Tax, Structuring), Arup (Technical and ESG), SEB (M&A) and Lockton (Insurance).
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 โฌ9.1bn 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 Abyss Group AS
Abyss Group AS is an aquaculture service company providing a broad range of services to some of the worldโs largest salmon farmers. Abyss has a fleet of 30 vessels, consisting of multi-purpose service vessels, net cleaners and inspection & preparedness vessels. The Company is headquartered in Kristiansund, Norway with five operational bases along the Norwegian coast and operations in Norway and Iceland.
For media enquiries
Harriet.saywell-lee@arcusip.com
+44 20 7832 3433
- Digital
- Our News
London, 05 March 2025 โ Arcus Infrastructure Partners (โArcusโ) is pleased to announce that FixMap sp. z o.o., (โFixMapโ or โthe Companyโ), Arcus European Infrastructure Fund 3 SCSp (AEIF3)โs Polish fibre-to-the-home (โFTTHโ) operator, has acquired Internet Union, a south-western polish FTTH operator and internet service provider (โISPโ), expanding the business into a new and attractive regional geography.
FixMap has been established through a highly active buy-and-build strategy, with Internet Union representing the twenty-first acquisition for the Company and the first acquisition under AEIF3โs ownership.
Founded over twenty years ago, Internet Union has a network coverage of c. 108k homes passed and c. 21k homes connected[1] across Wroclaw and surrounding areas of south-west Poland. FixMap currently has no network presence in this region, making it a very strategic acquisition and adding a fifth regional cluster to the portfolio. In addition, the acquisition provides new M&A opportunities through Internet Unionโs own M&A pipeline.
FixMap was founded in 2018 and operates through local subsidiaries, covering c. 279k homes passed with c. 100k homes connected[2] across Poland. 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 Internet Union will increase FixMapโs portfolio to c. 387k homes passed and c. 121k homes connected. The acquisition of Internet Union significantly advances the M&A plan.
Christopher Ehrke, Partner and Head of Digital at Arcus, commented: โFixMapโs success has been built on a strategy of consolidation, and this continues to be a key strategic focus for FixMap management and Arcus. Six months into AEIF3โs ownership, we are delighted to announce the acquisition of Internet Union, which is very well-established in the Wroclaw area, a new and attractive regional geography for FixMap. This is the first acquisition under AEIF3โs ownership and we are in discussions with other regional Polish network operators which we hope to conclude over the coming months.โ
Piotr Muszynski FixMap minority shareholder and CEO commented: Internet Union was one of the key acquisition targets in FixMapโs M&A pipeline. This transaction demonstrates FixMap and Arcus teamsโ strong commitment and effective collaboration. I would thank both the FixMap and Arcus teams for their exemplary engagement and professionalism on this transaction and I look forward to further successes in pursuing this growth trajectory.โ
FixMap was advised by WKB (Legal), Grant Thornton (Financial and Tax), 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 โฌ9.1bn 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 Muszyลski, 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] As at 31 December 2024
[2] As at 31 December 2024
For media enquiries
Harriet.saywell-lee@arcusip.com
+44 20 7832 3433
- Energy
- Our News
London, 13 February 2025 โ Arcus Infrastructure Partners (โArcusโ) is delighted to announce the completion of the sale of its smart metering businesses, Horizon Energy Infrastructure (โHorizonโ) and Smart Meter Assets (โSMAโ) to global investment firm KKR.
Since acquisition, Arcus has worked closely with the respective management teams to transform Horizon and SMA, significantly improving the scale and quality of both businesses through the implementation of a wide range of value creation initiatives, including winning new contracts with UK energy suppliers, raising debt financing, M&A, funding UK water meters and German smart meters and expanding into adjacent green infrastructure, such as heat pumps, EV chargers and solar PV systems. Under AEIF2โs ownership, Horizon and SMA won c. 3m new contracted meters with Octopus, OVO, Utilita, SO Energy and EDF, raised ยฃ940m of debt financing under an innovative structure, put in place long-term interest rate hedges, increased contract coverage of the meter base to 95% and significantly improved the ESG credentials of both businesses. At exit, the combined portfolio stands at c. 3.5m installed energy meters, with a c. 1.9m contracted pipeline of energy meters.
Stefano Brugnolo, Partner and Head of Energy at Arcus, commented: “Weโd like to extend our sincere gratitude to Tom Thorp, Jeff Studholme, Richard Rose, and the entire Horizon and SMA teams for their partnership and commitment over this journey. Together, we have significantly grown the meter asset base and contracted meter pipelines for Horizon and SMA, expanded into new business areas and established a highly efficient funding platform for green, distributed energy infrastructure. The combined business is now well positioned to deliver its next phase of growth and development.”
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 specialist co-investment vehicles and, through its subsidiaries, currently manages investments with an aggregate enterprise value of c. โฌ24bn (as at 30 September 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.
For media enquiries
- Energy
- Our News
London, 4 February 2025 โ Arcus Infrastructure Partners (โArcusโ) is pleased to announce the acquisition of a majority interest in Powering S.r.l (โPoweringโ or the โCompanyโ), a leading power leasing business in Italy. The acquisition of Powering represents the seventh investment by Arcus European Infrastructure Fund 3 SCSp (โAEIF3โ)
Established in 2011, Powering provides power solutions to critical grid and industrial operations and owns an extensive fleet of c.1,500 generators, operating through a network of over 55 depots across Italy. The Company uses a fully integrated business model which includes outright ownership of its generators, specialist in-house dispatch and refuelling capabilities, and proprietary IT systems. Poweringโs network across Italy, and its fully integrated model, mean the Company is the only business in this sector in Italy capable of contractually committing to a two-hour call-out time. This has allowed Powering to secure 90% of its revenues under multi-year framework agreements with blue-chip Italian utilities and network maintenance operators, for whom the Company provides power during emergencies and regular grid maintenance works.
The Company provides an essential service and significant societal benefit to communities and industry in Italy. As a result of the rapid deployment times of generators such as those offered by Powering, the average duration of long unplanned grid interruptions has been reduced from 110 minutes in 2015 to 65 minutes in 2022.
Powering also plays a vital role in Italyโs energy transition, specifically with the trend towards greater electrification. The availability of a substantial and wide-ranging generator fleet, such as Poweringโs, enables network operators to reinforce and upgrade grid infrastructure to support electrification as well as accommodating more decentralised renewable energy generation on the grid. Generator leasing also enables industry to drive the electrification of industrial processes as backup and emergency solutions are available to reduce production downtime risk.
Under the ownership of AEIF3, there is a significant opportunity for Arcus to help improve the carbon emissions footprint of the Company. This includes the upgrade to more efficient generators, the offering of HVO fuel to customers, and the piloting of hybrid and hydrogen generators.
Stefano Brugnolo, Partner and Head of Energy at Arcus, commented: โAfter several years of researching the European energy leasing market, Powering stood out as a strong fit for AEIF3โs investment strategy thanks to its fully integrated business model and robust infrastructure characteristics.
The companyโs role in delivering critical energy solutions to communities and industries resonates deeply with our commitment to investments that drive both economic growth and positive societal impact. We see clear opportunities to further enhance Poweringโs business potential and sustainability credentials through targeted asset management initiatives, a core pillar of our investment strategy.
We look forward to partnering with the Giancano family and Poweringโs management team as we work together to unlock the next phase of growth for this dynamic business.โ
Piero Giancano, Founder and CEO of Powering, added: โPartnering with Arcus marks a key milestone in Poweringโs journey. Building this business from the ground up has been an incredible experience, and I am excited to work alongside an experienced institutional partner who shares our vision for growth and has the infrastructure expertise to help us take the company to the next level.โ
Arcus was advised by Gianni & Origoni (Legal), Bain (Commercial), Houlihan Lokey (Debt Advisory) PwC (Financial, Tax & Structuring), Afry (Technical), and Aon (Insurance).
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 specialist co-investment vehicles and, through its subsidiaries, currently manages investments with an aggregate enterprise value of c. โฌ24bn (as at 30 September 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 Powering
Powering S.r.l. was established in 2011 and is the number one power leasing business in Italy providing power solutions primarily in the form of grid support to utilities (which include DSOs and grid maintenance companies), as well as, to a lesser degree, commercial and industrial clients (โC&Iโ). Powering has experienced consistent strong growth since its inception in 2011, becoming the market leader in its core end-market. Further information on Powering can be found on https://www.poweringsrl.it/
