US private investment firm Grain Management has acquired Sao Paulo-based Conexao Group, as it seeks to explore takeover opportunities in Latin America. The US company notes: ‘As the centre of many telecommunication expansion opportunities in Latin America, Brazil is prime for investment in what is currently a highly fragmented market.’
Conexao – which was previously known as Triple Play Brasil Participacoes – presides over a fibre-to-the-home (FTTH)/HFC network that spans 13,500km and passes around 1.4 million homes. The telco serves 450,000 residential customers and 20,000 B2B clients via its CABO, Multiplay, Conexao, Outcenter and StarWeb brands. Conexao has a presence in four states in the north-east (Rio Grande do Norte, Paraiba, Ceara and Bahia) and two in the south-east (Sao Paulo and Minas Gerais).
Conexao CEO Gilbert Minionis commented: ‘In terms of values, industry focus, track record, and cultural fit, Grain meets all of our needs for an impactful partner. The expertise at Grain has the potential to create a significant boost to our business as we continue to grow.’