OPCORE acquired by INFRAVIA CAPITAL
Context
InfraVia acquired a 50% stake in OpCore from the iliad Group to create a premier independent European data center platform. This strategic partnership combines iliad's technical operational excellence and historical asset base with InfraVia's financial firepower and infrastructure management expertise. The deal aims to capture the surging demand for AI deployments, with a focus on implementing innovative "Direct Liquid Cooling" solutions at scale.
OPCORE, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the TMT (Tech, Media, Telecom) sector (14.5x).
-> Deep-dive in TMT (Tech, Media, Telecom) market trends
Target
Opcore is a European high-growth data center platform specializing in colocation services for cloud providers, telecommunications operators, and large enterprises. The company operates a network of Tier III and Tier IV data centers across strategic European hubs, including Paris, Frankfurt, and Madrid. Opcore focuses on providing "sovereign" and highly secure hosting environments with a strong commitment to energy efficiency.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (EUR)
Similar deals in Telecom
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 10/2025 | VODAFONE GROUP | TELEKOM ROMÂNIA MOBILE | ROMANIA | Operators |
| 03/2025 | LATOUR CAPITAL | LYNXEO | FRANCE | Infrastructures |
| 10/2024 | ORANGE / CINVEN / KKR | MASORANGE | SPAIN | Operators |
| 06/2024 | ORANGE | TELEKOM ROMANIA COMMUNICATIONS | ROMANIA | Operators |
| 10/2023 | ZEGONA COMMUNICATIONS | VODAFONE SPAIN | SPAIN | Operators |
| 10/2023 | KOESIO | ALCATRAZ IT | FRANCE | Operators |
| 04/2023 | 4IG | ONE (EX VODAFONE HUNGARY) | HUNGARY | Operators |
| 06/2022 | ARDIAN | AIRE NETWORKS | SPAIN | Operators |
| 03/2022 | APAX PARTNERS / WARBURG PINCUS | ODIDO | NETHERLANDS | Operators |
| 03/2022 | CAPZA | WIFIRST | FRANCE | Operators |
REFERENCES
Valuation range: EV 500M - 1.5b EUR
EBITDA range: 25M - 50M EUR
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of OPCORE by INFRAVIA CAPITAL are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Acquirer: infravia capital