Oakley Capital acquires majority stake in German open access platform vitroconnect

Photo: Peter Dubens, Co-Foun­der and Mana­ging Part­ner of Oakley Capital
15. May 2024

Gütersloh/London — Oakley Capi­tal (“Oakley”), a leading pan-Euro­­pean mid-market private equity inves­tor, has acqui­red a majo­rity stake in vitro­con­nect, a leading open access plat­form in Germany, through its Oakley Capi­tal Origin Fund II. This was announ­ced by the company. The invest­ment is being made toge­ther with foun­der and CEO Dirk Paster­nack and the manage­ment team, who will conti­nue to lead the company. The tran­sac­tion is expec­ted to be comple­ted by the end of the first half of 2024, subject to the neces­sary regu­la­tory approvals.

Güter­s­­loh-based vitro­con­nect brings broad­band connec­tion provi­ders toge­ther with resel­lers using a proprie­tary soft­ware plat­form and inter­face logic. The company’s custo­mers include most of the leading tele­com­mu­ni­ca­ti­ons provi­ders in Germany. In addi­tion, vitro­con­nect offers process auto­ma­tion, network opera­tion, trading and white label services via its “Carrier Aggre­ga­tion Plat­form” (CAP).

The CAP-gene­ra­­ted open access process services from vitro­con­nect help custo­mers to use broad­band networks more effi­ci­ently and reduce the tran­sac­tion costs of all parties invol­ved. Thanks to this unique offe­ring, the company has conti­nuously expan­ded its custo­mer base of network opera­tors and resel­lers. In addi­tion, mini­mal custo­mer fluc­tua­tion, strong custo­mer loyalty and a high propor­tion of recur­ring sales have contri­bu­ted to consis­tent and profi­ta­ble double-digit growth over the past three years.

As a pioneer of whole­sale acti­vi­ties in the highly frag­men­ted and tech­no­lo­gi­cally hete­ro­ge­neous German broad­band market, vitro­con­nect has an excep­tio­nally good market posi­tion to bene­fit from the strong growth in “Fiber to the Home” (FTTH) tech­no­logy and to help reduce the gap between Germany and other Euro­pean count­ries in the fiber optic market.

Curr­ently, the propor­tion of German house­holds with a connec­tion to the fiber-optic broad­band network lags far behind the rest of Europe. This will lead to signi­fi­cant invest­ments and considera­ble growth poten­tial in the coming years, with a simul­ta­neous increase in the number of house­holds with fiber optic connec­tions from 3 million today to 29 million in 2029 and 39 million in 2035.

The invest­ment in vitro­con­nect fits seam­lessly into Oakley’s long track record of part­ne­ring with high-growth, profi­ta­ble, foun­­der-led compa­nies. Oakley’s most rele­vant tran­sac­tions in adja­cent sectors include soft­ware compa­nies such as WebPros, Hori­zons Opti­cal and Alerce.

The invest­ment in vitro­con­nect is the first invest­ment from Origin Fund II and follows the recently announ­ced acqui­si­tion of Hori­zons Opti­cal via its prede­ces­sor fund, Origin Fund I.

Peter Dubens, Co-Foun­­der and Mana­ging Part­ner of Oakley Capi­talsaid: “vitro­con­nect is excel­lently posi­tio­ned to bene­fit from the market uphe­aval in Germany trig­ge­red by the switch to fiber optic tech­no­logy. The company has an excep­tio­nally strong market posi­tion based on custo­mer focus, high tech­ni­cal compe­tence and an excel­lent manage­ment team. We look forward to working with Dirk Paster­nack and his team, combi­ning vitroconnect’s core compe­ten­cies with our own indus­try exper­tise and acce­le­ra­ting the company’s future growth together.”

Dirk Paster­nack, foun­der and CEO of vitro­con­nect, said: “We were convin­ced by Oakley’s exten­sive exper­tise in the soft­ware and tele­com­mu­ni­ca­ti­ons sector and their proven ability to support compa­nies in phases of market disrup­tion. In Oakley, we have found an ideal part­ner to jointly embark on the next phase of vitroconnect’s growth plan.”

Subscribe newsletter

Here you can read about the latest transactions, IPOs, private equity deals and venture capital investments, who has raised a new fund, how Buy & Build activities are going.

Get in touch

Contact us!
fyb [at]