Chequers Capital and Corning Optical Communications GmbH & Co. KG, an affiliate of Corning Incorporated, have entered into a definitive agreement for the sale of Corning Services GmbH to Chequers Capital. Over the past 20 years, Corning Services has established itself as a long-term partner to telecom carriers, utility companies, and other owners or operators of critical IT and telecom networks. Services include network monitoring, maintenance, and operational support, as well as design, project management, commissioning, and system integration. Headquartered in Hannover, Germany, the Company employs 80 highly skilled full-time employees.
Uwe Gleitz, director at Chequers Capital, said: “We are very positive about the attractive market dynamics and impressed by the outstanding know-how of Corning Services’ employees. We look forward to actively supporting the strong management team around CEO Naif Kiy to further develop and grow the business organically and through a proactive acquisition strategy.”
The transaction is expected to close in Q2. Terms of the transaction were not disclosed.Telescope Advisory supported the transaction with dedicated Commercial Due Diligence Services focusing on growth opportunities in distinct customer groups, future need for glass-fibre installations, and the competitive environment in the DACH market.
About Telescope Advisory Partners
Telescope is a Munich-based data-driven advisory boutique for transaction, due diligence and innovation strategy focused on small- to mid-cap deals. We advise private equity as well corporate M&A clients in their acquisition process with a strong focus on data acquisition to substantially support target identification, acquisitions, and growth potential assessments.
- Simon Fischer, Managing Partner
- Julia Scharrer, Senior Manager Transaction Advisory
- Anja Rothenberger, Consultant Transaction Advisory