Germany-based power utility RWE has acquired a 15% stake in Vitronet Group, a local maker of glass fibre infrastructure products, from private equity firm Ventizz Capital Partners.
Ventizz retains 61% of Vitronet, which it acquired last year when the target was known as Conlinet Group.
Arndt Neuhaus, chief executive of RWE, said: "There is a backlog in the provision of broadband networks particularly in rural areas. At the same time we are strengthening our involvement in the development of smart grids, without which an energy shift in Germany will not be possible."
Advisory firm Livingstone Partners advised Vitronet, which has RWE as one of its customers.