In February 2022, the sale of the majority stake of CanalCom Kft. to FCSM Mélyépítő és Karbantartó Kft., a subsidiary of the Budapest Sewage Works, the sewage system provider of Budapest was successfully closed.
As a pioneer of optical fiber network development in the Hungarian telecommunications industry, CanalCom Kft, together with its partners, has been engaged in the design, construction, sale, rent, operation and maintenance of optical fiber networks deployed in sewers for more than 20 years in Hungary. The CanalCom team is the sole expert team in Hungary that applies international technology and knowledge in this niche market.
Prior to the transaction, the company was owned by the founding Hungarian private individuals, whose majority stake was sold to a subsidiary of the Company’s strategic partner, Budapest Sewage Works, which is the sewage system provider of Budapest.
Concorde MB Partners was the exclusive transaction advisor of the sellers.