CBHH advises Northern Fiber Holding on sale to Strategic Fiber Networks
July 2026
CBHH advises Northern Fiber Holding (“NFH”) in a structured sale process, resulting in sale of 100% of NFH’s share capital to Strategic Fiber Networks (“SFN”), a portfolio company of iCON Infrastructure.
Operating under the lünecom, sewikom, and terralink brands, NFH provides fibre connectivity solutions to rural and semi-urban communities across Lower Saxony, North Rhine-Westphalia, and Schleswig-Holstein, managing both owned and leased fibre networks while providing a full range of high-speed fibre internet services to its customers.
The transaction significantly expands SFN’s regional fibre footprint and creates a regional fibre champion whose network covers more than 300,000 households.
Completion is expected in the second half of 2026, subject to customary regulatory and other conditions.
CBHH acted as exclusive financial advisor to NFH.
About NFH
As one of northern Germany's largest fibre infrastructure providers, NFH develops and operates high-speed fibre networks across four federal states. NFH’s regionally established brands lünecom, sewikom and terralink networks ensure high-performance connectivity for rural and peri-urban regions. The regional providers stand for innovative gigabit-speed communication solutions and deeply rooted local expertise.
About SFN
SFN is an independent, vertically integrated fibre and cable telecommunications business headquartered in Schwäbisch Gmünd. SFN operates across Baden-Württemberg and Lower Saxony through its consumer brands "Das bessere Netz" (DBN), alongside Wisotel and Northern Access.
About iCON
iCON is an independent investment firm managing and/or advising funds with over $12 billion of capital. The iCON group focuses on making long-term equity investments in private, mid-market, infrastructure businesses located in Europe and North America.
iCON VII, iCON's latest flagship fund, closed fundraising in July 2025 with $3.7bn of capital committed. The iCON group is a long-term investor with an extensive track record of supporting market-leading businesses to enable growth, operational excellence and sustainability. iCON's affiliated funds invest across a range of infrastructure sectors including energy & environment, healthcare, transport, telecommunications, water, energy generation, distribution and storage.
In addition to SFN, funds managed and/or advised by iCON are invested in a range of businesses in Germany including Hannover Airport (international airport), Mercurius Health (specialist oncology platform), Meinhardt Group (waste management) and USG (oil storage).
About Cameron Barney Herbst Hilgenfeldt (‘CBHH’)
Cameron Barney Herbst Hilgenfeldt (CBHH) is an independent European investment bank providing financing and M&A advisory services to fast-growing companies in the infra-tech sector, including energy transition infrastructure, digital infrastructure, social infrastructure, natural capital, and technology.
For further information, please contact:
CBHH
Marc-Olaf Hilgenfeldt +49 69 717 1989 35
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