vitronet, Essen (Germany)

Fibre optic and energy infrastructure in Germany

Key facts at a glance

  • Merger with Deutsche Infrastruktur und Netzgesellschaft mbH (DING) in May 2021
  • Platform investment in telecommunications: turnover increased six-fold
  • Further opportunities for market consolidation

Revenues in €mn












Majority investment of DBAG ECF
DBAG's interest
Management Buyout

Majority investment of DBAG ECF
First invested
June 2017

As of 31 December 2022



vitronet is one of the leading service providers for infrastructure expansion in Germany. Among other things, the group benefits from the dynamically increasing demand for high-performance internet connections. Its services range from the project planning of new networks and their construction to the operation and service of fibre optic networks. In addition, vitronet offers services for infrastructure expansion in the energy and utility sectors in Germany. In the energy sector in particular, the group expects an additional growth spurt in the long term: vitronet wants to benefit from the energy transition, because in order to enable eMobility on a large scale, for example, the infrastructure must be transformed. The company's customers are primarily utilities and municipalities.

vitronet operates in a growing market in which, however, speed is crucial for success - we will also support the now newly formed group in continuing to watch inorganically.

Ragnar Geerdts
Managing Director


add-on acquisitions during holding period

Potential for development

The current group was created in May 2021 through a merger of vitronet and Deutsche Infrastruktur und Netzgesellschaft (DING); vitronet had been part of the portfolio since 2017, DING since 2019. In the fast-growing market for the expansion of fibre-optic and energy infrastructure, this has created a provider with broad regional coverage and a range of services that includes all the main value-added steps, from planning and construction of the facilities to operation and service. The two original companies had grown strongly in the past years - organically, but above all also inorganically through 15 corporate acquisitions. The group's turnover had thus increased almost sixfold.

Demand for the group's services is high: network expansion is one of the state's preferred infrastructure projects; substantial funds are available for this. Another market driver is the upgrading of mobile networks ("LTE" is followed by "5G"), which also requires more fibre optic cables. The high demand meets a shortage of corresponding capacities in the market. So far, about 70 per cent of the turnover is accounted for by the fibre optic infrastructure business. Business in the energy and utilities market, which has so far accounted for about 30 per cent of turnover, is expected to grow at an above-average rate. The group also intends to grow inorganically through further company acquisitions.


Ragnar Geerdts
Ragnar Geerdts
Ragnar Geerdts
+49 69 95787-172

Ragnar Geerdts

Managing Director

Ragnar Geerdts joined Deutsche Beteiligungs AG in 2012 and became a Managing Director in 2017.

Ragnar Geerdts has over eleven years of experience in private equity. He has extensive knowledge of the automotive supplier and telecommunications industries and in mechanical and plant engineering. He was involved in numerous investments and disinvestments and led the investment process in in-tech, vitronet, netzkontor, von Poll Immobilien, BTV Multimedia, Solvares, DING and DGA. In these companies he sits on the advisory councils. Before joining Deutsche Beteiligungs AG Ragnar Geerdts worked in the area of M&A at Bayer AG and at Deutsche Post AG.

He holds a degree in Business Administration from Freie Universität Berlin, and also studied at the Beijing Foreign Studies University.