H.I.G. Capital Agrees to Sell Xtera

H.I.G. Capital, a global investment firm managing $72 billion, has announced a binding agreement to sell Xtera Limited. The buyer is a joint venture led by Prysmian S.p.A. and Fincantieri S.p.A. The completion of the sale depends on regulatory approvals and is expected in the first quarter of 2026.

London-based Xtera specializes in subsea telecom networks and has seen significant growth driven by global demand for bandwidth and data center traffic. Under H.I.G.'s ownership since 2017, Xtera completed projects like the NO-UK cable system and is developing the TAM-1 system, linking Florida to Central America.

Keith Henderson, Xtera's CEO, praised H.I.G.'s partnership. John Harper from H.I.G. acknowledged Xtera's growth as a leading subsea telecom provider and anticipates further success under new ownership.