euNetworks Group, a provider of bandwidth infrastructure, has bought Inland Fibre Telecom from co-owners Jim McMahon (46) and Tom McMahon (49) for an undisclosed sum.

The vendors were advised by law firm LK Shields. The transaction was led by Emmet Scully, assisted by Deirdre Kilroy, Lisa McEllin, Andrew Power, Angeline O'Connell and Rose Gaynor.

Inland Fibre Telecom Ltd had a net worth of €11,000 at end January 2014, according to filed accounts. Current assets amounted to €1.34m, made up of stocks of €1.1m, debtors of €175,000 and €71,000 cash. Total liabilities amounted to €1,355,000.

euNetworks operates a fibre network in Dublin and the deal will add 130km to the network. Inland Fibre Telecom built up a network of duct, sub-duct and fibre optic cable in Dublin, Kildare and Meath, with connections to some business parks and data centres.

euNetworks Group Limited was established in 2002 and is headquartered in London. It owns and operates 13 fibre metropolitan networks across Europe connected with a high capacity intercity backbone covering 45 cities in 10 countries. Turnover in 2014 was €103m.

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