Former Zayo President & COO John Scarano has resurfaced at quite some distance from Colorado to join the management team at euNetworks. The independent European metro provider has combined its Finance and Operations teams into a single core function, which Scarano will lead as EVP of Finance, Operations & Corporate Development. He has also been appointed as Vice Chairman to the Board, while Uwe Nickl also joins the board as an Executive Director.
euNetworks has had a busy year, more than doubling its size and moving into the German market in a big way with the purchase of LambdaNet and TeraGate. With Scarano at the operational helm and CEO Brady Rafuse overseeing the overall picture, euNetworks is looking more and more like Zayo did a few years back. Certainly they seem ready for additional expansions in 2012, both organic and inorganic.
Asset pricing in Europe is much more favorable for metro fiber than it has been lately in the US. The difficult economic climate is partly to blame of course, but it does leave the field open for some further roll-up activity.