euNetworks Announces Major Leadership Transition Following Successful Recapitalization
euNetworks Group Limited (“euNetworks”), a leading European provider of critical bandwidth infrastructure, has announced a major leadership transition following the company’s successful recapitalization in August and debt refinancing in June. Brady Rafuse, who has served as Chairman and previously as CEO of euNetworks, will step down, passing the leadership baton to Kevin Dean. Dean, currently interim CEO, will assume the role of Chairman once a new CEO is appointed, positioning euNetworks for its next phase of growth.
Brady Rafuse’s leadership has been instrumental in transforming euNetworks over the past 15 years, increasing annual revenues from €30 million in 2009 to over €240 million by 2024, and scaling the company’s equity value from a penny stock on the Singapore Exchange to a robust €2.1 billion. With extensive industry experience, including roles with BT, Concert, and Level 3’s European and content markets, Rafuse has guided euNetworks through transformative growth, positioning it as a top-tier bandwidth infrastructure company. The company’s capital structure now includes long-term infrastructure debt financing of €1.26 billion, ensuring sustainable growth for years to come.
Reflecting on his tenure, Brady stated, “Leading euNetworks for the past 15 years has been a privilege. I am incredibly proud of the team we have built and all we’ve accomplished together. euNetworks today sets performance benchmarks in the industry, powered by a talented and committed team who continue to deliver industry-leading services to our customers. I am thrilled to see Kevin Dean appointed as Chairman, as I know he shares the vision and dedication to keep euNetworks on its successful trajectory.”
Kevin Dean brings a wealth of experience to his new role, having been with euNetworks since 2014. As Chief Marketing Officer, he was responsible for product strategy, infrastructure investments, commercial operations, and strategic marketing. Since stepping into the interim CEO role, Dean has worked closely with the company’s investors, including Stonepeak, IMCO, APG, Aware Super, and Mercer, overseeing the formation of a new Board following the recapitalization. In addition to his operational role at euNetworks, Dean has held various advisory positions in the data center and bandwidth infrastructure industries, establishing strong relationships and an in-depth understanding of the sector.
Dean expressed his appreciation for Rafuse’s leadership, saying, “Brady has been an exceptional mentor, a visionary leader, and a true pioneer in our industry. His transformative impact on euNetworks is evident in every aspect of our operations. It has been an honor to work alongside him for the past decade, learning from his dedication to advancing our industry and his commitment to fostering diversity and inclusion. As I take on the role of Chairman, I am eager to support our team in building on the strong foundation he has created as we continue to drive Europe’s critical infrastructure forward.”
Stonepeak Managing Director Cyrus Gentry commended Rafuse’s influence, noting his central role in reshaping the communications industry and advancing Internet 3.0. “Brady’s leadership has been pivotal, particularly in positioning euNetworks as a market leader in European data center networking. The successful recapitalization has enhanced euNetworks’ competitive position, enabling it to seize new opportunities in an increasingly interconnected digital landscape. On behalf of the Board and investors, we thank Brady for his dedication and wish him the very best. We are thrilled to welcome Kevin as Chairman and look forward to the continued success of euNetworks.”
As euNetworks moves into its next phase, the company stands well-prepared to support Europe’s growing bandwidth infrastructure needs. With a strong financial foundation and dedicated team, euNetworks is strategically positioned for long-term growth, ready to meet the digital demands of an interconnected Europe. Kevin Dean’s transition to Chairman signifies a seamless continuation of euNetworks’ mission to deliver best-in-class critical infrastructure across the continent.
