Full Fibre Limited has been acquired by infrastructure investment fund Basalt in a deal that will see the company spread its wholesale fibre-only infrastructure to at least 500,000 additional premises by 2025.
The business will continue its focus on market towns and areas, initially in the West Midlands, Central and South West, that are not currently scheduled to be reached by the national FTTP rollout.
Under the terms of the deal, Basalt takes a majority interest in Full Fibre and will provide both capital investment and additional management expertise in growing successful infrastructure businesses.
Oliver Helm (pictured), CEO of Full Fibre, explained, “The current environment has highlighted more than ever the need for gigabit capable fibre broadband to be available as standard, and we are delighted to work with Basalt to accelerate this rollout, fueled further by the strengthening of our management team.
“Our ‘wholesale only, fibre only’ approach provides a future proofed, competitive marketplace to both ISPs and consumers, that is key to unlocking the technology-lead, flexible working economy. As we invest millions of pounds into these market towns, our new fibre infrastructure will help to revitalise businesses, drive economic growth and unlock social mobility where traditional copper services have frustrated progress.”
Steven Lowry, partner of Basalt Infrastructure Partners, added, “We are pleased to have acquired Full Fibre through a bilateral acquisition process and to support the company’s business plan through further capital investment. We look forward to working closely with the management team to accelerate the delivery of reliable, wholesale, and high speed FTTP services to underserved market towns in the West Midlands, Central and South West of England.”
Full Fibre said it will announce the first wave of towns that will be connected in early 2021.