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Full Fibre ISP Telcom Group Gets GBP63m UK Investment Boost

Thursday, July 1st, 2021 (10:25 am) - Score 1,920
telcom van

Manchester-based UK ISP Telcom (ClearFibre, WeFibre etc.), which is busy deploying a gigabit-capable “full fibre” broadband and Ethernet network across the North West of England and Midlands, has managed to secure a significant investment of £63m from Gresham House, a specialist alternative asset manager.

At present, the operator aims to deploy their 1Gbps capable Fibre-to-the-Premises (FTTP) network to cover 1 million premises by the end of 2023 (here) and the additional investment from Gresham House, which is being released through their British Strategic Investment Fund (BSIF), should help to fuel their effort to reach more homes and commercial properties.

NOTE: BSIF was established to invest specifically in the sustainable infrastructure and housing sectors. As a closed-ended fund with a 12-year time horizon, BSIF invests with a long-term view.

According to today’s announcement, the group’s focus, outside Manchester, will be on building fibre networks in key Northern and Midlands “powerhouse cities.” We note that WeFibre recently invested £5m in Marsden, West Yorkshire, to build a brand-new full fibre network to more than 2,200 premises.

On top of that, the operator is also busy extending their existing fibre networks in the North West, starting with Tameside in Greater Manchester and Blackpool, with the aim of delivering gigabit broadband speeds to a further 150,000 premises (50,000 premises and 100,000 premises respectively) by the end of this year.

Shaun Gibson, Telcom Group co-Founder and CEO, said:

“The Gresham House investment comes after a period of hard work by the management team and board in structuring the company for a period of high-level sustained growth. This is a tremendously exciting time for Telcom employees and shareholders, as we continue building our great company for the long term and obsessing over our customers.”

The investment allows us to scale up our unique full-stack platform, while accelerating our mission to create a more connected world by building full-fibre networks, reducing costs, and empowering communities.”

Peter Bachmann, MD of Gresham House Sustainable Infrastructure, said:

“Telcom’s ‘full-stack’ approach is highly differentiated, as it offers customers a genuinely bespoke, technology-driven broadband service. As Telcom looks to expand its coverage, this should appeal to the many British businesses relying on good connectivity to operate efficiently.

Given its urban and multiple-dwelling unit focus, the addition of Telcom to the Gresham House family of broadband providers also compliments our investments in rural broadband providers and contributes to our wider push for greater digital inclusion across the UK. Reliable high-speed broadband infrastructure is necessary to power the British economy and enable increased social inclusion – through remote learning and working, and tele-health.”

Corporate finance firm Oakley Advisory and law firm Gunnercooke advised Telcom Group on the deal. Finance and tax consultancy RSM UK, management consultancy Analysys Mason and law firm Shoosmiths advised Gresham House.

The biggest challenge for Telcom will be their focus on urban builds, which will no doubt see them rubbing up against competing deployments and services from gigabit-capable rivals.

Leave a Comment
1 Response
  1. CeredigionMan says:

    This is great news for those communities in Ceredigion who backed WeFibre in the recent Broadband Upgrade Fund. Lets hope the DCMS start releasing monies for the build programme to start.

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