{"id":35473,"date":"2023-08-21T09:15:38","date_gmt":"2023-08-21T08:15:38","guid":{"rendered":"https:\/\/www.ispreview.co.uk\/?p=35473"},"modified":"2023-08-21T10:18:02","modified_gmt":"2023-08-21T09:18:02","slug":"brsk-secure-156m-debt-funding-boost-for-uk-full-fibre-rollout","status":"publish","type":"post","link":"https:\/\/www.ispreview.co.uk\/index.php\/2023\/08\/brsk-secure-156m-debt-funding-boost-for-uk-full-fibre-rollout.html","title":{"rendered":"Brsk Secure \u00a3156m Debt Funding Boost for UK Full Fibre Rollout"},"content":{"rendered":"<p>Broadband ISP and network operator <a href=\"https:\/\/www.brsk.co.uk\/\" target=\"_blank\" rel=\"noopener\">Brsk<\/a>, which has so far built their own gigabit-capable Fibre-to-the-Premises (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/link\/fttp\">FTTP<\/a>) network to cover 266,000 UK premises &#8211; mostly around the Midlands (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/2023\/05\/brsk-reveals-uk-full-fibre-rollout-plan-for-800000-premises.html\">rollout plan<\/a>), has today secured an &#8220;<em>additional<\/em>&#8221; \u00a3156m debt investment from funds managed by existing investor Ares.<!--more--><\/p>\n<p>The operator, which in 2022 secured a funding boost of \u201c<em>up to<\/em>\u201d <strong>\u00a3178m<\/strong> from the same source (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/2022\/09\/isp-brsk-secure-178m-funding-boost-for-uk-full-fibre-rollout.html\">here<\/a>), tends to focus its efforts on parts of Greater Manchester, Lancashire, West Yorkshire and the West Midlands in England. Brsk holds a long-term aim of passing<strong> 1 million homes<\/strong> by 2026 and some of their locations include Cottingley, Keighley and Bingley, Clayton, Allerton &amp; Sandy Lane, Bradford, Accrington and many more.<\/p>\n<div class=\"bq2\"><strong>NOTE:<\/strong> Brsk is supported by funding from Advencap and the Ares Management Corp.<\/div>\n<p>Just to be clear. The funding &#8211; from funds managed by Ares Management Corporation\u2019s (\u201cAres\u201d) Infrastructure Debt strategy &#8211; has been upsized from an initial \u00a3103m commitment and now totals <strong>\u00a3259 million<\/strong>. The financing will support brsk\u2019s growth and &#8220;<em>enable their [<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/link\/fttp\">FTTP<\/a>] network to reach the million-homes mark by 2026<\/em>&#8220;.<\/p>\n<p>The news also states that their network now covers approximately 250,000 Ready for Service (RFS) homes and is home to 14,000 customer connections. The premises passed count is a bit down from the 266,000 reported in the recent Neos Network news (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/2023\/08\/full-fibre-uk-isp-brsk-pick-neo-networks-to-boost-network-capacity.html\">here<\/a>), which we assume is either down to rounding, a possible exclusion of business premises (they only mention &#8220;<em>homes<\/em>&#8220;) or because all the 266k weren&#8217;t yet RFS at the time of that news.<\/p>\n<p>Brsk was founded by Giorgio Iovino &amp; Ian Kock in 2020, both founding members of Vumatel, now the largest fibre network in South Africa. Together with support from equity partner Advencap, they are a team with plenty of experience in large scale fibre deployments. Brsk was supported in today&#8217;s funding deal by Sullivan &amp; Cromwell LLP as legal advisor, while Ares was supported by Baker Botts as legal advisor.<\/p>\n<blockquote class=\"bq1\"><p><strong>Giorgio Iovino, co-founder of Brsk, said:<\/strong><\/p>\n<p>&#8220;With support from Ares, our network has grown almost fivefold, we couldn\u2019t be happier working with like-minded financing partners to make it possible. Securing this funding is a significant milestone in clearing the runway for us to take full fibre broadband to 1 million homes.&#8221;<\/p><\/blockquote>\n<blockquote class=\"bq1\"><p><strong>James Fox, Managing Director of Infrastructure Debt at Ares, said:<\/strong><\/p>\n<p>&#8220;We are delighted by the opportunity to continue to transact with Brsk and support them on their next phase of growth. We have been pleased with the delivery of their plan since our initial investment and look forward to working with Giorgio and the team as they look to realise their goal of delivering fibre broadband to 1 million homes.&#8221;<\/p><\/blockquote>\n<p>Standard prices from brsk typically start from \u00a325 per month for an unlimited 100Mbps symmetric speed package on a 24-month term (inc. a free installation and router), which rises to \u00a345 for their top 900Mbps package (they\u2019re currently selling it for just \u00a330 until the end of this month!).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Broadband ISP and network operator Brsk, which has so far built their own gigabit-capable Fibre-to-the-Premises (FTTP) network to cover 266,000 UK premises &#8211; mostly around the Midlands (rollout plan), has today secured an &#8220;additional&#8221; \u00a3156m debt investment from funds managed by existing investor Ares.<\/p>\n","protected":false},"author":1,"featured_media":35475,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[1],"tags":[2660,56,435,1868,485],"class_list":["post-35473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uk_isp_news","tag-brsk","tag-fttp","tag-lancashire","tag-manchester","tag-west-midlands"],"share_on_mastodon":{"url":"","error":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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