• New York
  • Berlin
  • London
Gigaclear plc
Transaction Type:
Apr 2017
Deal Value:

Oakley Advisory Limited (“Oakley”), the independent corporate finance firm offering specialist advice across the TMT sector, has advised Gigaclear plc (“Gigaclear” or the “Company”) on its latest £110.6m fundraising via a placing of new shares with global infrastructure investors. The funding supports the continued roll out of Gigaclear’s ultrafast fibre broadband network and is believed to be the largest fibre to the premises (“FTTP”) fundraising to date in the UK by an independent operator.

The fundraising included a new incoming investor, RPMI Railpen and was supported by the Company’s existing institutional investors, InfraCapital Partners and Woodford Investment Management. In addition to the fundraising, existing Gigaclear shareholders have also sold £10m of equity. The transaction completed on 4th May 2017.
The Oakley team comprised Chris Godsmark, Managing Partner, Christian Craggs, Managing Director, Victoria Boxall and Marc Horn, Assistant Directors, and Hannah Dodds, Investor Relations Manager. Oakley acted as sole advisor to the transaction.

Gigaclear was founded by Matthew Hare, the Company’s Chief Executive Officer, in 2010. The Company designs, builds and operates superfast, pure fibre, broadband networks for rural communities in the UK, and is currently rolling out in multiple counties across the south of the UK. The Company has been highly successful in winning contracts under the Broadband Development UK (BDUK) Government scheme for rural areas. Gigaclear offers residential and business customers a direct fibre connection providing virtually unlimited bandwidth in locations where customers typically receive low speed broadband connections.

Chris Godsmark, Managing Partner of OAL, commented:

“We are extremely pleased to have had the opportunity to advise the UK’s leading provider of rural FFTP on its most recent fundraise, which is the largest FTTP fundraise to be completed in the UK to date. We were able to utilise our expertise in fibre roll-out strategies and our knowledge and experience of working with PLCs and global infrastructure investors to secure the funding required to allow the Company to continue to successfully deliver against its ambitious roll out strategy, and maintain its impressive growth trajectory. It was a pleasure to work with a leading and entrepreneurial management team and investor group.”

Oakley Advisory

Oakley is one of Europe’s leading independent corporate finance firms offering expert, specialist advice across a range of sectors including Telecoms, Technology, Online, Media, Datacentres and Hosting. We are unique in the mid-market in offering highly specialised sector insight and knowledge combined with our Equity Capital Markets capability, meaning we can provide the fullest possible suite of advice across both public and private markets. Oakley has completed over 90 deals in the past almost ten years with a value of nearly £17bn.

This transaction marks the fourteenth deal we have announced or completed in the last twelve months advising including advising Ingresso on its sale to accesso Technology Group, advising Infinity on the sale of its Stockley Park Data Centre to Zenium, Lyceum on its acquisition of Timico, Just Eat on its acquisition of SkipThe Dishes, Daisy on its acquisition of Alternative Networks, Modrus on its sale to Nasstar, Optimity on an investment by FPE Capital and Southern Communications on an investment by Livingbridge.

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