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Wildanet
Sector:
Telecoms
Transaction Type:
Fundraise
Date:
Dec 2020
Deal Value:
£50m

Oakley Advisory Limited (“Oakley”), the independent corporate finance firm offering specialist advice across the TMT sector, has advised Gresham House and its British Strategic Investment Infrastructure Fund LP (“BSIF” or “Gresham”) on its £50m investment into fibre to the premise network provider Wildanet, (the “Transaction”).

The transaction is another demonstration of Oakley’s expertise in the rapidly expanding digital infrastructure market, where Oakley currently has a strong pipeline of deal opportunities.

Wildanet is a Cornish internet service provider which will be using market leading fibre to the premise and fixed wireless technology to provide businesses and homes in the County with fast reliable broadband connectivity. The Company was established in 2017 and currently passes 30% of premises in Cornwall with its gigabit-capable fixed wireless network. Gresham’s investment will enable Wildanet to accelerate its network roll out plans and significantly increase its coverage of harder to reach premises in Cornwall, through the deployment of a new full fibre network and expansion of its existing fixed wireless network. The full fibre network is expected to reach 60% of premises in Cornwall over the next 3 years.

Oakley acted as sole financial advisor to Gresham House.

Victoria Boxall, Oakley Director, commented:

“We are delighted to have had the opportunity to work with the Gresham team on this transaction, the successful completion of which will significantly increase gigabit capable broadband coverage across Cornwall. The COVID-19 pandemic has further highlighted the requirement for gigabit capable broadband infrastructure, and the investment by Gresham will enable even the most rural homes and businesses across Cornwall to benefit from Wildanet’s expansion plans.”

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