Oakley Advisory has now been acquired by Houlihan Lokey. Please visit HL.com
  • New York
  • Berlin
  • London
Freedom Fibre
Sector:
Telecoms
Transaction Type:
Fundraise
Date:
May 2022
Deal Value:
£84m

Oakley Advisory Limited (“Oakley”), the independent corporate finance firm offering specialist advice across the TMT and Online sectors, has advised Freedom Fibre, the Greater Manchester based, next generation wholesale Full Fibre to the Premises (FTTP) network provider, on its £84m minority investment from Equitix, a leading global investor, developer, and long-term fund manager of core infrastructure assets.

The Company was founded just over a year ago by telecoms network entrepreneur Neil McArthur, who pioneered broadband and fibre networks in the UK including rolling out TalkTalk’s nationwide footprint.

Freedom Fibre is already offering ultra-fast broadband to almost 20,000 homes across parts of Cheshire and Greater Manchester with minimal disruption to residents through its extensive use of BT ducts and poles. The Company is on track to reach 70,000 premises by the end of this year and a target to rollout to over 2 million premises in the North West. Freedom Fibre expects to boost customer penetration through its wholesale agreement with TalkTalk and will be seeking to add other broadband service providers over time as it scales.

Santander Bank has also signed a £16m debt facility with Freedom Fibre, which takes the total funding commitment to £100m.

The Oakley team comprised Chris Godsmark, Anthony Yaneza, James Whyms and Arno Reynders.

Neil McArthur, Freedom Fibre CEO, commented:

“A big thank you to the Oakley team who managed a rapid and accelerated process for us which completed ahead of plan. The team provided us with outstanding end-to-end transaction support and expertise to a great conclusion. We are excited to be driving forward our strategy and rollout with Equitix as our new partner.”

Darren Woods, Freedom Fibre CFO, commented:

“We are delighted to have secured this investment from Equitix which will help to materially accelerate Freedom Fibre’s rapid operational progress. We would not have achieved this without the Oakley team who supported us every step of the way with their strong sector expertise, knowledge and dedication.”

Chris Godsmark, Oakley Managing Partner, commented:

“I’m delighted that Oakley was able to help the Freedom Fibre team on this landmark fundraise with Equitix. This transaction is an endorsement of Freedom Fibre’s low cost to deploy business model and its execution to date which now have the support of a major industry investor. This transaction further demonstrates Oakley’s coverage and expertise in digital infrastructure.”

Related Transactions