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ITS Technology
Oakley advises ITS Technology Group on its investment from Aviva Investors
Transaction Type:
December 2019
Deal Value:

Oakley Advisory Limited (“Oakley”), the independent corporate finance firm offering specialist advice across the TMT sector, has advised ITS Technology Group (“ITS” or the “Company”) on its latest debt and equity fundraise, supported by a new institutional investor, Aviva Investors (“Aviva”), (the “Transaction”).

ITS designs, builds and operates full fibre and hybrid wireless networks to give business and residential communities access to gigabit capable connectivity. It has pioneered a ‘dig once’ model that reuses existing public and private infrastructure and has a number of partnerships with local authorities. This approach reduces the disruption that civils road digs create and accelerates the rollout of full fibre infrastructure. ITS’ networks are ‘open access’, giving wholesale access to internet service providers (ISPs), network and mobile network operators, and IT resellers.
As part of the Transaction, Aviva provided funding to support the Company’s continued roll out of ultrafast full fibre and hybrid networks in the UK and also injected secondary equity to enable non-management shareholders to exit.

Oakley acted as sole financial advisor on the Transaction. The Oakley team comprised Chris Godsmark, Managing Partner, Victoria Boxall, Director and Sarthak Sawlani, Associate.

Victoria Boxall commented:

It was a pleasure to advise ITS on its most recent fundraise. We were able to utilise our experience of fibre roll-out strategies and our knowledge of working with global infrastructure investors to secure the funding required to allow the Company to continue to successfully deliver against its strategy. The successful completion of the Transaction further demonstrates our expertise in this rapidly evolving and high profile space within the UK telecoms market”.

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