PwC Corporate Finance advises Equitix on their equity funding commitment to Gigaclear, the UK’s leading rural full fibre broadband alternative network provider
PwC’s UK Corporate Finance team is pleased to announce that it has advised Equitix on their investment of up to £420 million to help Gigaclear extend its fibre network. Gigaclear already serves more than 450,000 premises and the additional equity commitment from Equitix will support its long-term plan to service more than 1 million premises by 2027.
Gigaclear builds and operates the UK’s largest rural fibre-to-the-home (FTTH) network delivering ultrafast and reliable full fibre broadband to rural communities.
PwC acted as lead M&A financial advisor to Equitix on this transaction. Having acted as the lead M&A financial advisor on over 10 projects in the fibre sector, PwC also advised Equitix on its investment in Grain Connect in 2021.
“We are delighted to have supported Equitix on this landmark deal. Gigaclear is the UK’s largest rural fibre alt-net and this investment from Equitix along with their experience in the fibre market, will support Gigaclear in achieving their ambitious roll out plans. This deal demonstrates the significance of digital infrastructure assets and is in line with the Government’s pledge to bring gigabit-capable broadband to at least 85% of UK premises by 2025”
“We are proud to be partnering with Gigaclear to support the delivery of reliable, affordable, full fibre broadband to rural areas of the UK, supporting our wider strategic aims to invest in UK critical infrastructure. We were pleased to appoint and work with PwC again, recognising their market leading expertise in delivering lead advisory M&A services in the digital infrastructure space.”
PwC team
The PwC team advising on the deal was Asim Iqbal, Luke Sandford, Tom Wellingham, Joe Stevenson, Zain Faheem and William Isted.
