Amberside Capital advises Complete Technology Group on £125m investment from InfraRed Capital Partners
CTG’s Complete Fibre division takes an innovative approach to providing a multi-fibre system in a single installation in social housing
14 February 2022 Complete Technology Group (CTG) is preparing to improve the broadband capability of 700,000 homes across the UK after securing £125m investment from InfraRed Capital Partners (InfraRed).
CTG was established during the Covid pandemic by a group of four experienced infrastructure experts with the aim of improving fibre optic connectivity to poorly served communities, including multi-occupancy, social and new-build housing, whilst driving up installation standards and accountability, and reducing the risk of fire.
Amberside Capital advised CTG during a nine-month period to secure major investment from InfraRed, helping to develop CTG’s business plan and create a comprehensive data room of information for investors, before running a focused funding competition.
After receiving a number of competitive bids, Amberside helped the management team assess the various investment structures available and supported CTG in negotiations with InfraRed through to close.
InfraRed’s investment in CTG’s Complete Fibre division – on behalf of InfraRed Infrastructure Fund V – will enable the company to work predominantly with social landlords, including local authorities and housing associations, to provide multiple fibres in a single installation that can serve an entire building.
The investment from InfraRed will enable CTG to hire around 100 people in the weeks and months ahead.
David Lomas, co-founder of Amberside Capital, said:
“We are delighted to have assisted CTG in this key part of their journey. InfraRed brings both the capital needed and a deep understanding of how to scale businesses such as this, which should allow the management team to fulfil their ambitions in this sector.”
This fund raise follows Amberside advising Wildanet, a Cornwall-based fibre network operator. on their £50m fund raise.
Eddie Minshull, CEO of Complete Technology Group, said:
“We are delighted to have secured this investment from InfraRed which allows us to accelerate our delivery and bring about positive change to tenants, landlords and the telecommunications sector. Amberside were instrumental in helping us to secure this investment. We really appreciate their professionalism and support in guiding us through the process.
Stephane Kofman, Director of Infrastructure at InfraRed Capital Partners, said:
“Modern digital infrastructure is playing an increasingly important role in the global economy. High quality fibre optic infrastructure has a key role to play in accelerating digital inclusion.
“Fibre optics is a scalable and power-efficient form of technology which contributes significantly to the UK and EU’s climate goals, and this investment reflects InfraRed’s commitment to continuing to invest in sustainable community assets which support the modern economy.
“The support and advice Amberside offered to CTG helped us performing an efficient due diligence on this opportunity and bringing it to a successful close”
For more information on how Amberside can support fund raising businesses and infrastructure investors, please contact Dan Scowcroft on dan.scowcroft@amberside.com