Warburg Pincus, DTCP Take Majority Stake In Community Fibre Limited
Warburg Pincus and DTCP are to acquire a majority stake in Community Fibre Limited, a full-fibre broadband provider in the U.K. The two investors will join existing investors Amber Infrastructure and RPMI Railpen.
Community Fibre delivers 1 Gbps of full-fibre broadband to households and up to 10 Gbps of full-fibre broadband to businesses. The firm has ambitions to fibre-enable one million households by 2023, funded by the new shareholders. Unlike most other providers, they launch and operate their own dedicated 100% full-fibre network.
Rene Obermann, Co-Head of Europe and Managing Director of Warburg Pincus Deutschland GmbH, said: “Community Fibre aims to close the digital divide and promote social inclusion. Affordable high speed internet for London’s social housing, and free Gigafast connection to community centres and libraries will create limitless opportunities in education, recruitment, and training, with one click of a button.”
Vicente Vento, Co-Founder and CEO at DTCP, added: “Now, more than ever, we believe in a world where ubiquitous and affordable high speed connectivity helps society thrive. We are looking forward to partnering with Community Fibre, together with Warburg Pincus, to support them on their mission to power communities with ultra-fast fibre connectivity across London.”
Greenhill advised Warburg Pincus and DTCP. Terms of the transaction were not disclosed.
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