Investments
Cameron Barney advises Giganet on its £250m capital injection from Octopus Investments
May 2021
Cameron Barney LLP is pleased to announce that it acted as exclusive financial adviser to M12 Solutions (the “Company”) in obtaining a long-term funding solution from Fern Trading to substantially expand the reach of its Giganet-branded ISP and accelerate the build of a substantial fibre network in central southern England.
Work has already commenced on the build of Giganet’s full fibre network to directly connect homes and businesses in Hampshire, Wiltshire, Dorset and West Sussex, and offer its Giganet full fibre broadband service to subscribers over Openreach and CityFibre’s full fibre networks. Giganet is targeting some two million homes and businesses in the region.
The transaction was structured to enable Fern Trading Limited (“Fern”), advised by Octopus Investments (“Octopus”), to acquire M12 Solutions, introduce additional senior executives, enable an investment by Fern of £250m and offer significant ownership participation by the management and employees. The Company’s plans are expected to generate a significant number of new jobs in the region over the next decade.
Check out the Giganet team’s video announcements below.
“We are delighted to have advised Giganet on this transformative transaction. The growth plan devised by the Company’s founders to take a top-rated regional ISP to become a potential national one required significant capital as well as an expanded leadership team. The acquisition of the Company and commitment from Fern Trading achieves these objectives.”
“Transforming from an ISP over other builders’ networks to building your own as well, requires expertise. We are pleased to become part of the Octopus family and expect to benefit substantially from knowhow and operational synergies shared among the Fern group. We would not have achieved this without Cameron Barney. They assisted us from the outset in building our team and then in securing the optimal partner for our further growth. What a great achievement through these weird covid times and the CB team were enjoyable to work with, consummate professionals and they helped get this project over the line.”
“Cameron Barney introduced me to Giganet’s founders and played a pivotal role in structuring a complicated transaction for the benefit of all constituents. Fantastic professionalism, guidance and patience throughout the process.”
About Giganet
Giganet is a highly experienced and well-proven Internet Service Provider with an almost perfect Trustpilot rating and an ambition to become one of the leading ISPs in the UK. With over eight years as an ISP, originally focussed on business connectivity and telecommunications, Giganet has been connecting residential customers to full fibre broadband for the past two years through relationships with CityFibre and Openreach. Giganet is resilient, scalable and adaptable to its customer’s needs. With a focus on reliable, fast speeds and honesty, Giganet is here to be different.
About Cameron Barney
Cameron Barney is an independent merchant bank providing financing and M&A advice to fast-growing companies in the ‘infra-tech’ sector. Cameron Barney has advised on over 20 transactions in the UK broadband sector. In addition to its advisory work, Cameron Barney is co-manager of Digital Infrastructure Investment Partnership (DIIP) which invests directly in fibre broadband infrastructure in the UK. Cameron Barney is authorised and regulated by the Financial Conduct Authority.
