Burges Salmon’s Corporate Finance team has advised Fern Fibre Limited and Octopus Investments Limited on the acquisition of internet service provider (ISP) M12 Solutions Limited (M12) together with a £250m funding package.
The takeover of M12 and the Giganet brand along with Fern Fibre’s £250 million funding will see the ISP offer high-speed, full fibre broadband to two million more homes and businesses across the UK.
The acquisition and ISP rollout will also create more than 200 jobs to facilitate the full fibre connection at addresses across Hampshire, Dorset, Wiltshire and West Sussex. Giganet uses CityFibre and Openreach infrastructure to deliver its services, and the company will also begin the construction of its own network. The Octopus and Fern Fibre teams anticipate significant operational synergies and huge potential for future growth as a result of this strategic acquisition.
The Burges Salmon team advising on the transaction was led from the firm’s Edinburgh office by Corporate Finance partner Danny Lee with support from associate Katie Carter.
Danny says: “We are really pleased to have worked alongside Fern Fibre and Octopus Investments to bring the acquisition of M12 and the Giganet brand as well as the £250m funding injection to a successful conclusion.”