Freeths advises on high-profile broadband merger
The private equity group at national law firm Freeths has successfully advised the Substantial Group management team, a leading ultra-fast full fibre broadband provider, on its merger with Brsk
This landmark deal represents the largest consolidation of alternative network providers in the broadband sector.
Netomnia, backed by Advencap, DigitalBridge, and Soho Square, has raised £795.5m in investment over the past three years. The newly merged group will boast a combined network footprint covering 1.5 million premises and serve a customer base of 140,000. The group has set an ambitious target to expand its network to 3 million premises by the end of 2025.
The Freeths team leading the transaction was headed by M&A and private equity partner, Malin Svanberg Larsson. She was supported by senior associate Charlotte Hartwright, associate Ellie Harrison, and trainee solicitor Dean Kansu.
Malin Svanberg Larsson commented on the deal, saying, “We are delighted to work with Jeremy, Wil, and the whole Substantial Group team on this exciting transaction. This demonstrates Freeths’ strength, expertise, and capability to support private equity backed businesses on their growth journey.”
Jeremy Chelot, Founder and CEO of Netomnia and Youfibre, praised the Freeths team, led by Malin Svanberg Larsson, for their impressive work. He highlighted their strategic and commercial advice, which ensured the successful completion of the transaction within a tight timeframe.
The merger between Substantial Group and Brsk, facilitated by Freeths, underscores the firm’s commitment to supporting significant transactions in the broadband sector and its role in driving growth and consolidation within the industry.