Gigaclear Receives £420 Million Investment from Equitix to Fuel Rural Broadband Expansion

Gigaclear, the UK’s leading rural full fibre broadband alternative network provider, has secured a substantial equity investment from Equitix, further solidifying its commitment to connecting rural communities with high-speed full fibre broadband. This strategic funding aims to support Gigaclear’s ambitious plan to serve over one million premises with full-fibre broadband by 2027.

Gigaclear is renowned for its extensive rural fibre-to-the-home (FTTH) network, offering ultrafast and reliable broadband services to rural areas across the UK. With more than 450,000 homes already benefiting from its network in 23 counties, this investment will propel the company’s network expansion.

Equitix, the infrastructure equity investment division of M&G Plc, is joining forces with Gigaclear to drive the expansion of reliable and high-quality broadband services to underserved rural towns and villages, ensuring they are not left behind in the digital age.

Gareth Williams, CEO of Gigaclear, highlighted the significance of this investment, emphasizing Gigaclear’s commitment to bridging the digital divide. Williams noted that focusing on connecting underserved rural communities sets Gigaclear apart from other fibre providers, and this investment will accelerate their mission.

Williams stated, “There are more than one million additional homes and businesses in the UK for us to build to that fall within our company’s mission. Gigaclear will push forward, ensuring many more communities in rural England are able to benefit from the ultrafast full fibre broadband speeds enjoyed by their urban counterparts.”

Hugh Crossley, Chief Executive Officer at Equitix, emphasized the positive impact of this partnership on local communities. Equitix is dedicated to supporting the UK’s infrastructure and essential services while enhancing connectivity for all. Crossley highlighted the essential nature of fibre infrastructure and praised Gigaclear’s position as the largest rural alternative network (altnet) provider in the UK.

Andy Matthews, Head of Greenfield at Infracapital, which is Gigaclear’s principal owner, expressed the belief that fast and reliable digital infrastructure, especially in rural areas, is vital for economic growth and job creation. Infracapital initially invested in Gigaclear in 2015, and this ongoing partnership aims to address the evolving needs of society and bolster long-term economic growth across Europe.

Jonny Rae

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