Investments
Cameron Barney advises Wifinity on its MBO backed by LDC
September 2021
Cameron Barney LLP is pleased to announce that it acted as exclusive financial adviser to Wifinity Ltd. (the “Company”) in its sale to a Management Buyout (MBO) backed by mid-market private equity investors LDC (part of the Lloyds Banking Group) and Literacy Capital.
The transaction enabled the founders of Wifinity to exit fully from the Company and the existing management team, led by Costas Demetriou, to acquire the business and bring additional capital into the Company to fund its growth.
Wifinity is a UK-based internet service provider delivering connectivity solutions in multiple market segments, including military accommodation, holiday parks, student accommodation and multi-dwelling units.
This transaction continues Cameron Barney’s relationship with the Company having also advised on its acquisition of PCCW Global Networks (UK) and debt finance from Digital Colony in November 2020, an equity financing from Literacy Capital and other private investors in December 2017 and a debt financing from Clydesdale in December 2016.
“We were delighted to have advised the original founders and shareholders in achieving this landmark transaction. The management buy-out, led by the experienced CFO, Costas Demetriou, heralds a new era of expansion for the Company with fresh institutional investment from LDC and the continued support from Literacy Capital and Digital Colony.”
“Cameron Barney advised us on two transactions in quick succession – the acquisition of Optify and the almost immediate subsequent sale of the enlarged business. It took considerable planning, resource and project management and we greatly appreciated the quality of advice and level of commitment of the Cameron Barney team.”
About Wifinity
Wifinity specialises in providing reliable, high-speed broadband to customers on campuses and other multi-dwelling sites, such as student and key worker accommodation and holiday parks. Based in Kingston upon Thames, Wifinity has built a loyal customer base, serving over seven million users since it was founded in 2007 thanks to its router-free, no-contract, Gigabit-speed service. It is also a managed service provider to leading retailers, and other leisure and hospitality businesses.
About Cameron Barney
Cameron Barney is an independent merchant bank providing advice and capital to clients in the infrastructure and technology sectors. Cameron Barney has advised on over 20 financings in the FTTP sector. Cameron Barney is authorised and regulated by the Financial Conduct Authority.
