"In a development that the UK's fourth largest full-fibre network has said reinforces confidence in its ability to deliver at scale while staying on track with its profitability targets, and in the face of stiff economic headwinds hitting similar companies, UK alternative network provider (altnet) Netomnia has announced that it has added £140m to its junior debt raise. The investment builds on Netomnia's £880m senior debt commitment, bringing total debt funding support to £1.2bn, and completes the £300m junior debt raise round."
"Further supported by Advencap, DigitalBridge and Soho Square Capital, Netomnia undertook a merger with fellow altnets YouFibre and Brsk in the summer of 2024 and the merged company's full-year results for 2024 showed the firm solidifying its position as the UK's second-largest altnet. The company ended 2024 with 2.08 million premises serviceable, adding 1.27 million in the year in which it made an acquisition adding 255,000 in the final quarter."
Netomnia added £140m to its junior debt raise, bringing total debt funding support to £1.2bn alongside an £880m senior debt commitment. The £140m came from increased commitments by I Squared Capital and Palistar Capital plus new lenders Rand Merchant Bank and Bain Capital, with the remaining £160m from existing investors I Squared and Palistar. Further support came from Advencap, DigitalBridge and Soho Square Capital following a summer 2024 merger with YouFibre and Brsk. The merged group ended 2024 with 2.08 million premises serviceable and 238,000 premises connected, generating £38.6m revenue and £29.6m adjusted EBITDA. Netomnia targets three million premises serviceable by end-2025 and five million by end-2027.
Read at ComputerWeekly.com
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