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The Business Magazine - B2B Business News - Site Logo
The Business Magazine - B2B Business News - Site Logo
The Business Magazine July 2024
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Netomnia merges with Brsk

The deal will involve Brsk moving under the umbrella of Netomnia’s parent holding company, Substantial Group, but it will be run as a separate entity with Giorgio Iovino, Brsk’s chief executive, remaining in the role.

A new wholesale company will also be created, which will aggregate the two networks and eventually seek to acquire other altnets.

Netomnia has raised £795.5m of investment in the space of just three years via Advencap, DigitalBridge and Soho Square. The newly merged group will have a combined network footprint of 1.5 million premises and a customer base of 140,000, with a target of reaching 3 million premises by the end of 2025.

The private equity group at national law firm Freeths has advised the Substantial Group management team, the ultra-fast full fibre broadband provider, on its merger with Brsk in a deal that marks the largest consolidation of alternative network providers.

The Freeths team was led by M&A and private equity partner, Malin Svanberg Larsson, supported by senior associate Charlotte Hartwright, associate Ellie Harrison and trainee solicitor Dean Kansu.

Malin Svanberg Larsson said: “We are delighted to work with Jeremy, Wil and the whole Substantial Group team on this exciting transaction, developing our strong relationship already gained being incumbent in the group portfolio. This transaction 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 said: “The Freeths team, led by Malin Svanberg Larsson, have been hugely impressive, consistently providing strategic, commercial advice to ensure the transaction was successfully delivered against a sharp timetable.”

Buyside Advisors Include

Sellside Advisors Include

    Share
    Brsk
    has merged with
    Netomnia
    June 2024
    UNDISCLOSED
    DPC Chartered Accountants
    has been acquired by
    Sumer
    July 2024
    UNDISCLOSED
    who's behind the deal?
    Covestus
    has received investment from
    Maven
    July 2024
    UNDISCLOSED
    who's behind the deal?
    KMG Independent Limited
    has been acquired by
    Skerritts
    UNDISCLOSED
    who's behind the deal?

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