Bigblu Broadband plc on the proposed sale of rural fixed wireless and fibre operator, Quickline Holdings Limited

The sale values 100% of Quickline at up to £92.1 million, of which BBB’s shareholding in Quickline is valued at up to £48.6 million (assuming deferred consideration is paid in full). Northleaf has acquired a majority stake in Quickline for cash, with selected existing shareholders, including Quickline management, BBB and Harwood Capital continuing to each hold minority equity stakes in Quickline.

Founded in 2008, Quickline offers a hybrid technology solution including 5G fixed wireless and FTTP, often working with Government and local authorities, to solve connectivity problems in rural and hard to reach areas. Having secured four major BDUK grants across Yorkshire and Lincolnshire in late 2020, Quickline is seeking to scale up the business with ambitious growth plans to pass 500,000 premises with gigabit-capable broadband across rural areas in the north of England and beyond.

Northleaf is a global private markets investment firm with approximately US$15 billion in commitments under management on behalf investors, including public, corporate and multi-employer pension plans, university endowments, foundations, financial institutions, family offices and high net worth individuals. Northleaf was formed in 2009 by the successful spin-out of TD Capital Private Equity Investors, the independent private equity investment arm of TD Bank Group. Northleaf’s 150-person team, headquartered in Toronto with offices in Melbourne, Montréal, London, New York, Chicago and Menlo Park, is focused exclusively on sourcing, evaluating and managing private market investments globally. Northleaf currently manages more than 400 active private equity, private credit and infrastructure investments in 40 countries.

Torch Partners acted as financial adviser to Bigblu Broadband plc, further demonstrating Torch Partners’ expertise and track record in advising internet infrastructure companies on M&A transactions globally.

Full transaction information can be found at: https://bbb-plc.com/news/regulatory-news.