Gigaclear secures up to £420m from Equitix

Gigaclear has secured up to £420m in equity investment from Equitix to drive its fibre rollout to service more than a million premises by 2027. Its network currently serves more than 450,000 homes across 23 counties.

Gareth Williams, CEO at Gigaclear, said: “Gigaclear will push forward, ensuring many more communities in rural England are able to benefit from full fibre broadband speeds enjoyed by their urban counterparts.

“Alongside our commercial expansion, we will continue to explore opportunities to work with the Government on its Building Digital BDUK programme.”

Hugh Crossley, CEO at Equitix added: “In line with our strategic aims to support the UK’s infrastructure and essential services whilst positively impacting local communities, our investment here is a positive step towards generating connectivity for all.”

Infracapital invested in Gigaclear through its greenfield strategy which is to build, deliver and operate greenfield infrastructure. Gigaclear is principally owned by Infracapital, the infrastructure equity investment arm of M&G.