Netomnia has secured an additional £25 million loan from the National Wealth Fund (NWF).
Tue, 27/09/2022 - 13:47
abrdn’s Core Infrastructure team will make a major equity investment in Wessex Internet to accelerate the deployment of its rural south west rollout.
Wessex’s footprint across Dorset, Hampshire, Wiltshire and Somerset covers tens of thousands of homes and has secured contracts that target an additional 150,000 premises by 2027.
At the end of August 2022, Wessex was awarded the first subsidy contract under the new £5bn Project Gigabit broadband scheme, which will reach 7,100 premises in rural parts of North Dorset.
Hector Gibson Fleming, CEO at Wessex Internet, said: “This investment from abrdn is a demonstration of the success of our differentiated strategy.
“As we accelerate our rollout, we will fulfil our vision of connecting the rest of the communities within our region.”
Alex Anderson, Investment Director, abrdn Core Infrastructure, added: “We look forward to working alongside Wessex Internet’s founders and management team, leveraging our capabilities and experience in the infrastructure sector to deliver this next phase of growth to the benefit of several historically underserved rural parts of the country.
