M&G’s infrastructure equity investment arm is buying a fibre broadband network provider in Northern Ireland.
Infracapital said it has agreed to acquire a controlling interest in Fibrus and will provide funding for the commercial roll-out of fibre-to-the-premises to over 145,000 premises across Northern Ireland.
Financial details were undisclosed.
Infracapital said the investment in Fibrus will come from its greenfield strategy which seeks to build, deliver and operate essential greenfield infrastructure across Europe.
Andy Matthews, head of greenfield at Infracapital, said: “We are delighted to announce the acquisition of Fibrus and to play our role in delivering an increasingly essential service to society in tandem with delivering value to our investors.
“We are also particularly excited to announce our first investment in Northern Ireland. The investment is indicative of the significant opportunity to build, deliver and operate essential greenfield infrastructure across Europe, where we are seeing a number of opportunities to deploy further funds in the coming months and years.”
Conal Henry, Fibrus co-founder and chairman said: “Alongside Infracapital, Fibrus now has the firepower to deliver, at scale and pace, our radical plan to transform the broadband landscape in the region.
“With this investment we will deliver the digital infrastructure that will transform our economy and our society.”