DIF Capital Partners has invested £25m (€28m) to buy a majority stake in UK fibre broadband operator 4th Utility.
DIF said the investment, which was made through its DIF Core Infrastructure Fund (CIF) II fund will help the Manchester-based internet service provider to scale up the rollout of its services.
4th Utility currently operates fibre-to-the-premise networks within a number of residential property developments in the north of England.
The transaction is the first investment for DIF CIF II in the UK and its third investment in the digital infrastructure sector following recent acquisitions in Canada and France.
Willem Jansonius, head of DIF CIF, said: “We are pleased to bring our experience in digital infrastructure to support 4th Utility and their management team in delivering FTTP infrastructure investment to underserved properties in the UK.”
Tony Hughes, CEO of 4th Utility, said: “This long-term investment allows us to expand our current platform and provide ‘full-fibre’ connectivity to a significant number of new customers.”
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