Wireless Infrastructure Group (WIG) has grown its presence in the UK and Irish markets through two acquisitions.
WIG has added 42 networks across the UK with the acquisition of Arqiva’s indoor networks business and has acquired Highpoint Communications, which owns a portfolio of 27 telecoms towers in Ireland.
No financial details were disclosed.
Arqiva’s indoor networks cover locations such as Canary Wharf, Luton Airport, Excel Centre and several shopping centres including Bluewater, Arndale and Meadowhall.
WIG said the Highpoint acquisition is an opportunity for WIG to build scale in its Irish business by more than doubling its existing presence.
In September 2018, WIG refinanced its debt facilities with long-term institutional capital and a revolving capital expenditure facility that could be used to fund organic growth and acquisitions.
Both acquisitions are expected to make use of the capital expenditure facility, without further equity investment by 3i Infrastructure.
3i Infrastructure made its first investment into WIG in April 2016. In January this year, the company made a further investment to acquire a majority position in WIG as it bought the entire stake of Barings.
Phil White, the managing partner and head of infrastructure at 3i Investments, investment manager of 3i Infrastructure, said: “One of the key attractions of our investment in WIG is that it is a high-quality platform, which we expect to grow to help meet the ever-increasing demand for connectivity.
“These acquisitions, one in outdoor telecom towers and the other in a portfolio of indoor systems, demonstrate the WIG management team’s ability to identify and execute high-quality follow-on investment.”
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