Full fibre ISP Grain has carved out plans to extend its fibre optic footprint to cover 300,000 homes and businesses across Britain following a £75m equity investment from European infrastructure investor Equitix, alongside Albion Capital.
Additionally, Grain has begun preparatory talks with lenders for a £100m debt funding process that could see it push further than the goals it has set out. The ISP will focuss its enhanced rollout on new-build housing developments and existing urban housing but has recently begun to roll out its services to several towns and cities across the north of Europe.
Grain’s Chairman, Sean Williams (pictured), said: “The team is already accelerating the build programme and this funding helps us to scale up the national platform that we have already established.”
Hugh Crossley, Chief Investment Officer for Equitix, said: “We support the management team’s initiatives to improve the scale and quality of their operations by investing in services and personnel.”
David Gudgin, Partner at Albion Capital, added: “Grain’s ability to provide fibre to greenfield developments and existing housing makes its business model unique amongst the new fibre providers.” Albion Capital first invested in the business in 2019 and participated further in this round.
Grain’s founding shareholder Pinnacle Group will be retaining a significant proportion of its interest in the company.