Foresight Group invests in F&W Networks, strengthening its commitment to fibre broadband roll out
- The investment will scale up the roll-out of F&W Networks full-fibre-to-the-premise network
- The funding will add to the 185,000 premises already benefitting from F&W Networks infrastructure and create additional local jobs
- The investment by Foresight is the latest in a series focusing on increasing internet access in the UK
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17 October 2022: Foresight Group LLP (“Foresight”) the leading listed sustainability-led alternative asset manager, is pleased to announce that it has completed a significant investment in F&W Networks Limited (“F&W Networks”, “F&W” or “the Company”). Foresight will support the roll out of F&W’s full-fibre-to-the-premise network.
The Company currently provides 185,000 premises with access to a hyper-fast and reliable internet connection and is in the process of expanding its fibre-to-the-premises infrastructure in 21 communities in the South of England including the Home Counties, Greater London and West Sussex. Foresight’s investment will enable the acceleration of the Company’s network roll out, helping to further its ambition to pass 1 million properties by 2025, while creating local jobs in the process.
The investment in F&W Networks is Foresight’s latest in the fibre broadband sector following recent investments in Lightning Fibre and Connect Fibre. This investment will deliver a hyper fast 1Gbps internet connection to further premises in the South of England in line with the Government’s pledge to bring gigabit-capable broadband to at least 85% of UK premises by 2025. The investment into F&W Networks further demonstrates Foresight’s confidence in the sector and ambition to expand internet connectivity around the country.
Commenting on the investment, Anouska Morjaria, Senior Investment Manager at Foresight said: “This investment reaffirms Foresight’s confidence and commitment to the fibre broadband sector. We are delighted to be making another investment and look forward to working with F&W Networks to help increase the roll out of its full-fibre-to-the-premise network, connecting businesses and homes to high-speed quality internet.”
Carlos Bock, Executive Chairman of F&W Networks, added: “We are extremely pleased to announce Foresight’s investment in F&W Networks; this endorsement by Foresight is a significant testament to the management team and the Company. We are focussing on delivering next-generation digital infrastructure in the UK, and this partnership, with Foresight’s infrastructure investment capacities, will provide us with the ability to rapidly scale our roll-out.”
Foresight’s advisers included PwC, Shoosmiths and Analysys Mason. The Shareholders and Company were advised by Baker McKenzie and Hill Dickinson.
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Notes to Editors
About Foresight Group:
Foresight Group was founded in 1984 and is a leading listed infrastructure and private equity investment manager. With a long-established focus on ESG and sustainability-led strategies, it aims to provide attractive returns to its institutional and private investors from hard-to-access private markets. Foresight manages over 330 infrastructure assets with a focus on solar and onshore wind assets, bioenergy and waste, as well as renewable energy enabling projects, energy efficiency management solutions, social and core infrastructure projects and sustainable forestry assets. Its private equity team manages ten regionally focused investment funds across the UK and an SME impact fund supporting Irish SMEs. This team reviews over 2,500 business plans each year and currently supports more than 200 investments in SMEs. Foresight Capital Management manages four strategies across six investment vehicles with an AUM of over £1.5 billion.
Foresight operates across seven countries in Europe and Australia with AUM of £12.6 billion*. Foresight Group Holdings Limited listed on the Main Market of the London Stock Exchange in February 2021. https://www.fsg-investors.com/
*Based on Foresight Group unaudited AUM as at 30 September 2022.