Quickline Communications, the Yorkshire-based specialist broadband provider, has acquired funds to bring full-fibre and 5G tech to rural Britain.
Northleaf Capital Partners, a Canadian private markets investment firm, has bought a majority share in Quickline’s holding company, QCL Holdings Ltd.
The acquisition enables Quickline’s strategy to invest more than £500m in ultrafast and gigabit-capable broadband connectivity in rural Northern England.
New 5G capabilities will be a first of its kind in the UK, with the start of a large-scale, full fibre rollout to complement this in remote areas.
The company is currently upgrading digital infrastructures across North Lincolnshire, Lincolnshire, West and North Yorkshire.
Sean Royce, CEO of Quickline, said: “This is a major turning point in Quickline’s history and sets us even further apart from other ultrafast broadband providers.
“Receiving this kind of investment from Northleaf provides us with the ability to supply life-changing gigabit-capable broadband to hundreds of thousands of rural customers that previously were unable to access the internet at speed.
“We look forward to working alongside Northleaf to create this unique hybrid next-generation network, provide hundreds of jobs and build a business that provides new breakthroughs in internet connectivity for broadband users in remote pockets of the UK.”
Roderick Gadsby, UK and Europe head of infrastructure, Northleaf, said: “We are delighted that the acquisition has been successfully completed. Quickline is an excellent fit with our communications infrastructure investment strategy and offers our investors exposure to an attractive and growing sector.
“The evolution of the industry is being led by the likes of Quickline, which has experienced rapid growth in recent years.
“Quickline plans to utilise both full fibre and 5G fixed wireless technologies to accelerate the deployment of gigabit-capable broadband in remote UK regions which will provide critical infrastructure to rural communities in its target markets.”