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London-based private equity firm, Kingsley Capital Partners (‘Kingsley’), today announces that it has signed an agreement to acquire Intelligent Communications limited (‘ITL’), the UK’s fastest growing fibre service operator.

ITL was established in 2012 with the vision to become the leading provider of end-to-end fibre deployment services in the UK. Since then, it has developed an impressive track-record of delivery and developed a strong and loyal customer base among the leading owners and operators of fibre optic networks in the UK. 

Current levels of demand for UK fibre installation services are unprecedented. Broadband technology has been forced to evolve to meet increased bandwidth demand, and the onset of 5G mobile technology and convergence of data usage to mobile devices has accelerated the need for full fibre-optic networks. ITL is one of only a few businesses in the UK with the experience, expertise and scale necessary to meet this level of demand and is, consequently, enjoying significant and rapid growth. 

Kingsley will work closely with ITL’s management team to review the business, implement stronger financial controls and governance procedures, and develop a strategy to fuel the next stage of the business’s growth.

Neil Mahapatra, Managing Partner of Kingsley, said: “Demand for fibre broadband is unprecedented and, with the UK currently ranking toward the bottom of the European league table in fibre penetration, market leading companies like ITL have an unprecedented opportunity for growth. We are very excited to be working with ITL’s leadership team to help the business deliver the kind of transformative change that will enable it to go further and faster”.

Peter Evans, founder and Managing Director of ITL, said: “Kingsley’s decision to partner with ITL recognises and vindicates the incredible work we have done and progress we have made. I am confident that our relationship with Kingsley marks a crucial new stage in ITL’s growth plans that will take us substantially further forward towards realising our vision of becoming the UK’s leading provider of end-to-end fibre deployment services”.

Financial terms of the transaction were not disclosed

Date posted: 01 July 2019
Article tag: Kingsley Capital Partners

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