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Gresham House announces £10.5m investment into Borderlink Broadband Limited
Press Release - 14 April 2021
Press Release - 14 April 2021
Gresham House is pleased to announce that it has made a £10.5m investment today into Borderlink Broadband Limited (Borderlink).
Borderlink is a Fixed Wireless Access and Fibre broadband operator serving business and residential customers across Scotland, Cumbria and Northumberland.
Borderlink is headquartered in the Scottish borders with depots and offices based at Berwick-Upon-Tweed, Kelso, and Carlisle respectively.
Borderlink’s current network focuses on rolling out high speed fibre broadband connectivity across five counties today, with the intention to grow more widely across Scotland and Northern England. The investment – through Gresham House’s British Strategic Investment Fund strategy (BSIF) – will be used in conjunction with the various Government schemes available to support this roll-out to significantly accelerate delivery of both rural and urban fibre and gigabit broadband networks. This will initially create 80 new skilled jobs.
Borderlink’s gigabit network is capable of delivering speeds of up to 10Gbps to each subscriber and is committed to the highest standards of customer service.
Borderlink believes passionately that gigabit Broadband brings digital inclusion and can transform people’s business and leisure activities and is proud to be transforming its local communities, steering them away from less effective or energy efficient copper-based internet.
The £340m BSIF strategy was established to invest specifically in the infrastructure and housing sectors, both identified by the UK Government as structurally important areas requiring local investment. As a closed-ended fund with a 12-year time horizon, BSIF invests with a long-term view into these important sectors. It targets an 8-10% annual net IRR including a minimum income yield of 5-6% per annum.1
Sustainable investing forms a key part of BSIF’s investment philosophy. As well as seeking superior, risk-adjusted returns, a positive social impact is a necessary requirement for every investment driving BSIF’s ability to generate a “double bottom-line” return for clients. BSIF’s other Sustainable Infrastructure investments provide real asset based solutions to environmental and societal challenges including energy storage, renewable energy and vertical farming.
John Seed, Borderlink Chairman, commented:
“We welcome the investment from Gresham House and we look forward to working together with them to transform Borderlink and to continuing to serve our local community with the highest standard of broadband connectivity.”
Alex Cacciamani, Founder and Chief Executive Officer commented:
“Borderlink is a young and ambitious company and we have been enormously impressed by Gresham House’s BSIF team and look forward to working with them in delivering our growth plans.”
Peter Bachmann, Managing Director, Sustainable Infrastructure at Gresham House and BSIF Fund Manager commented:
“Borderlink is an impressive company with a unique, technology driven approach that fits firmly into our central mission, which is delivering Sustainable Infrastructure throughout the UK. We are looking forward to supporting Alex and his team in delivering their ambitious plans.”
Stevie Ingamells, Associate Director, Sustainable Infrastructure at Gresham House said:
“Borderlink’s focus on digital inclusion for all, is aligned with BSIF’s key objectives to invest in businesses capable of making a meaningful economic and social impact. This is a very exciting time for the Borderlink team and we are hugely excited to be a part of their journey.”
- Investment Memorandum states 3-5% but 5-6% is based on current income projections once projects have stabilised and BSIF is fully invested. Targets only and not guaranteed.
For further information, please contact:
Charles Gorman / Camilla Esmund
+44 (0)20 3995 6699
+44 (0)1361 413 333
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