Asset management firm Gresham House has invested Â£ 63million in Manchester internet service provider Telcom Group.
The money is coming from its British Strategic Investment Fund (BSIF) and will be used by Telcom to accelerate delivery of its fiber network in the North and Midlands.
âThe Telcom Board of Directors is delighted to be working with Gresham House at what is a pivotal moment in the evolution of the business as it will accelerate the planned deployment of broadband connectivity in all of our target markets. Said Christopher Baldock, Chairman of the Telcom Group.
The company was created in 2014 and operates through 3 brands: Telcom which targets commercial properties; ClearFibre for residential properties; WeFibre for social housing and rural housing estates.
It also has full fiber infrastructure through Telcom Infrastructure and infrastructure services through Pioneer.
âTelcom’s full-stack approach is very differentiated as it offers customers a truly tailored, technology-driven broadband service. As Telcom looks to expand its coverage, this should appeal to the many UK businesses that rely on good connectivity to operate efficiently, âsaid Peter Bachmann, Managing Director of Sustainable Infrastructure at Gresham House and OSFI Fund Manager.
âGiven its focus on urban units and multiple housing, the addition of Telcom to the Gresham House family of broadband providers also complements our investments in rural broadband providers and contributes to our greater effort. wide for greater digital inclusion across the UK. Reliable broadband infrastructure is needed to power the UK economy and enable increased social inclusion – through distance learning and working, and telehealth.