Netomnia and YouFibre secure further £295m funding led by DigitalBridge

Rapidly growing fibre businesses to serve increasing demand for ultrafast and reliable broadband access across the UK

TEWKESBURY, England, April 8, 2022 /PRNewswire/ -- Netomnia, a provider of full fibre broadband infrastructure, and internet service provider YouFibre (collectively, the "Group") have secured £295 million in new funding led by DigitalBridge Investment Management ("DigitalBridge"), the investment management platform of DigitalBridge Group, Inc. (NYSE: DBRG). DigitalBridge's equity investment will come alongside follow-on commitments from existing shareholders Soho Square Capital LLP and Advencap Limited.

Founded by CEO Jeremy Chelot, who has a strong track record in the full fibre network sector, Netomnia is committed to delivering a multi-gigabit broadband network across the UK. The Group has achieved more than 130,000 premises passed since rollout commenced in 2020. Working in partnership with major UK construction companies, the Group has a lean and scalable operating model that enables it to achieve swift deployment.

Mr. Chelot said: "We are thrilled to partner with DigitalBridge and benefit from their support and industry expertise as we work towards our target of one million premises passed in the next two years. We are scaling rapidly and aim to play an active role in unleashing the UK's digital potential by delivering the benefits that come with multi-gigabit fibre broadband."

Manjari Govada, Principal at DigitalBridge, said: "We have known Jeremy for several years and are excited to partner with him in scaling the Group into a premier fibre-to-the-premises (FTTP) provider in the UK. We have been highly impressed with the growth of the business and the best-in-class team he has assembled."

The transaction is expected to close in the second quarter of 2022, subject to regulatory approvals and customary closing conditions.

Vinson & Elkins L.L.P. served as legal counsel to DigitalBridge and Stephenson Harwood LLP advised The Group and the existing shareholders in connection with the transaction. The Group was advised by independent investment bank Greenhill.

Notes to Editors 

Netomnia 

Netomnia is developing full-fibre infrastructure, utilising innovative technology and agile deployment, to bring ultrafast broadband to under-served towns and cities across the UK. Founded in 2019, Netomnia is investing in rapidly building a high-quality multi-gigabit network for UK homes and businesses. 

Netomnia makes wholesale connectivity available to service providers, including YouFibre, which delivers the UK's fastest broadband packages of up to 10 Gbps to customers. 

YouFibre 

YouFibre is a full fibre broadband provider that offers its customers speeds of up to 10 Gbps, 126 times faster than the UK average. Founded in 2019, YouFibre aims to bring ultrafast internet connection to its customers at an affordable price. 

YouFibre runs on fibre-optic cables to deliver broadband direct to properties, providing faster, more reliable speeds and service than copper-based networks used by many broadband providers, providing a future-proofed network for centuries to come. 

About DigitalBridge

DigitalBridge (NYSE: DBRG) is a leading global digital infrastructure REIT. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages a $45 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders. Headquartered in Boca Raton, DigitalBridge has key offices in New York, Los Angeles, London, and Singapore. For more information, visit: www.digitalbridge.com.

About Soho Square Capital LLP

Soho Square Capital is an investment firm focused on providing flexible capital solutions, typically in the form of senior or preferred capital with minority equity stakes, to established and growing UK and European SMEs. Headquartered in London, the firm is led by a highly experienced team that has been investing together for over 15 years, through many economic cycles and have the expertise and flexibility to invest up to £45 million in any given transaction, across the capital structure, from senior debt to equity. The team works closely with business owners and management teams to structure innovative, bespoke financing solutions and offer enhanced portfolio company support. www.soho-sq.com

About Advencap Limited

Advencap is an experienced early-stage digital infrastructure investor. The Advencap team consists of ex-founders, operators and investment bankers who have significant experience operating and investing in the digital infrastructure industry. This unique blend of knowledge, skills, network, and capital allows Advencap to locate unique early-stage investment opportunities, partner with management and support its investee companies in their evolution. Advencap has key operations in Southern Africa and the United Kingdom. 

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