KKR acquires a majority stake in Hyperoptic to scale UK network coverage.
KKR takes control of the residential gigabit broadband provider from Newlight Partners and Mubadala Investment Company.
Hyperoptic is the United Kingdom's largest residential gigabit broadband provider, operating a full fibre network across numerous towns and cities. The firm delivers high-speed internet connections directly to homes and commercial properties.
Global investment firm KKR has acquired a majority stake in Hyperoptic from exiting backers Newlight Partners and Mubadala Investment Company. Financial terms of the transaction were not disclosed.
The broadband provider will continue under the leadership of chief executive Dana Tobak and executive chairman Boris Ivanovic. The fresh backing aims to support the company as it scales its infrastructure reach across the country.
Hyperoptic currently passes nearly 400,000 homes and businesses across 43 towns and cities. Management targets an expansion of its network to two million properties by 2021 and five million by 2024.
From the founder
"We are incredibly grateful to Newlight and Mubadala for their unwavering support and significant contributions to the success of Hyperoptic. Currently, only 8% of the UK has access to full fibre and less than half of that to symmetrical gigabit services. We are confident that with the support of KKR and their significant expertise enabling high-growth businesses, our ambitious infrastructure plans to build our hyperfast network out to two million homes by 2021 and five million by 2024 will be realised."
Dana Tobak
Chief Executive Officer at Hyperoptic
Investor perspective
"Hyperoptic has a market-leading position and superior consumer product. The business is strongly positioned to meet the growing demand for full-fibre services in the UK through further investment and national roll-out, supporting housing development and renovation. Our investment in Hyperoptic builds on KKR’s strong track record in telecommunications infrastructure in Europe, investing in and deploying next-generation digital connectivity."
Vincent Policard
Member, KKR
Use of funds
- 01Build out infrastructure
- 02Expand into international markets
Investors
Categories
About the company
Hyperoptic
Hyperoptic operates a full fibre network delivering gigabit broadband services across the United Kingdom.