International law firm CMS has advised Infracapital, one of Europe’s leading infrastructure investors, on an offer for pure fibre provider Gigaclear plc (“Gigaclear”) made by funds managed by Infracapital. When aggregated with Gigaclear shares previously held, the acceptances received by the first closing date led to Infracapital (GC) SLP LP holding approximately 78% of Gigaclear’s issued share capital. The offer valued Gigaclear at approximately £270m.
Gigaclear was founded in 2010 and operates fibre networks in English counties including Essex, Cambridgeshire, and Oxfordshire. Infracapital has been a supporter of Gigaclear and its management team since its initial investment in 2015 in which it took a 43.2% stake. Infracapital will continue to work with the Gigaclear team and its other shareholders to help Gigaclear deliver its vision of bringing ultrafast, full-fibre connectivity to rural Britain.
The CMS team was led by Corporate Partner Simon Morgan, with support from Of Counsel Kate Blumhof, Senior Associate Cathy Wears and Associate Kieran O’Brien.