Grain Connect moves to the next level for UK full-fibre broadband installation programme
Grain Connect, part of Pinnacle Group and one of the leading providers of ultrafast broadband for new build homes across the UK, announces £10m (GBP) investment by the Albion Real Assets Fund, a newly raised fund managed by Albion Capital.
This latest phase of
investment by the Albion Real Asset Fund will enable Grain Connect to expand
its network and service offering, grow its team and capitalise on the latest
phase of new housing developments across the UK. Grain Connect will continue to
work with Pinnacle Group, its founding shareholder and long-term funding
partner, to further unlock opportunities to support communities across Pinnacle’s
UK portfolio. At the same time, Grain
has concluded an agreement with Solway Communications, its other founding
shareholder, for the acquisition of certain network assets from Solway, the transfer
of staff and expertise to Grain and the provision of services to Solway’s fixed
wireless business.
Rich Robinson, Managing Director of Grain
Connect said of the announcement: “We are delighted to announce the next phase of our growth and the integration
of the full end-to-end customer experience with Grain Connect’s operations. We
are committed to providing the highest quality of service in delivering full-fibre
broadband across the UK. Albion Capital understands the opportunities for the
UK communications sector and has a proven track record investing in
organisations that deliver for customers and shareholders. This investment
enables the Grain Connect team to consolidate its position as one of the
leading installers of full-fibre broadband in the UK, whilst retaining
flexibility for housebuilder clients and ensuring the highest level of service
for homeowners.”
Adam Chirkowski, Investment Director at Albion Capital added: “The opportunity to invest in the growth of one of the UK’s most exciting communications providers is highly exciting. Capitalising on the increasing demand for future-fit broadband services, Grain Connect is working to provide new housing developments nationwide with a resilient, high-quality broadband service that is meeting the needs of homeowners. Albion has been extremely active in the FTTP market, particularly investing in the growth of alt-nets to enable them to reach critical scale. Grain Connect’s dedication to every home, ensuring residents have the foundations and the choice to receive the best quality network for them is critical to the growth of the business and makes the investment an exciting next step in Albion’s fibre portfolio.”
Perry
Lloyd, Chief Executive of the Pinnacle Group, said of the investment: “At Pinnacle we are committed to working with communities across the
UK to deliver the highest quality of service through understanding the needs of
residents and adapting to changes in our modern world. This continued investment in Grain Connect
underlines our commitment to supporting the digital transformation of
communities, enabling them to benefit from the rapid improvements to broadband
technology. Through Grain Connect, we see strong synergies across the Pinnacle
Group businesses, unlocking opportunities to provide the essential services
that enable communities to make a space, their home.”