F&W Networks Ltd (“F&W Networks” or “the Company”), the full fibre network infrastructure company, today announced that Foresight Group LLP (“Foresight”), the sustainability-led, listed alternative investment manager, has completed a significant investment into F&W Networks. This investment will allow F&W Networks to accelerate the roll-out of its full-fibre-to-the-premise network and expand broadband connectivity in the South of England.
F&W Networks is currently building fibre-to-the-premises infrastructure in 21 communities in the South of England, including Surrey, Oxfordshire, Buckinghamshire, Hertfordshire, Greater London and West Sussex. A total of 185,000 premises already benefit from access to the Company’s gigabit speeds and network reliability.
In July, F&W Networks announced it had received funding of £25m from Santander to extend its full fibre roll-out and has made significant progress in the Home Counties. This new investment from Foresight further demonstrates investor confidence in the Company and will allow F&W Networks to accelerate its ambition to pass 1 million properties by 2025.
Carlos Bock, Executive Chairman of F&W Networks, said: “We are extremely pleased to announce Foresight’s investment in F&W Networks; this endorsement by Foresight is a significant testament to the management team and the Company. We are focussing on delivering next-generation digital infrastructure in the UK, and this partnership, with Foresight’s infrastructure investment capacities, will provide us with the ability to rapidly scale our roll-out.”
Commenting on the investment, Anouska Morjaria, Senior Investment Manager at Foresight said: “This investment is further testament to Foresight’s confidence and commitment to the fibre broadband sector. We are delighted to be making another investment and look forward to working with F&W Networks to help increase the roll out of its full-fibre-to-the-premise network, connecting businesses and homes to high-speed quality internet.”
The UK Government has committed to bringing gigabit-capable broadband to every home in the UK by the end of 2025. Currently, only 33%* of UK households have access to full fibre connectivity. F&W Networks has experience in planning and deploying open-access, full fibre networks with a consistent deployment capacity, and is already efficiently addressing the connectivity needs of the UK. This partnership will accelerate deployment as the build program continues.