Fri, 11 Jun 2021 | BUSINESS SALE
Bicester-based rural broadband provider BigBlu Broadband has completed its exit from Quickline by selling its holding in the firm to Northleaf Capital Partners.
The sale could potentially rise to £48.6 million, which would represent around a 5.8x return on BigBlu’s original investment in Quickline.
Through the deal, BigBlu has secured an initial cash consideration of £31.1 million, with £10.1 million in deferred payments. On top of this, the firm will receive £7.4 million in loan notes, £5.6 million of which have been satisfied upon the deal’s completion, with £1.8 million deferred.
When the deal was initially announced in April, it was revealed that the loan notes would come with options for them to be converted into partial equity. If these options are exercised, BigBlu could retain a stake of up to 8 per cent in Quickline.
Following the completion of the stake disposal, BigBlu Broadband Chief Executive Andrew Walwyn commented: "We are delighted to have completed the transaction, which provides a significant return on investment and strengthens our balance sheet at the same time as further validating the value proposition of our buy and build strategy."
The Quickline disposal follows BigBlu’s £38 million sale of its European satellite broadband activities to Eutelsat Communications in September 2020.
Find businesses for sale here.
If you are looking for an exit, we can help!
Operating internationally, the company offers the development, hosting, and maintenance of electronic document management software. The business provides maintenance contracts, licences, installation, and training for its software.
This well-established business excels in resin floor installation and repairs, alongside additional services like stainless steel drainage installations, catering to diverse sectors including engineering, aerospace, and healthcare across South West E...
The companies supply an array of gases to suit various applications, with the group’s offering comprising all types of argon, oxygen, acetylene, nitrogen, carbon dioxide, refrigerant gases, propane and butane.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.