Mon, 26 Apr 2021 | BUSINESS SALE
BigBlu Broadband has sold its stake in Quickline Communications to Northleaf Capital Partners in a deal that could reach up to £49 million.
BigBlu said that the deal offered an “excellent return for shareholders”, with the sale potentially rising to 5.8x the firm's original investment in Quickline and offering both a continuing interest in the future of the business as well as a considerable immediate cash return.
The sale includes a £41.2 million cash consideration, with £31.1 million of this payable on completion and £10.1 million payable through a deferred consideration subject to performance-related goals being met by 31 March 2022 or 31 May 2022.
The remainder will be settled through £7.4 million in loan notes, £5.6 million payable on completion, with £1.8 million in deferred consideration. The loan notes come with options to convert into partial equity which, if exercised, would see BigBlu retain an 8 per cent stake in Quickline.
BigBlu CEO Andrew Walwyn commented on the sale: “The management team has extensive experience in the sector and a track record of building attractive assets and delivering shareholder value.”
“Through the sale of Quickline, Bigblu Broadband has once again demonstrated its ability to maximise the value of its interests in the high growth broadband connectivity market. This is now the second time that the Board has realised excellent returns for shareholders.”
Northleaf Head of Infrastructure Activities UK Roderick Gadsby added: We are pleased to have agreed to acquire Quickline as the company is an excellent fit with our communications infrastructure strategy and our broader portfolio of mid-market infrastructure assets in select OECD countries.”
“We look forward to working closely with the management team as they execute the business plan and accelerate the delivery of gigabit capable fixed wireless and FTTP services to underserved rural regions of the UK.”
Find businesses for sale here.
If you are looking for an exit, we can help!
Unlike similar HR SaaS businesses, the company differentiates itself through its configurability and add-on modules offering a complete people performance solution. This maximises retention and upsell opportunities with 6 different SaaS modules inclu...
Long-established and highly regarded Ltd Co with impressive national/international reputation and client base. The company offers a one stop design-to-commissioning service of state-of-the-art fire, intruder alarm, and CCTV systems.
An opportunity has arisen to purchase a Managed Service Provider (MSP) and IT consultancy based in Southeast England. The company is well-established, with a trading record spanning over 25 years.
28
|
Mar
|
NI pharmacy group acquires third site | BUSINESS SALE
A family-run community pharmacy group has expanded with the ...
28
|
Mar
|
Vehicle upcycling group falls into administration | ADMINISTRATION
Lunaz Group Limited, a vehicle electrification and upcycling...
28
|
Mar
|
Food service business acquired at more than 10x profits | BUSINESS SALE
Total Foodservice, a wholesale catering supplies business, h...
11
|
Jun
|
BigBlu completes Quickline disposal | BUSINESS SALE
Bicester-based rural broadband provider BigBlu Broadband has...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
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.