KKR grabs majority stake in Hyperoptic

15 Oct 2019

Private investment firm KKR has announced its acquisition of a majority stake in UK-based pure fibre provider Hyperoptic, from funds managed by Newlight Partners and Mubadala Investment Company. The investment is being made through KKR’s Global Infrastructure Investors Fund III, while LionTree Advisors reportedly acted as the exclusive financial advisor to Hyperoptic and the selling shareholders in connection with the transaction. No financial details were disclosed.

Commenting on the deal, Vincent Policard, Member, and Cristina Gonzalez, Director in European Infrastructure at KKR, said: ‘Hyperoptic has a market-leading position and superior consumer product. The business is strongly positioned to meet the growing demand for full-fibre services in the UK through further investment and national rollout, supporting housing development and renovation. Our investment in Hyperoptic builds on KKR’s strong track record in telecommunications infrastructure in Europe, investing in and deploying next-generation digital connectivity.’

In the wake of the deal, Hyperoptic – which was founded in 2011 and has a full fibre network covering around 400,000 premises across 43 towns and cities – will continue to be led by CEO Dana Tobak and Executive Chairman Boris Ivanovic. The operator is aiming to expand the coverage of its fibre infrastructure to two million premises by 2021, rising to five million by 2024.

United Kingdom, Hyperoptic, Kohlberg Kravis Roberts & Co (KKR)