New investors supercharge London alt-net with £400mn programme

With Warburg Pincus and DTCP acquiring the controlling stake in London fibre broadband company Community Fibre, a £400 million investment has been promised for the city.

Although Community Fibre’s market share and subscriber figures are not the most attractive for the moment, the cash injection is coming at a very appropriate time. Thanks to the shift in working dynamics during the COVID-19 lockdown, more consumers are likely to consider fibre broadband should the world-from-home trends continue.

Alongside existing investors Amber Infrastructure and RPMI Railpen, Warburg Pincus and DTCP will help Community Fibre drive towards the objective of delivering 1 Gbps of full-fibre broadband to one million households by 2023.

“This is an exciting deal for Community Fibre,” said Graeme Oxby, CEO of Community Fibre. “Having Warburg Pincus and DTCP on board is a tremendous endorsement for our business. In a post COVID-19 world, digital connectivity will be more crucial than ever. With further new investment, we can work faster than ever to deliver 100% full-fibre broadband to social housing residents and to local communities and their businesses across London.”

Interestingly enough, once the transaction is complete Community Fibre will welcome Olaf Swantee as Executive Chairman. Having recently served as CEO of Sunrise Communications in Switzerland and CEO of EE prior to that, there certainly is some industry knowledge coming on board.

“I am excited to be joining a business in a sector that I am passionate about, where there is a clear vision and purpose,” said Swantee. “Working alongside blue chip investors such as Warburg Pincus, DTCP, Amber Infrastructure, and RPMI Railpen, will also open up new and exciting growth opportunities.”