Freeths advises on high-profile broadband merger

The private equity group at national law firm Freeths has advised the Substantial Group management team, the ultra-fast full fibre broadband provider, on its merger with Brsk in a deal that marks the largest consolidation of alternative network providers. 

Netomnia has raised £795.5m of investment in the space of just three years via Advencap, DigitalBridge and Soho Square. The newly merged group will have a combined network footprint of 1.5 million premises and a customer base of 140,000, with a target of reaching 3 million premises by the end of 2025.

The Freeths team was led by M&A and Private Equity partner, Malin Svanberg Larsson, supported by Charlotte Hartwright (senior associate), Ellie Harrison (associate) and Dean Kansu (trainee solicitor). 

Commenting on the deal, Malin Svanberg Larsson said: “We are delighted to work with Jeremy, Wil and the whole Substantial Group team on this exciting transaction, developing our strong relationship already gained being incumbent in the group portfolio. This transaction demonstrates Freeths’ strength, expertise and capability to support private equity backed businesses on their growth journey.”

Jeremy Chelot, Founder and CEO of Netomnia and Youfibre added: “The Freeths team, led by Malin Svanberg Larsson, have been hugely impressive, consistently providing strategic, commercial advice to ensure the transaction was successfully delivered against a sharp timetable.”