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Thursday, 07 February 2008 |
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UK broadband sewer group acquired by Alchemy in £62 million deal…
Geo, a
UK company that runs a broadband fibre network in part through
London’s sewerage system, has been acquired by private equity group the Alchemy Investment Plan from the Hutchison Whampoa Group.
Alchemy has paid £62mn to buy the company. Managing partner of Alchemy’s
London adviser Jon Moulton has said he was attracted to Geo by its innovative business model, high quality bespoke services and excellent track record.
“It is in a unique position in a sector full of ‘me too’ operators,” he says. Alchemy apparently believes a key Geo strength is its focus on the fastest growing and most valuable part of the telecommunications market – the provision of data services. In addition, Moulton says he values Geo’s focus on its target customers – the largest organisations in the
UK – and believes that the company’s bespoke solutions, based on dedicated optical fibre, are the most appropriate way of addressing this demanding market.
“Geo owns the highest quality, diverse optical fibre networks in the
UK and has an excellent reputation for winning and delivering complex projects,” adds Moulton. “In addition, it is profitable after just three years of operations and has a highly capable management team and workforce.”
John Williamson |
