Maven Capital Partners, one of the UK’s leading private equity houses, has announced in Dec 2017 a further £1million investment in ITS from the Northern Powerhouse Investment Fund.
This latest investment is part of the £4.25m facility provided by Maven and follows the £2.25million invested in June 2017. £1m of the facility still remains and this is expected to be made available in March 2018.
The investment will be used to continue to expand the ITS fibre network and to further strengthen the sales and operational capabilities of the business.
This investment firmly positions Maven as ITS’ biggest shareholder, with a shareholding of 27%. Maven continue to be supportive of ITS and its growth strategy.
“We are delighted that Maven continue to invest and show great support to the company. It is an exciting time for all involved, as ITS continues to develop its national networks, monetise its exclusive concession agreements with local authorities across the UK and deliver ultrafast, uncontended leased lines to businesses in some of the leading cities in the UK.”Daren Baythorpe, newly appointed CEO of ITS