BDB acts for County Broadband on £46 million investment
Bircham Dyson Bell (BDB) has acted for County Broadband in connection with a transformational investment from Aviva Investors through their infrastructure equity platform, who were represented by CMS.
County Broadband has been operating for several years, delivering internet services to under-served rural areas in the East of England. The transaction involved an investment totalling up to £46 million, which will provide them with sufficient funding to accelerate their expansion strategy and service thousands of homes in Essex and the surrounding counties. Aviva Investors will assist current management with building on its existing infrastructure and brand.
The BDB team acting on the transaction was led by corporate partner Philip Lamb and senior associate Robert Chidley, assisted by solicitor Caroline Carter. IP advice was provided by partner Dennis Lee and construction and projects advice by consultant Karen Kirkham.
Lloyd Felton, CEO of County Broadband, said:
‘This is a significant moment for County Broadband, as we enter the next phase of our development towards becoming a major network provider in the East of England. Working with BDB was an entirely positive experience. They were right by our side and were pivotal in supporting a multifaceted requirement across all aspects of what at times became a very complex negotiation. What stood out most was their incredible work ethic and that the commercial objectives were never lost in the myriad of details. At no time did we ever feel our best interests were not at the centre of Philip and his team’s objectives.’
Philip Lamb, partner at BDB, comments:
‘BDB are delighted to have assisted County Broadband in successfully completing this transformational deal. BDB’s expertise in being able to provide advice encompassing all elements of the deal meant that we achieved a position that gives our client the confidence and clarity to progress and expand alongside Aviva Investors. Having developed a strong relationship with the client, we look forward to supporting their continued success in the future.’