Zzoomm Merges with FullFibre to Create Major UK Altnet
Deal News | Mar 10, 2025 | EIN
Alternative broadband networks Zzoomm and FullFibre Limited have announced the completion of their merger, creating one of the largest altnet companies in the UK. The merger has received all necessary regulatory approvals and the combined entity will serve 600,000 premises and over 70,000 customers across England. Zzoomm, originally supported by significant capital including funds from Oaktree Capital and private investors, and FullFibre, backed by Basalt Infrastructure Partners, aim to leverage economies of scale for organic growth and operational efficiency. Matthew Hare of Zzoomm will take the role of Executive Chairman, while James Warner of FullFibre will become Group CEO. The merger positions the new entity well for further M&A activity in the fragmented broadband sector. However, the integration of the networks and customer bases may take time to complete, and funding for network expansion remains uncertain.
Sectors
- Telecommunications
- Private Equity
Geography
- United Kingdom – Both Zzoomm and FullFibre operate broadband networks within the UK, and the merger impacts the UK's telecommunications landscape.
Industry
- Telecommunications – The article discusses the merger of two broadband network companies that provide fibre optic internet services, a key part of the telecommunications industry.
- Private Equity – The merger involves companies backed by private equity firms, including Oaktree Capital and Basalt Infrastructure Partners.
Financials
- 224 million – Capital support for Zzoomm, including 100 million of bank debt, 12 million from private investors, and 112 million from Oaktree Capital.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Zzoomm | Target Company | Company | An alternative broadband network operator providing Fibre-to-the-Premises (FTTP) services. |
| FullFibre Limited | Target Company | Company | A broadband network operator known as Fibre Heroes, focusing on FTTP services. |
| Oaktree Capital | Private Equity Investor | Company | A global alternative investment management firm that supported Zzoomm. |
| Basalt Infrastructure Partners LLP | Private Equity Investor | Company | An investment firm providing backing for FullFibre Limited. |
| Matthew Hare | Executive Chairman | Person | CEO of Zzoomm, becoming Executive Chairman of the combined business. |
| James Warner | Group CEO | Person | CEO of FullFibre, appointed as the new Group CEO of the merged entity. |