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Macquarie Capital, Voneus team up for rural UK broadband provision

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Macquarie Capital is investing £10 million in rural broadband company, Voneus, with the potential to invest up to £30 million in the future. Proceeds will be used to re-finance debt and support the roll out of further high-speed broadband to communities in rural parts of the UK. 

Voneus will focus on the 900,000 homes across the UK countryside that don’t have access to Superfast broadband services. The company has, since its inception, installed superfast broadband in around 4,000 homes and businesses in 25 rural communities with a footprint that covers Lancashire and Yorkshire as well as the Cotswolds and Devon. There is a robust pipeline of future projects in place, which will be supported by this ongoing investment. The business uses Fixed Wireless Access (FWA) technology to provide superfast broadband (30 to 50 Mb/s) to rural homes and businesses.

Macquarie has invested and arranged more than £40 billion in infrastructure projects since 2005. The company specialises in infrastructure development with £18 billion currently under construction or development globally.

Steve Leighton, CEO of Voneus said: ‘Not only will [the investment] help us speed up the roll-out of fixed wireless services in hard-to-reach communities, it means that – longer term – we will be able to add full fibre broadband to our portfolio; this will be a complete game-changer for these hitherto neglected areas.’ 

Oliver Bradley, managing director, who led the transaction for Macquarie Capital said: ‘The roll-out of superfast and ultrafast broadband has too often focused on the UK’s urban centres – leaving untapped investment requirements in the UK’s rural communities. We believe that using Macquarie Capital’s unique principal investment and development expertise there is a significant opportunity to work with Voneus to accelerate the deployment of UK rural broadband, this will help unlock significant economic and social benefits for the UK.’

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