Gowling WLG advises on £75 million investment for fibre-optic internet access services provider

2 minute read
13 August 2021

Gowling WLG has advised internet access services provider Grain Connect Limited in relation to an aggregate £75 million investment (equity and a shareholder loan facility) from Equitix, a leading investor in European infrastructure. Grain Connect plans to extend its footprint to cover an initial 300,000 homes and businesses across Great Britain, with a focus on both new-build housing developments and existing urban housing.

The team from Gowling WLG was made up of a mix of sector and service advice with corporate partner Jeffrey Elway, leading, assisted by principal associate Alex Davidson and trainee Rachel Bright on the main corporate side. Partner Zoe Fatchen and principal associate Tom Rank advised on share options and the management incentive arrangements, while partner Nath Curtis and associate Paul Maxey advised on security for the shareholder loan facility. Finally, partner Clive Chalkley, senior associates David Wigy and Tom Walsh alongside paralegals Annie O'Sullivan and Roxanne Watson advised on Telecoms Code powers and wayleaves advice.

Commenting, Jeffrey Elway said: "It has been a pleasure to have brought such a wide remit of advice to bear on this important financial milestone for Grain Connect. We look forward to seeing their ambitious plans coming to fruition and working alongside them in the future."

Gowling WLG has a long and successful track record of advising broadband network builders and service providers such as Zzoomm, toob, G.Network Communications, Gigaclear, Wightfibre and Hyperoptic – helping to facilitate major investments, lending and new network agreements as well as providing other essential legal support.

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