Our Corporate team has advised UK Altnet, Zzoomm Group, a rapidly growing full fibre business operator, on its merger with FullFibre, a wholesale full fibre network provider along with its in-house ISP retail company, BeFibre. The enlarged group will have one of the largest full fibre footprints with some 600,000 properties ready for service and over 65,000 customers, and will also be well positioned for further mergers and acquisitions (M&A).

The Corporate team advising Zzoomm Group was led by Senior Counsel Jeff Elway, supported by Principal Associate Alex Davidson and Associate Freddie Whittle. The merger is expected to complete towards the end of the first quarter of 2025.

The Banking team led by Legal Director Angela Rawlins, supported by Partner Nath Curtis and Associate Dan O'Donnell also advised on the extension of the Zzoomm Group's bank facilities to encompass the enlarged group.

Commenting on this latest transaction for Zzoomm Group, Jeff Elway said: "We're delighted to have acted for Zzoomm Group on this latest stage in the expansion of its business, having acted for Zzoomm Group since early in its existence and the investment committed to by its principal equity investor, OCM Luxembourg Fibre Holdings s.à r.l. (a company managed by Oaktree Capital Management LP), back in September 2020. The Altnet sector is a fragmented market and one that is going through a significant consolidation exercise at the moment, and we're delighted that Zzoomm Group has found a business like FullFibre to merge with, consistent with its stated strategy of growing organically or by M&A."

Ashurst LLP acted for Iris Infra, the principal equity investor in the Full Fibre business and a company managed by Basalt Infrastructure Partners LLP.  Weil, Gotshal & Manges LLP acted for OCM Luxembourg Fibre Holdings s.à r.l.