FullFibre, a wholesale full fibre network provider along with its in-house ISP retail company, BeFibre, and Zzoomm, an established and rapidly growing full fibre business operator, have agreed to merge.
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 M&A.
The merged business will be able to accelerate growth, enhance operational efficiency and lead on further M&A across the fragmented Altnet sector.
Matthew Hare, CEO of Zzoomm, will become Executive Chairman and James Warner, CEO of FullFibre, will be Group CEO.
The management teams from both companies have proven track records. They have the relevant experience, expertise and resources to lead and develop the enlarged group faster, providing outstanding broadband services to consumers, businesses and wholesale markets.
The merged entity combines two complementary networks and operating models. This will create significant opportunities to accelerate customer growth across a larger footprint, secure funding for new builds and future mergers, and achieve greater operational and financial efficiencies through economies of scale.
Additionally, the partnership will enhance wholesale services for internet service providers (ISPs), unlocking valuable new revenue streams.
The merger is subject to final documentation execution and regulatory approval, expected early in 2025.
Matthew Hare, CEO of Zzoomm, commented:
“With our clear focus on serving happy customers with brilliant broadband, Zzoomm has delivered for a number of years industry leading organic growth across its network.
“We have consistently stated our strategy is to grow organically and by M&A in this fragmented market.
“An enlarged business with the operational and financial infrastructure, benefitting from the economies of scale, as well as a management team with an exceptional track record, we will have an excellent platform to combine with other Altnets in the near future as well as driving organic growth faster.”
James Warner, CEO of FullFibre, commented:
“This merger represents another significant step in our journey. With a shared commitment to delivering transformational full fibre connectivity with exceptional customer experience, this deal strengthens our collective ability to grow even faster and seize new market opportunities.
“For FullFibre, this is our second merger and another milestone in our mission to create a 21st-century digital backbone for the nation. Following our recent successful integration with Digital Infrastructure and BeFibre, this next merger further accelerates our ambitions to lead the market and provide unmatched connectivity to homes, businesses, and wholesale partners alike.”
For more information contact
| Zzoomm Matthew Hare | c/o Meare Consulting |
| FullFibre James Warner | c/o The Bigger Boat |
| Meare Consulting (PR for Zzoomm) Adrian Duffield | 07990 858548 |
| The Bigger Boat (PR for FullFibre) Ellie Ismail | 07824 722876 ellie@thebiggerboat.co.uk |
Note to editors
Zzoomm
Zzoomm (www.zzoommgroup.com) is an established and rapidly growing full fibre network operator, providing Fibre to the Premises (FTTP) to underserved market towns where there is minimal or no existing access to a full fibre network.
Zzoomm is now operating across 29 market towns and small urban communities in England and as a standout challenger brand is synonymous with excellent customer service, quality of service and product reliability. Zzoomm has more than 30,000 contracted customers and more than 200,000 ready for service properties
Zzoomm, which is backed by funds managed and advised by Oaktree Capital Management, L.P., is headquartered in Oxford.
FullFibre
FullFibre (www.fullfibre.co) is a wholesale network operator with 400,000 ready for service premises providing Fibre To The Premises (FTTP) services through a growing list of ISP partners, including its own in-house ISP BeFibre (Be-fibre.co.uk).
FullFibre operates across 81 market towns and small urban communities in England. The company is known for building high quality capital efficient networks on an open access basis, providing consumer choice into underserved market towns.
FullFibre, which is backed by funds managed and advised by Basalt Infrastructure Partners LLP, is headquartered in Exeter.
Basalt Infrastructure Partners
Basalt Infrastructure Partners LLP (“Basalt”) is investment adviser to certain infrastructure equity investment funds focusing on mid-market investments in utilities, power, transport, and digital infrastructure in North America and Europe. Current investments by the Basalt funds in Europe include Wightlink, Mareccio Energia, Caronte & Tourist, Manx Telecom, Connect Fibre, Unilode, Goetel, Freya LNG, Nobina, Reconor Group and Vanadis LNG.
For more information, please visit www.basaltinfra.com
Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments, with $205 billion in assets under management as of September 30, 2024. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate. The firm has more than 1,200 employees and offices in 23 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.
