ITS, the UK’s leading business fibre network provider, has secured £100 million of debt financing from global investment firm Avenue Capital Group

Together with the significant existing facility provided by Aviva Investors, this investment further underpins the delivery of ITS’ growth target for its full fibre Faster Britain network to pass 50% of the UK’s commercial business premises. The £100 million of funding will also be available alongside the existing facility to finance strategic M&A activity.

Following strong growth over the past five years, ITS has established itself as a national full fibre infrastructure operator, building a robust, reliable network with industry leading technology, bringing a gigabit-capable full fibre network to UK businesses.

ITS’ infrastructure supports symmetrical services up to 10Gbps using XGS-PON technology, providing an open access network to more than 500 partners in the UK, and supports some of the UK’s most progressive business and public sector bodies.

Daren Baythorpe, Chief Executive Officer at ITS, said: “We’re really excited to welcome our new investor, Avenue Capital Group. This additional funding recognises the strength in our business plan as we continue to expand our network as the fibre market adapts to changing technology and undergoes consolidation.

Jonathan Ford, Senior Portfolio Manager and Head of Europe Strategy at Avenue Capital, said: “We’re delighted to be supporting ITS’ business-to-business fibre rollout in the UK. The company’s management team not only has very deep industry relationships to execute on their business plan, but it has also coupled it with a strong delivery track record. This funding fits well with our European strategy of investing in high quality companies with sustainable business models.”

Darryl Murphy, Head of Infrastructure, Aviva Investors, said: “It is encouraging to have secured funding into ITS from Avenue Capital which, alongside existing investments made by Aviva Investors, will enable the business to maximise its potential… as part of a critical sector for delivering the UK’s digital evolution.”

Marcus Harrison, Faster Britain Ambassador for the Midlands added that the investment is great news for the future expansion of the Faster Britain business networks. This investment allows ITS to meet some of the most pressing local authority and growing business needs including attracting inward investment and playing our part in digital transformation.