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Wireless Infrastructure Group grows through two acquisitions

Wireless Infrastructure Group (“WIG”), in which 3i Infrastructure plc (“3i Infrastructure”) first invested in April 2016, has grown its presence in the UK and Irish markets through two acquisitions. In the UK, it has agreed to acquire Arqiva’s Indoor Networks business and, in Ireland, it has acquired Highpoint Communications Limited (“Highpoint”).

The purchase of Arqiva’s entire portfolio of Indoor Networks (or Distributed Antenna Systems, “DAS”) adds 42 networks across the UK, covering busy locations such as Canary Wharf, Luton Airport, Excel Centre and several shopping centres including Bluewater, Arndale and Meadowhall. The transaction builds on WIG’s market-leading presence in indoor, neutral-host infrastructure, expanding the size of its DAS business by around one-third. This acquisition is part of WIG’s strategy to help building owners and mobile operators improve mobile connectivity in work places, hotels, hospitals and retail and transport hubs. Indoor venues already served by WIG’s infrastructure include the Leadenhall Building, MediaCity, the Ned and the Savoy Hotels, intu Trafford Centre and Anfield Stadium.

Highpoint consists of a portfolio of 27 telecoms towers, and is an opportunity for WIG to build scale in its Irish business by more than doubling its existing presence.

In September 2018, WIG refinanced its debt facilities with long term institutional capital and a revolving capital expenditure facility that could be used to fund organic growth and acquisitions. Both acquisitions are expected to make use of the capital expenditure facility, without further equity investment by 3i Infrastructure.

Phil White, Managing Partner and Head of Infrastructure at 3i Investments plc, Investment Manager of 3i Infrastructure, commented: “One of the key attractions of our investment in WIG is that it is a high quality platform, which we expect to grow to help meet the ever-increasing demand for connectivity. These acquisitions, one in outdoor telecom towers and the other in a portfolio of indoor systems, demonstrate the WIG management team’s ability to identify and execute high quality follow-on investment”.


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For further information, contact:

 

Richard Laing

Chairman, 3i Infrastructure plc

+44 1534 847 410

Thomas Fodor

Investor enquiries

+44 20 7975 3469

Kathryn van der Kroft

Media enquiries

+44 20 7975 3021

 

Notes to editors:

 

About 3i Infrastructure plc

3i Infrastructure plc is a Jersey-incorporated, closed-ended investment company, listed on the London Stock Exchange and regulated by the Jersey Financial Services Commission. The Company is a long-term investor in infrastructure businesses and assets. The Company’s market focus is on economic infrastructure and greenfield projects in developed economies, principally in Europe, investing in operating businesses and projects which generate long-term yield and capital growth.

3i Investments plc, a wholly-owned subsidiary of 3i Group plc, is authorised and regulated in the UK by the Financial Conduct Authority and acts as Investment Manager of 3i Infrastructure plc.

 

About WIG

WIG is an independent wireless infrastructure operator and one of the UK’s larger digital infrastructure challengers.  The Company builds and operates communication towers (masts) in rural and suburban areas together with fibre-based networks to improve mobile coverage inside buildings, stadiums and on city streets.  The company is fully independent of any network operator and invests in higher capacity ‘neutral-host’ infrastructure that is made available to all mobile and wireless networks to use on an open and shared basis. Following its launch over ten years ago, WIG has invested in over 2,000 shared communications assets across the UK. The Company is headquartered in Edinburgh with key operational hubs in Solihull and Bellshill. 

 

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