Jamieson is pleased to announce that it has advised co-Founders Sasho Veselinski (CEO) and David Sangster (COO), and the wider management team of G.Network, the full fibre broadband operator, on its recent capital raise, including new equity investment by USS, the UK’s largest private pension scheme.
G.Network, plans to invest over £1bn in rolling out connectivity in London following a successful fundraise. The fundraise includes a new equity investment by USS with assets of up to £295m over 6 years; as well as debt secured from four banks of up to £745m, contingent on passing certain milestones.
G.Network digs streets to install brand new, state-of-the-art, contiguous full fibre broadband infrastructure in the capital, offering both residential and business customers ultra-fast speeds. In the next five years, G.Network plans to dig around 4,500km of streets, reaching approximately 1.4 million London premises, including many in underserved areas. The rollout is expected to create more than 1,250 new jobs, in addition to the c.a. 250 staff already employed by the Company, whilst bringing competitively-priced high speed broadband to residents and businesses.
John Greenland, Ross Wheeler, Laura Yell and Rowan Wright advised the management team as part of the transaction and on their new management equity incentive.