Fri, 11 Jun 2021 | BUSINESS SALE
Bicester-based rural broadband provider BigBlu Broadband has completed its exit from Quickline by selling its holding in the firm to Northleaf Capital Partners.
The sale could potentially rise to £48.6 million, which would represent around a 5.8x return on BigBlu’s original investment in Quickline.
Through the deal, BigBlu has secured an initial cash consideration of £31.1 million, with £10.1 million in deferred payments. On top of this, the firm will receive £7.4 million in loan notes, £5.6 million of which have been satisfied upon the deal’s completion, with £1.8 million deferred.
When the deal was initially announced in April, it was revealed that the loan notes would come with options for them to be converted into partial equity. If these options are exercised, BigBlu could retain a stake of up to 8 per cent in Quickline.
Following the completion of the stake disposal, BigBlu Broadband Chief Executive Andrew Walwyn commented: "We are delighted to have completed the transaction, which provides a significant return on investment and strengthens our balance sheet at the same time as further validating the value proposition of our buy and build strategy."
The Quickline disposal follows BigBlu’s £38 million sale of its European satellite broadband activities to Eutelsat Communications in September 2020.
Find businesses for sale here.
If you are looking for an exit, we can help!
A rare opportunity to acquire this four-in-one highly profitable business which consists of a butchers, a delicatessen, a breakfast/sandwich and hot food bar, a coffee lounge and off-licence selling local ciders, beers and wines.
LEASEHOLD
This butchery offers an excellent opportunity for a first auspicious purchase or to add to an existing business. The business has been owned and operated by the current vendor's family since 1959.
LEASEHOLD
Provides dedicated logistic solutions for deliveries across Manchester and surrounding areas. A fantastic opportunity for buyers looking to expand upon an already profitable business.
LEASEHOLD
22
|
Sep
|
Logistics firm falls into administration amid industry pressures | ADMINISTRATION
Selazar Ltd, a Belfast-headquartered logistics operator with...
22
|
Sep
|
JD Wetherspoon announces latest portfolio of pubs for sale | COMMERCIAL PROPERTY
Pub giant JD Wetherspoon has announced the latest portfolio ...
22
|
Sep
|
Irwin Mitchell strengthens northern presence with latest acquisition | BUSINESS SALE
Irwin Mitchell has acquired a family law firm with operation...
26
|
Apr
|
BigBlu makes potential £49m exit from Quickline | BUSINESS SALE
BigBlu Broadband has sold its stake in Quickline Communicati...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.