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!
The business was established and considerably improved by the present owner more than 12 years ago and is being reluctantly sold as the owner wants to take some time out after the demands of the past few years.
LEASEHOLD
This well-regarded and relocatable Consultancy & Investment business has now come to the open market.
Established in 2024, this unique Music business is now for sale. This is a promising opportunity for a buyer due to the strong foundations set by the current owner.
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
25
|
Apr
|
Tile business old to management team by Norcros | MBO/MBI
Johnson Tiles UK, a tile business based in Stoke-on-Trent, h...
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.