Deal is the Key to WHP Projects’ growth plan

KEY Capital Partners, the private equity firm focused on smaller buyouts, has led a £3m equity investment in WHP Projects.

WHP, which has a site in Wakefield, supports mobile operators in their moves to strengthen coverage across the UK. The business provides end-to-end services for the deployment, upgrade and maintenance of mobile network masts, antennae and base stations for operators such as Everything Everywhere, the owner of T-Mobile and Orange.

The deal was led by the Leeds office of KCP. 

As part of the transaction, Royal Bank of Scotland, led by Stuart Watson, director of the corporate transactions team, has in addition provided a term loan and a revolving credit facility to support future working capital requirements.

KCP’s investment will support WHP in capitalising on major imminent changes in the UK mobile phone market. All major operators are investing to support the rollout of the superfast 4G network and some are consolidating estates and sharing masts to improve coverage.
 
KCP partner Peter Armitage said: “WHP is operating in an exciting, fast-changing market. This investment leaves it perfectly positioned to capitalise on developments in the next three to five years, in particular the rollout of 4G across all major network providers.
 
“A key focus for the company following the investment will be supporting operators as they look to consolidate and grow their estates and we will be looking to increase WHP’s work share with all the major network providers. With its experienced team of surveyors and engineers, WHP has the expertise to exploit the organic opportunities in the market.”