Fieldfisher completes sale of in-building wireless provider to US private equity fund
Law firm Fieldfisher’s Manchester office has advised the selling shareholders of established in-building wireless provider Opencell, with corporate partner Tom Ward heading up the team.
Opencell, based near High Wycombe, provides multi-operator indoor coverage for a variety of customers, building types and sizes.
It currently has more than 2,000 live cells across 100 networks and benefits from strong relationships with all four UK mobile network operators.
US-based Digital Colony plans to combine Opencell with Stratto, a provider of premium DAS and small cell networks for indoor mobile coverage in the UK.
Opencell’s owners/management will become shareholders in the combined company, while Digital Colony will remain the majority shareholder.
Digital Colony is a global investment firm, focused on investing in the mobile and internet infrastructure landscape worldwide.
Its strategic investments help meet the growing demand for digital infrastructure capacity and this particular acquisition will further this ambition.
Combining the two complementary businesses will allow both Stratto and Opencell to grow and deliver a broader service to a wider audience.
Fieldfisher’s Manchester office boasts a growing corporate team, led by David Bowcock who joined the firm earlier this year.
Tom Ward, who relocated from Fieldfisher’s London team to the Manchester office earlier this year, is particularly known for TMT-focused M&A work, and has continued to work on deals in this sector in the region, including EY’s recent acquisition of tech-enabled legal services firm Riverview Law.
Tom Ward, Fieldfisher corporate partner, said: “We’re delighted to have advised selling shareholders and managers on this transaction.
“The team has quickly built an excellent reputation for small cell wireless solutions and in Stratto and Digital Colony they have compelling partners for further growth and ongoing success. We wish them all the best.”
Graham Payne, Opencell chief executive, said: “In a world where constant network connectivity is increasingly a must-have service, the need for strong indoor mobile coverage solutions is growing and the combined experience of Opencell and Stratto, along with Digital Colony’s operational execution track record, will allow us to deliver more solutions.
“I would like to thank all of the Fieldfisher team for their insight, expertise and dedication on this transaction.”
Saffrey Champness served as financial advisor to the selling shareholders.
Morgan, Lewis & Bockius LLP served as legal advisor to Stratto and Digital Colony.
