Telecoms business wired for growth after £6.5m funding boost

A Warrington provider of telecomms infrastructure, utilities lifting and mobile logistics is planning for expansion after a £6.5m funding fillip.

Commhoist has received the funding from Shawbrook to further expand its UK operations.

Founded in 1996, Commhoist has been involved in every mainland UK cellular network delivery and upgrade programme since its inception and is currently engaged in installing 5G across the UK.

In recent years, Commhoist has diversified its business model, expanding into infrastructure and alternative energy markets, in particular benefiting from the fast growing electric vehicle charging point roll-out.

The full terms of the deal include a confidential invoice discounting facility, worth £5m, which will be used to refinance an existing funding line, alongside a £1.5m injection of growth capita to support Commhoist’s further expansion within its core markets.

Shawbrook and Commhoist were introduced by Matt Tice and Hannah Kirkup of Key Capital Partners, a financial sponsor of Commhoist, who had an existing relationship with members of the Shawbrook team.

Emily Vernon, chief financial officer at Commhoist, said: “Underpinned by the established installation expertise we’ve built across the UK telecoms industry, this additional funding from Shawbrook will allow us to supercharge our expansion into complementary markets.”

Matt Tice, director at Key Capital Partners, said: “Commhoist has cemented its position as an industry leader in the field of telecommunications, and continues to play a very important part in the nations 5G roll-out.

“2023 marks our third year of investment in Commhoist and in that time we have seen the company excel and diversify into new markets. We have every confidence this trend will continue and thank Shawbrook for the vital role they play in facilitating this growth.”

Daniel Martin, director at Shawbrook, said: “The package we were able to supply the business with will not only allow the team to continue supplying the country with their services, but will also allow them to expand and diversify their business as they enter the electric vehicle sector.”

Gunner Cooke acted for Shawbrook and Clarion Solicitors acted for Commhoist.