Telcom Group spreads geographical footprint with London acquisition

Telcom Group, the Manchester-based full fibre, full stack connectivity provider, has acquired London fixed wireless and high-speed fibre network provider, Luminet, for an undisclosed sum.

Telcom, backed by Gresham House, a specialist alternative asset manager which initially committed to invest £63m into the group in 2021 through its British Strategic Investment Fund (BSIF), said the acquisition is a key component in iys growing footprint.

It adds London to the list of existing metro networks, delivering high speed internet combined with a full stack of applications, products and services to business customers and channel partners throughout the UK.

Luminet, which was founded in 2005, and Christopher Baldock, Telcom Group’s chairman, said: “The board of Telcom are delighted to be working with the team at Luminet whose London footprint and strong channel proposition will complement and integrate into Telcom’s network infrastructure and provide a platform for our product portfolio of applications, products and services aimed at the business market.”

Simon Adcock

Simon Adcock, head of portfolio and co-fund manager of sustainable infrastructure funds at Gresham House, said: “The two businesses are a strong strategic fit in terms of their culture and values, the geographies they cover, and the products and service they provide. The acquisition will provide a platform for the accelerated growth of Telcom with the ability to service business customers on-net across the UK.”

Shaun Gibson, Telcom Group co-founder, said: “Luminet provides the key London footprint to complement our Hypercity fibre networks.

“With Manchester, Leeds, Liverpool and Birmingham now complete, we are rapidly becoming the go to high speed network provider for business customers and channel partners throughout the UK.

“The combination of Telcom and Luminet sees Telcom Group become the largest B2B Fixed Wireless Network provider in the UK and helps accelerate our ability to support Britain’s digital revolution and ultimately connect customers, to a network that’s built for greatness.”