i3 acquires fibre optics maker

FIBRE optics network business i3 Group has bought an equipment manufacturer based in North Wales.

i3, formerly H20 Networks Group, deploys fibre optics in underground water pipes to supply high speed internet – meaning the system can be laid faster than the usual method of road digging.

It has bought Colwyn Bay-based Fibre Associates which makes fibre optic products. The group said the deal, for an undisclosed sum, would help it provide technical support throughout the business.

Fibre Associates, which operates under the brand Fibre@, also acts as a supply chain partner across the optical technology sector to achieve shorter lead times and more efficient distribution.

Elfed Thomas, chief executive of i3, said: “The acquisition of Fibre Associates forms part of our long term strategy to build support for the group’s main revenue activity in both the UK and international markets.

“Fibre@ has specific experience in fibre components and has key skills in fibre component procurement.”

i3 Group, based in Newton-le-Willows, was founded in 2002 and supported by the Preston-based venture capital firm Enterprise Ventures through its Coalfields Enterprise Fund.

Enterprise invested in 2006 but sold out to the management team last month.