Fibre optics business acquired by broadband provider
Concept Solutions People (CSP), which designs and builds fibre networks for councils, data centres, ISPs, and universities, has been acquired by business and residential UK internet service provider Glide Group.
With over 50 years’ combined experience in IT infrastructure and networking, Leeds-based CSP has already built over 100 kilometres of owned duct network in 27 locations and aims to become the leading provider of dark fibre solutions.
Operating in seven countries, Glide Group has built a national ‘full fibre’ broadband network that reaches over 100,000 premises.
It specialises in delivering market-leading, ultra-fast and reliable solutions for students, residential developers and businesses.
Following the deal for an undisclosed sum, which completed on 10 May 2021, CSP will be renamed Glide Fibre, a new division within the Glide core network, enabling more opportunities to provide Glide Gigabit services to suit any business requirement nationwide.
CSP was advised by a team of Yorkshire advisers including Ian Parsons of Parsons Chartered Accountants in Wakefield; with legal advice provided by Laurie Dale and Amy Buttrick of Clarion. Glide was advised on the transaction by Grant Thornton and Addleshaw Goddard.
Steve Ives, founder of CSP, said: “We share the vision that Glide has to build high quality, high-capacity networks across the UK.
“For the past ten years, our team have been building these networks and we are pleased to be part of Glide to build even more network.”
Tim Pilcher, CEO of Glide Group, said: “When we met Dave and Steve, we knew that we had found the right partners to help us grow and expand our network further and faster than we could on our own.
“The team has a wealth of experience and knowledge that is invaluable to our ambitions to build fibre in difficult to serve and hard to reach areas.
“Our investors, Alinda Capital Partners who purchased Glide in 2020, invest in asset-rich infrastructure that will provide a lasting return for the next 20 to 30 years and this acquisition suited those criteria well.”
Laurie Dale, legal director in Clarion’s corporate team, added: “As part of such a large, well-resourced ISP, Glide Fibre has a bright future ahead – we wish them every success.”
