Press Release

Springboard Corporate Finance is delighted to announce that it has advised Metronet on the acquisition of Venus Business Communications, a high growth fibre network provider based in London.

Metronet , which is backed by mid-market private equity firm Livingbridge, is the UK’s fastest growing connectivity and internet infrastructure provider, delivering industry-leading performance and support. The acquisition of Venus, which is Metronet’s second acquisition after completing the strategic purchase of M247 in October 2016, will enable the enlarged group to enhance its rate of penetration of the London market. The combined group will now employ around 230 people across six sites and will support almost 34,000 customers across 92 countries.

Matthew Caffrey, Partner at Livingbridge, said: “The acquisition of Venus neatly complements Metronet’s existing capabilities and will enable the business to build a world class wireless network in London on top of Venus’ core transit and last mile fibre capability. Metronet’s national services now include connectivity applications across the wireless and fibre spectrums as well as voice, security and hosting and we are very excited about the Group’s continued growth prospects.”

Lee Perkins, Chief Executive at Metronet (UK), said: “Venus is a fantastic business which has established itself as a leading player in the London market thanks to its market leading levels of speed and reliability. Just as importantly, Venus has the same entrepreneurial and customer-centric culture as us so I have no doubt that it will be an excellent fit with our business.”

David Neate, Partner at Springboard Corporate Finance who led the deal for Springboard commented ‘London is clearly the strategic market for connectivity and internet infrastructure businesses in the UK. The acquisition of Venus will provide an excellent platform from which Metronet can continue its impressive growth trajectory. We are delighted to have supported Metronet and Livingbridge on this transaction.”