The acquisition will help grow Telcom’s footprint, with the company able to deliver high-speed internet combined with a full stack of applications, products and services to business customers and channel partners throughout the UK.
Luminet was founded in 2005 and is an ethernet connectivity specialist across fixed wireless and fibre with the ability to provide resilient connectivity at speeds of up to 10Gbps. Wireless connectivity can be provisioned within 10 days.
Shaun Gibson, co-founder, Telcom Group (pictured), 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.”
Telcom Group is backed by Gresham House. The asset manager committed to invest £63 million into the group in 2021 through its British Strategic Investment Fund (BSIF).
Simon Adcock, head of portfolio and co-fund manager of sustainable infrastructure funds, Gresham House, added, “We are very pleased to welcome Luminet into Telcom group.
“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.”