FPE backs internet provider Optimity

It remains unclear at this stage whether or not FPE secured a majority stake, with the GP stating it had invested fresh investment capital in return for a "substantial" stake, while management will hold onto the remainder of the shares.

FPE manages funds on behalf of the private equity arm of multi-family office Stonehage Fleming Family & Partners, as well as institutional investors, entrepreneurs and business owners.

It typically targets companies with revenues in the region of £5-50m; Optimity was entitled to the accounting exemption for small companies as of December 2014, suggesting its turnover lies at the bottom end of that range.

FPE usually deploys £3-15m of equity per deal. The GP stated Optimity would look to maintain high revenue growth following the fresh capital injection, while aiming to accelerate the expansion of its fixed wireless network and managed services.

FPE's David Barbour and Llewellyn John will join Optimity's board as part of the investment. Telecoms specialist John Trower will join the business as non-executive chair.

Company
Established in 2002, Optimity is a business-focused internet service provider operating its own LDN+ fibre and wireless network in London. It is aiming to provide 10Mb-1Gb connections in addition to a range of telecoms, mobile, security and IT services.

People
FPE Capital – David Barbour (managing partner); Llewellyn John (partner).
Optimity – Anthony Impey (CEO).

Advisers
Equity – Charles Russell Speechlys (legal); RSM Corporate Finance (corporate finance); Analysys Mason (commercial due diligence).
Company – Oakley Advisory (corporate finance); Jaswal Johnston (legal).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom