CTG provides fibre connectivity to multiple dwelling units owned by Housing Associations and Local Authorities in areas of the UK underserved by established providers. Following this investment, it will partner with InfraRed to deliver fibre networks to over 700,000 homes, helping to connect communities and enabling many more people to access high-speed reliable broadband.
CTG will also use the proceeds of the investment to build out its workforce through over 100 new hires during the next few years and strengthen its supply chain. This supports the development of CTG’s innovative approach of installing multiple fibres within residential buildings at once and then leasing access to these lines to internet service providers. This approach reduces safety risks within the buildings and also leads to a reduction in materials required and carbon generated compared with the traditional installation method.
Stephane Kofman, Director of Infrastructure at InfraRed Capital Partners, said:
“Modern digital infrastructure is playing an increasingly important role in the global economy. High quality fibre optic infrastructure has a key role to play in accelerating digital inclusion. InfraRed’s partnership with CTG will facilitate the creation of a high-quality fibre optic network, delivering connections to underserved communities and giving more people access to reliable broadband than ever before, while raising safety standards during the installation process. Fibre optics is a scalable and power-efficient form of technology, and this investment reflects InfraRed’s commitment to continuing to invest in sustainable community assets which support the modern economy”.
Eddie Minshull, CEO of Complete Technology Group, said:
“We are delighted to have secured this investment from InfraRed, which allows us to accelerate our delivery and bring about positive change to tenants, landlords and the telecommunications sector.
“We will be working with landlords to help them improve fibre connectivity in their homes in a safe, reliable and accountable way, while reducing fire and safety risks to their buildings.
“We will apply the highest safety standards. Broadband providers will be able to access homes more easily and scale up their operations, and residents will get a greater choice of provider and less disruption. It’s a win-win-win all round.”
About InfraRed Capital Partners:
InfraRed is an international investment manager, investing in infrastructure which contribute positively to society and support the transition to a net zero future. Over the past 30 years, InfraRed has established itself as a highly successful developer and custodian of core infrastructure, renewable energy and real estate assets that play a vital role in supporting sustainable communities. It operates worldwide from offices in London, New York, Sydney and Seoul. With around 165 professionals, it manages in excess of US$10bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe.
At InfraRed, a long-term, sustainability-led mindset is essential to delivering lasting success, and this mindset directs its assessment and management of the Environmental, Social and Governance (“ESG”) aspects of its business. InfraRed has been a signatory of the Principles of Responsible Investment since 2011 and has been awarded triple A+ score in the 2020 review (relating to the 2019 assessment period). It is also a member of the Net Zero Asset Manager’s Initiative, a certified CarbonNeutral® company1 and is a TCFD supporter.
InfraRed is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.
1. In accordance with The CarbonNeutral Protocol. Further information is available at https://carbonneutral.com/ the-carbonneutral-protocol