ITS Technology Group has secured £100m from Avenue Capital Group to enhance its goal of reaching half of the UK's commercial sites.
This adds to the existing support from Aviva Investors for potential mergers.
Using XGS-PON tech, ITS offers up to 10Gbps services to over 500 UK partners.
Daren Baythorpe, CEO at ITS, said: “This additional funding recognises the strength in our business plan as we continue to expand our network, as well as consider strategic acquisitions, as the fibre market adapts to changing technology and undergoes consolidation.
“Following last year’s follow-on investment from Aviva Investors and the acquisition of NextGenAccess, we have worked with our partners to drive connections with both businesses and with public sector organisations.”
Jonathan Ford, Senior Portfolio Manager and Head of Europe Strategy at Avenue Capital, said: “The company’s management team not only has very deep industry relationships to execute on their business plan, but it has also coupled it with a strong delivery track record.”
