Fern Trading Limited acquires Swish Fibre and announces £250m funding deal

Burges Salmon’s Corporate and Technology and Communications teams have advised Fern Trading Limited on the acquisition of Swish Fibre, together with a long-term £250m funding deal set to transform full-fibre broadband access in the UK.

Swish Fibre is an established Openreach Communications Provider with ambitious growth plans to create vital UK infrastructure to serve the data needs of the population, generating considerable employment opportunities in doing so.

The company’s acquisition by Fern will see investment in excess of £250m over the next few years to improve the nation’s coverage levels, starting with the build of Swish Fibre’s first 10-Gigabit-per-second, full-fibre network providing 250,000 Home Counties properties with world-leading speeds. Fern is advised by Octopus Investments.

Robert Skinner, Investment Director at Octopus, commented: “It’s been great to work again with the Burges Salmon team, combining excellent advice and execution capabilities with their knowledge of Fern as a client. This is a hugely important transaction for Fern, in what is an exciting sector that can deliver game-changing connectivity to hundreds of thousands of people in the UK.”

Burges Salmon Partner Mark Shepherd led the team advising Fern. He said: “We’re delighted to have supported Fern with another fantastic transaction in the telecommunications sector. Swish Fibre’s plans to transform full-fibre broadband access in the UK and help boost the nation’s coverage levels to number one in the world rankings, matched with the calibre of its management team, makes it a truly exciting proposition.”