DUNS based rural broadband provider Borderlink has secured £164m of funding and plan to create 100 new jobs including engineers and customer service and sales staff with the majority being in the Scottish Borders.
Founded in 2017, Borderlink was established to help provide broadband services to the areas surrounding the Scottish Borders, particularly in the more rural areas currently underserved by other operators.
The funding from specialist asset management company Gresham House will enable the company to dramatically accelerate its delivery of both rural and urban fibre and gigabit networks.
The new employees are in addition to the 70 hired since April bringing the total to 200 staff, and the company plan to open new offices in Berwick-upon-Tweed and Edinburgh allowing the company to boost the rollout of fibre broadband in the Scottish Borders, Lothian, Northumberland and Angus.
This investment is Gresham House’s largest in the fibre infrastructure space and will help enable up to 500,000 local homes to access gigabit-capable speeds over the next three years.
Meanwhile there is a changing of the guard at the top, as Chris Jagusz replaces John Seed as chairman of the firm, and Stevie Ingamells from Gresham House joins the board as director.
John Seed, Borderlink’s outgoing chairman said: “Since we began our partnership with Gresham House, Borderlink has gone from strength to strength. I am delighted this significant new investment will accelerate our growth, bringing much needed high-speed fibre broadband to communities throughout Scotland and England at a crucial time of economic recovery.”
Alex Cacciamani, founder and chief executive officer at Borderlink, added: “We have been enormously impressed by Gresham House’s BSIF team since they came on board last April. This latest investment is a huge vote of confidence in the Borderlink family and we all look forward to rewarding Gresham House’s confidence by delivering our ambitious growth plans.”
Peter Bachmann, Managing Director, Sustainable Infrastructure at Gresham House said: Borderlink’s management team has impressed us with its drive, ambition and ability to execute on its plans since our first investment. This is the largest investment BSIF has made into the fibre infrastructure space, a testament to our confidence in Borderlink and our conviction in the importance of excellent internet connectivity to conquer digital inequality across the UK. This investment will help bring much-needed high speed connectivity to underserved communities in Scotland and the North East.”
Stevie Ingamells, Associate Director, Sustainable Infrastructure at Gresham House, added: “Our investment is both financial and strategic as we have worked with the business to help set its future direction. Our investment reflects the top-to-bottom quality of the Borderlink business, which has achieved outstanding growth since its foundation in 2017. For the communities the business serves, this funding will enable great progress in delivering more widespread and equitable access to broadband connectivity, bringing real-world benefits to individuals and businesses alike.”