Private equity firm LDC has backed the buyout of Wifinity, the fast-growing wireless internet service provider, to support its UK expansion.
Wifinity specialises in providing reliable, high-speed broadband to customers on campuses and other multi-dwelling sites, such as student and key worker accommodation and holiday parks. Based in Kingston upon Thames, Wifinity has built a loyal customer base, serving over seven million users since it was founded in 2007 thanks to its router-free, no-contract, Gigabit-speed service. It is also a managed service provider to leading retailers, and other leisure and hospitality businesses.
BDO provided vendor due diligence services supporting the sale.
“This was the second time we have worked with Derek, Daniel and Jack; the first being in respect of an acquisition and this time in respect of Vendor Due Diligence. We have found the team to be very knowledgeable and responsive, with a highly collaborative approach, working closely with us and our M&A advisers. Their sector knowledge was instrumental to quickly arriving at a good understanding of our business, which led to a good quality, focused and informative report which greatly assisted in our achievement of a successful outcome.”
Costas Demetriou, CEO, Wifinity
"Wifinity has a great position in the market and we were pleased to be able to help secure LDC's investment and also build on our credentials in wireless internet."
Derek Neil, Partner, BDO LLP