Macquarie completes acquisition of KCOM

Private equity outfit Macquarie Infrastructure and Real Assets (MIRA) has, via Macquarie European Infrastructure Fund 6, completed the acquisition of Hull telco and broadband service provider KCOM for £627 million.

KCOM’s board recommended the sale of the company to the Macquarie fund in July after a competitive auction process. The company delisted from the London Stock Exchange on August 2.

KCOM is one of the UK’s longest-established telecommunications companies. In the Hull and East Yorkshire region, the business is a leading provider of fixed-line telecommunications infrastructure – providing voice and broadband connectivity services to approximately 140,000 households and businesses via its fibre-to-the-premises network.

The company, once owned by the city of Hull, was also a pioneer in the rollout of IPTV at the end of the last century.

Leigh Harrison, Head of MIRA EMEA, said: “We are delighted to have finalised the acquisition of KCOM. We are looking forward to working closely with KCOM’s management team and workforce to increase fibre accessibility and reduce digital exclusion in the region. By investing to develop and expand KCOM’s networks, we hope to deliver the infrastructure that will underpin growth and innovation in East Yorkshire.”

Graham Sutherland, CEO of KCOM, said: “We are pleased to be partnering with an investor that has deep, global expertise in our industry. We are confident that Macquarie Infrastructure and Real Assets will support our long-term growth ambitions whilst helping us maintain our strong local focus and presence.”