Cameron Barney Herbst Hilgenfeldt (“CBHH”) advises Wessex Internet on its £50m commitment from The National Wealth Fund (“NWF”)
June 2025
CBHH is pleased to announce that it acted as exclusive financial adviser to Wessex Internet (“Wessex” or the “Company”) in obtaining a £50m commitment from NWF to support its’ rollout of full fibre broadband to rural communities in Dorset, Somerset, Hampshire and Wiltshire.
The NWF investment forms part of a wider capital raise alongside Wessex’s shareholders, Aberdeen Investments and the Company’s Founders, and an extension of an existing loan from Triodos Bank.
The financing will support £72m of subsidy provided by BDUK for four contracts within its Project Gigabit programme to deliver full fibre broadband to hard-to-reach and underserved rural areas. The combined capital raise plus subsidy enables Wessex to continue expanding its existing 40,000 rural premises network to approximately 135,000.
Wessex is a collaborative provider focused on the delivery of reliable connectivity to small rural communities where larger providers often struggle to justify investment because of the complex rollout and comparatively small numbers of premises. Wessex uses its own in-house team and innovative rural build techniques to ‘level the playing field’ for rural communities in Dorset, Somerset, Hampshire and Wiltshire by delivering access to fast, reliable and affordable full fibre broadband to businesses and families alike.
“We knew that raising debt for a UK fibre company in 2024/25 would be a challenge, so we selected CBHH on account of its sector experience and their confidence from our first meeting that good businesses attract capital even in difficult markets. In all aspects of a complex transaction the CBHH team excelled and we look forward to working with them again.”
“We are delighted to have been able to support Wessex Internet, its founders and Aberdeen in obtaining this loan from the National Wealth Fund. Without doubt, Wessex is one of the UK sector’s top performing companies when judged against customer take-up and satisfaction as well as fibre network build and operating metrics.”
About Wessex Internet
Based close to Blandford in Dorset, Wessex Internet is an award-winning local and independent broadband provider that is passionate about connecting the countryside. It is building an ultrafast full fibre network to connect and serve even the most remote communities in Dorset, Hampshire, Wiltshire and Somerset. Wessex Internet has been awarded four Project Gigabit contracts to connect around 53,000 homes and businesses in Dorset, the New Forest, South Wiltshire and South Somerset to gigabit-capable broadband.
About National Wealth Fund
The National Wealth Fund (NWF) is an investor, operating as a bank, to drive investment into the UK’s clean energy and growth industries in support of government policy. The NWF aims to mobilise private capital around the government’s strategic priorities, including delivery of the forthcoming industrial strategy. The NWF is based in Leeds and has £27.8bn of finance to deploy across the capital structure, including loans, equity investments and guarantees.
About Cameron Barney Herbst Hilgenfeldt (‘CBHH’)
Cameron Barney Herbst Hilgenfeldt (CBHH) is an independent European investment bank providing financing and M&A advisory services to fast-growing companies in the infra-tech sector, including energy transition infrastructure, digital infrastructure, social infrastructure, natural capital, and technology. Cameron Barney LLP is authorized and regulated by the Financial Conduct Authority.
For further information, please contact:
CBHH
Charles Cameron +44 7785 292 019
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