Cameron Barney Herbst Hilgenfeldt (“CBHH”) advises Connexin on its up to £35m of debt financing to support its smart water meter roll-out across the UK.
October 2026
CBHH is pleased to announce that it acted as exclusive financial adviser to Connexin Limited (“Connexin” or the “Company”) in obtaining up to £35m by way of a Term Loan, accordion, and a working capital facility from Santander UK plc, plus further commitment from PATRIZIA funds to support its’ rollout of IoT smart solutions for UK water utilities, public authorities and enterprises.
Connexin, a leading operator of LoRaWAN IoT networks in the UK, provides smart metering connectivity and data services to water utilities including Yorkshire Water, Northumbrian Water and South East Water. Through its ConnexinOS platform, the Company turns data from smart meters and sensors into actionable intelligence, helping water companies detect leakage, target investment and make faster and smarter decisions. Alongside its utilities business, Connexin delivers smart city infrastructure for public sector customers such as Hull City Council, and enterprise solutions for clients including CBRE.
This financing by Santander is the first-of-a-kind for IoT LoRaWAN infrastructure for UK water utility smart meters. The new funding ensures that Connexin has sufficient capital to fulfil its planned IoT roll-out of up to 3 million meters for its existing customers and become a self-sustaining services provider with long-term customer contracts.
“We are delighted to have been able to arrange this financing for Connexin in what has been an extremely challenging financing market for UK communication infrastructure companies. It was, however, made considerably easier by Connexin’s high-quality customer base and Santander’s skills in structuring a highly tailored package of finance.”
“We are very pleased to have completed this financing with Santander and PATRIZIA, which will enable us to accelerate the roll-out of our smart metering network and solutions we provide to utilities, government and enterprises. Against the backdrop of an extremely challenging UK financing environment, CBHH brought deep sector knowledge and expertise, helping us and our shareholder, PATRIZIA, assess a range of funding structures and quantum before landing on the right one for the business. Their flexibility and execution capability were invaluable throughout, and we very much enjoyed working with the CBHH team.”
About Connexin
Connexin, established in 2006, is a UK-based smarter technology provider with industry-leading services across five areas: Home, Business, Enterprise, Public Sector and Utilities.
Passionate about bridging digital divides for all, Connexin was one of the first challenger brands to enter the Hull broadband market and shake up the legacy local monopoly. Connexin also develops and operates award-winning smarter public sector and utilities infrastructure to enhance connectivity and improve quality of life. Connexin’s mission is to connect the digital world to the real world to improve the way we live.
With a commitment to innovation, the environment, and uniquely inspiring work culture, Connexin is trusted by Yorkshire Water, Northumbrian Water, Severn Trent Water, Hull City Council and CBRE, and has won numerous high-profile accolades, including “UK’s Smartest Street”, “Digital Impact”, runner-up in “Fastest Growing Northern Tech Business”, and “Sunday Times Best Places to Work”.
Connexin’s headquarters are in Hull, East Yorkshire, with a registered office in London.
About Patrizia
PATRIZIA has been providing investment opportunities in smart real assets for institutional, semi-professional, and private investors for more than 40 years, focusing on real estate and infrastructure. PATRIZIA’s investment solutions are driven by the “DUEL” megatrends - Digital, Urban, Energy and Living transitions - and capitalise on the opportunities arising from these transformative global shifts. PATRIZIA currently has approximately EUR 56bn in assets under management (AUM) and employs around 800 professionals across 26 locations worldwide.
PATRIZIA has been committed to making a positive impact since its founding. In 1992, the company began collaborating closely with Bunter Kreis (“Colourful Circle”) in Germany to provide aftercare for children with severe diseases. Since 1999, the PATRIZIA Foundation has provided 800,000 children and young people worldwide with access to education, healthcare and a safe home, enabling them to live better, self-determined lives.
About Cameron Barney Herbst Hilgenfeldt (‘CBHH’)
Cameron Barney Herbst Hilgenfeldt (CBHH) is an independent European investment bank providing financing and M&A advice 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 authorised and regulated by the Financial Conduct Authority.
For further information, please contact:
CBHH
Charles Cameron +44 7785 292 019
Stefano Sasia +44 7305 678 402
Recent Transactions
