Gresham House Ventures sells Glide after 13-year investment
1 June 2020
Gresham House Ventures, investing on behalf of the Baronsmead VCTs, is pleased to announce that it has sold its investment in fibre broadband provider, Glide to US infrastructure investor Alinda Capital, after backing the business for 13 years.
Glide is the UK’s leading provider of fibre broadband and connectivity to difficult to serve markets such as multi-tenanted buildings and business parks.
It designs, installs and manages fibre networks required to deliver broadband connectivity together with other critical products and services to student accommodation, the private rental sector and small and medium sized enterprises.
The Gresham House Ventures team originally invested in the business – then known as Cablecom – in 2007, when it was the market leader in providing networks to student accommodation. In 2013, the team sold down its majority stake to Inflexion but continued to actively support the business during what has been a period of transformational growth and acquisition.
Tim Pilcher, CEO, Glide said:
“The long-term support from Gresham House Ventures has been a vital part of our success as we have significantly transformed and grown our business. Their experience in the technology and telecoms sector has been invaluable as we have expanded our network, enhanced our capacity and improved our services. We look forward to continuing this success with our new partners.”
Henry Alty, Investment Director at Gresham House Ventures, said:
“We are delighted to have been able to support Glide in its growth journey over the last 13 years. We look to invest in businesses in exciting markets with strong potential and bold ambitions, and Glide has more than delivered on its potential. Its market-leading position means it is exceptionally well placed to continue its strong growth and we look forward to seeing their future success.”
