Projects

toob

Digital

Fibre

toob is a fibre to the premise (‘FTTP’) network operator rolling out full-fibre broadband networks within semi-urban towns and cities across the South of England.

Sector

Digital

Fibre

Location

South East England, UK

Status

Operational

Equity ownership

Majority shareholder

Financial close

November 2018

Term length

6-8 year holding period

About

toob is a full-fibre broadband provider building a brand-new FTTP network across the South of England. It aims to transform the internet experience for homes and business whilst narrowing the digital divide by supplying ultrafast broadband fit for the modern era, at an affordable price.

Connected customers

0,000

Founded by an experienced team, toob offers simple, affordable access to its full-fibre network so everyone in the community can benefit from ultrafast broadband, regardless of income, technical knowledge or age. toob seeks to play an active role in the communities it operates in.

Backed by Amber Infrastructure Group, toob launched its service in 2019 and has reached a critical mass of c.200k premises passed and c.30k customers across Southampton and other towns across the South of England.

Service launch date

toob has invested in building its automated systems, delivering a lean, scalable technology-enabled operating model, producing market-leading cost metrics that enable strong unit economics and underpin toob’s long-term competitive pricing.

toob secured a complementary wholesale partnership with CityFibre, the UK’s largest independent full-fibre wholesaler, giving toob the opportunity to acquire customers in areas adjacent to its network as well as diversifying revenue streams by wholesaling to the UK’s largest ISPs.

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No. of homes with access to toob’s full fibre broadband

> 0,000

Why we invested

Strong market fundamentals: Significant growth in data usage driving strong growth in demand for resilient digital infrastructure, within a stable and predictable regulatory regime
Value creation potential: By leveraging existing passive infrastructure (ducts and poles) from BT Openreach, toob can build its FTTP network in semi-urban towns at a relatively low coast
Highly competitive positioning: Reliable and affordable connections to homes and businesses at the most competitive prices on the market, driving strong take up of services
Significant inhouse knowhow: Specialist expertise amongst management team to deploy and commercialise fibre

Sustainable Development Goals (SDGs)

2030 Agenda for Sustainable Development adopted by UN Member States in 2015

SDGs supported:

SDG contribution

Outcomes

Leadership: Identified and secured new company leadership, leading to the appointment of a new Chairperson
Operations: Assisted in the development of enhanced operations and governance at toob to deliver market-leading customer take-up on its network
Financing: Successfully structuring the further capital needs of the business to support continued growth, securing up to £300m in May 2023 of funding from funds managed by Ares Management’s Infrastructure Debt strategy with additional equity committed by funds managed and advised by Amber, including INPP

toob

About

Why we invested

Sustainable Development Goals (SDGs)

Outcomes

Airband

Community Fibre

NextGenAccess