Wood Creek Capital Management, LLC and Wireless Infrastructure Group have received an investment from 3i Infrastructure plc of close to GBP75m.
The investment capitalises the company at approximately GBP300m and sees 3i Infrastructure acquire a significant minority stake, joining Wood Creek Capital Management and the management team as shareholders.
The investment is part of a strategy to scale up the company.
Completion of the transaction is conditional only upon receiving clearance from the European Commission under EU Merger Regulations which is anticipated by the end of June 2016.
WIG is an independent communications infrastructure provider head-quartered in Bellshill, Scotland. The company builds and operates communication towers (masts) in rural and suburban areas together with fibre based networks to improve mobile coverage in large buildings and on city streets.
3i Infrastructure plc is a Jersey-incorporated, closed-ended investment company, listed on the London Stock Exchange and regulated by the Jersey Financial Services Commission. The company is a long-term investor in infrastructure businesses and assets. The company´s market focus is on economic infrastructure, primary PPP and low-risk energy projects in developed economies, principally in Europe, investing in operating businesses and projects which generate long-term yield and capital growth.
Headquartered in New Haven, Connecticut, Wood Creek Capital Management is an SEC-registered investment advisor founded in 2005 with holdings in tangible and intangible asset-based businesses. Wood Creek is an affiliate of Babson Capital Management LLC.