CableCom Networking Limited (“CableCom”) is a leading provider of managed internet and digital media services to high density, principally student, accommodation throughout the UK.
CableCom designs, installs and manages the networks required to deliver broadband connectivity and digital media services to student accommodation, social housing and key worker accommodation under long term contracts. It has grown rapidly through a focus on technical excellence, high levels of customer service and by maintaining strong partnerships with investors in the sector, such as Unite and UPP, and partner providers including Sky.
The main market within which CableCom operates, digital services to commercially provided purpose built student accommodation, is expected to double the number of student rooms available between 2012 and 2017. This is being driven by growth in student numbers, competition between universities due to fee levels and higher standards of accommodation being expected by students. It is also a highly attractive asset class for property investors with strong yields, minimal voids and demand well in excess of supply.
Momentum provided independent advice to the management team. The transaction provided an exit for ISIS Equity Partners, on behalf of the Baronsmead VCTs, who supported the original buyout in 2007. In addition ISIS have reinvested for a minority stake in the business. The funding for the deal was provided by Inflexion, who will support the company through the next phase of its growth.