Alchemy Acquires Geo

Fiber network company Geo acquired by Alchemy for £62M

February 8, 2008

1 Min Read

LONDON -- Geo, a leading provider of optical fibre networks, today announced that it has been sold by the Hutchison Whampoa Group to the Alchemy Investment Plan (“Alchemy”) in a deal worth £62m.

Geo owns a high quality 2,500km optical fibre network across the UK which is adjacent to the mains gas pipeline. It also owns an 80km fibre network built deep underground in Thames Water’s sewer network in London. It uses these assets to design and build bespoke data networks for some of the UK’s largest organisations such as Carphone Warehouse, Tiscali and 3UK. Recently, it has been selected by the Welsh Assembly Government to build and operate the innovative new FibreSpeed network to deliver high speed communication services in North Wales, the first phase of which will see a £30 million investment over the next 15 years.

Jon Moulton, Managing Partner of Alchemy Partners LLP, said “We are delighted the acquisition of Geo has completed. The company’s innovative business model, high quality bespoke services and excellent track record provide it with a unique position in a sector full of “me too” operators. We look forward to working with Geo’s experienced management team to continue the growth of this exciting young company.”

Geo Networks Ltd.

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