CBHH advises Connexin on the sale of its full fibre infrastructure network to CityFibre and establishment of a new nationwide strategic partnership
March 2025
Cameron Barney Herbst Hilgenfeldt (‘CBHH’) is pleased to announce that it acted as exclusive financial advisor to Connexin Limited (‘Connexin’ or the ‘Company’) in the sale of its full fibre infrastructure assets to CityFibre Holdings Limited (‘CityFibre’), the UK’s largest independent full fibre platform.
The transaction also includes a long-term nationwide wholesale agreement enabling Connexin to deliver its award-winning ISP and Smart Home services across CityFibre’s extensive national network.
Connexin operates a nationwide ISP underpinned by an in-house engineering, software and systems integration capability. The Company also operates an Internet of Things (‘IoT’) business serving the UK utility industry and public sector. Since 2020, Connexin has been supported by investment from the global fund manager PATRIZIA SE. Following the transaction, PATRIZIA will continue to be a Connexin shareholder and will also become a minority shareholder in CityFibre.
The sale of its fibre assets allows Connexin to expand its ISP services across CityFibre’s national network and to build on Connexin’s successes within the smart meter sector, including rolling out one of the UK’s largest LoRaWAN® (long range wide area) networks and winning contracts to monitor over two million smart water meters.
“CBHH were instrumental in guiding our Board and Shareholders through a complex strategic review of funding options. Their deep sector insight and thoughtful analysis helped us explore a range of debt and equity structures. As the process evolved, it became clear that a full capital raise wasn’t the right move for our business at this stage and we decided to pivot. With CBHH’s support, we pursued a strategic asset sale and long-term service agreement instead — a path that better aligned with our growth priorities and operational focus. Their advice, flexibility, and execution capability were invaluable throughout.”
“We are delighted to have advised Connexin on this transaction. The partnership created between the two companies plays to their individual strengths: Connexin as a national provider of connectivity and smart technology solutions and CityFibre as the UK’s leading independent open access network. We also really enjoyed working with the Connexin team.”
About Connexin
Connexin is a UK-based technology company on a mission to build smarter, more connected communities. The company provides broadband, smart home, IoT and smart water metering solutions to consumers, businesses and local authorities. .
About CityFibre
CityFibre is the UK’s largest independent full fibre platform. The company provides open-access wholesale infrastructure to ISPs and mobile operators and is rolling out a nationwide full fibre network that now passes more than 4.4 million premises.
About PATRIZIA
PATRIZIA Infrastructure is a division of PATRIZIA SE, a leading partner for global real assets. Its European Infrastructure Fund II invests in high-quality infrastructure businesses across Europe, with a focus on digital, transport and energy transition sectors.
About Cameron Barney Herbst Hilgenfeldt (‘CBHH’)
Cameron Barney Herbst Hilgenfeldt (CBHH) is an independent European investment bank providing financing and M&A advisory services to fast-growing companies in the infra-tech sector, including energy transition infrastructure, digital infrastructure, social infrastructure, natural capital, and technology. Cameron Barney LLP is authorized and regulated by the Financial Conduct Authority.
For further information please contact:
CBHH
Charles Cameron +44 7785 292 019
James Head +44 7588 707 985
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