Independent infrastructure investment manager Ancala Partners (Ancala), on behalf of its managed funds, has sold its majority interest in Fore Freedom for an undisclosed sum to funds managed by HRL Morrison & Co. Fore Freedom is an independent developer, owner and operator of fibre networks across the Netherlands.
Ancala acquired a majority interest in Fore Freedom and its related entities in September 2018 and through a buy-and-build strategy has helped transform the business into a leading fibre network developer, owner and operator in over 80 business parks across the Netherlands. Fore Freedom provides essential broadband connectivity to businesses via high-speed, reliable, open access fibre networks in commercial and industrial areas. The company also has its own network operator and internet service provider through its subsidiary, XXLNet.
Since the acquisition in September 2018, Ancala has worked closely with Fore Freedom’s experienced management team to create a standalone business focussed on the development and growth in the business fibre market in the Netherlands. This included implementing a new organisational and reporting structure, strengthening the sales and marketing team, executing a redefined sales strategy and product offering, as well as providing capital to fund accretive fibre deployments.
Spence Clunie, Managing Partner, Ancala Partners, says: “We are delighted to have supported Fore Freedom’s accelerated development into a leading independent fibre network provider in the Dutch market. We thank the Fore Freedom management team for their contribution and wish them continued success.”
Edwin de Raadt, Managing Director, Fore Freedom, says: “We have enjoyed working with Ancala Partners over the past two years. The access to capital and operational experience they have provided has allowed us to transform Fore Freedom into the Netherlands’ leading independent developer, owner and operator of fibre networks to business customers.”
