M&A Deal Summary

Downing Acquires Broadway

On October 6, 2021, asset manager Downing acquired communications company Broadway from Souter Investments Limited

Acquisition Highlights
  • This is Downing’s 1st transaction in the Communications sector.
  • This is Downing’s 8th transaction in the United Kingdom.

M&A Deal Summary

Date 2021-10-06
Target Broadway
Sector Communications
Buyer(s) Downing
Sellers(s) Souter Investments Limited
Deal Type Secondary Buyout

Target

Broadway

Liverpool, United Kingdom
Broadway serves the connectivity needs of rural communities across the UK by deploying the pioneering TV WhiteSpace technology. The company has developed network coverage across large swathes of monmouthshire in Wales, and in ayrshire, perth & kinross, inverness-shire, and stirlingshire in Scotland. With an initial fixed wireless focus, broadway has incorporated full fibre into its technology toolkit, allowing it to offer the most appropriate technology wherever it goes. Broadway was founded in 2016 and is based in Liverpool, United Kingdom.

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Buyer(S) 1

Buyer

Downing

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1986
PE ASSETS 1.9B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Downing is an alternative asset manager focused on a variety of investment strategies. These include renewable energy, infrastructure, property finance and development, and healthcare. Downing was founded in 1986 and is headquartered in London, United Kingdom.


DEAL STATS #
Overall 9 of 9
Sector: Communications M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
Country: United Kingdom M&A 8 of 8
Year: 2021 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-26 DiA Analysis

Beer Sheva, Israel

DiA Analysis is a provider of advanced AI-based solutions for ultrasound analysis. DiA’s AI-based technology imitates the way the human eye detects borders and identifies motion, allowing clinicians of all levels of experience to capture the right ultrasound images and automatically identify clinical abnormalities that are otherwise difficult to find visually. DiA Analysis was founded in 2009 and is based in Beer Sheva, Israel. ​

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-02 Ondat

London, United Kingdom

Ondat is a cloud-native, software-defined storage solution to deliver persistent storage for Kubernetes. Ondat is built from the ground-up with no legacy restrictions to give developers working with cloud-native workloads total control of storage with no compromise on performance, availability, or security. Ondat was founded in 2015 and is headquartered in London, United Kingdom.

Sell -

Seller(S) 1

DESCRIPTION

Souter Investments is a family office focused on private equity investing throughout the UK. The Firm looks to commit £2 to £30 million to support a variety of transaction situations including buyouts, growth capital financings, corporate divestitures, and balance sheet restructurings. Broad areas of interest include transportation, luxury goods, financial services, healthcare, and business services. Souter Investments was established in 2008 and is based in Edinburgh, Scotland.


DEAL STATS #
Overall 8 of 12
Sector: Communications M&A 2 of 2
Type: Secondary Buyout M&A Deals 5 of 5
Country: United Kingdom M&A 6 of 10
Year: 2021 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-10 Octavius Infrastructure

Reigate, United Kingdom

Octavius Infrastructure is a specialist transport infrastructure and civil engineering business focused on railways and highways. The business is a tier one supplier to key public bodies such as network rail, national highways, and transport. Octavius Infrastructure is based in Reigate, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-12 Kids Planet

Cheshire, United Kingdom

Kids Planet is a family entertainment center that provides nursery care and education to children through a network of UK sites. The nurseries all have the same look and feel - with a welcoming environment, attention to detail, and first-class support for parents and families. Kids Planet was established in 2008 and is based in Cheshire, United Kingdom.

Buy -