Grain has secured a £225m funding boost to expand its network to cover around 600,000 premises as the next step on its strategy to build over one million premises.
The funds and/or accounts managed, advised or controlled by HPS Investment Partners, LLC or its subsidiaries. Grain is currently backed by Equitix and Albion Capital.
Equitix is also investing an additional £13 million of equity into the business - the fifth time that they have invested additional capital into the altent.
The Carlisle-based company turned EBITDA positive earlier in the year.
Richard Cameron CEO said: "We are very pleased to partner with HPS, a partnership which demonstrates … the strong financial performance we have delivered to date.
“External benchmarking shows that the next most efficient provider to build and connect homes spends 47% more than Grain and our operating cost per customer is 60% lower than the market.”
