Funding will:
- fast track Orbital’s rollout of ultrafast fibre broadband, especially in rural areas of Kent, to meet the surge in data consumption and demand for high-bandwidth capacity;
- position the business to become a leading Internet Service Provider for Holiday Parks in the UK; and
- develop its bespoke B2B technology service offerings.
Orbital provides wireless, fibre and leased line connectivity, voice services and internet managed services under its Orbital Net (B2B) and Vfast (B2C) brands. The business has built considerable fixed line and wireless telecommunications infrastructure in Kent over 20 years, and receives consistently high customer service ratings.
Demand for ever faster data from both consumers and businesses is a longstanding trend, which has only been accelerated by the enduring shifts in behaviour caused by the pandemic. While working, studying and leisure at home have steepened the upswing in residential demand, business connectivity needs have not been impacted, as employees still need rapid access to corporate systems.
However, the pandemic has exacerbated the stark disparity between internet speeds in rural areas compared to cities. With this significant new investment, Orbital will leverage its position as a leading independent ISP in Kent to roll out high-bandwidth network connectivity for underserved rural regions, as well as installing fibre infrastructure into local Business Parks, offering enhanced connectivity at lower cost.
In addition, Orbital aims to become a leading specialist ISP for Holiday Parks across the UK. The business has recently completed a significant project for Park Holidays Group, delivering ultrafast internet connectivity to 14,000 holiday homes and is well positioned to install infrastructure for other park operators and connect new customers across the country.
Orbital is led by an entrepreneurial and experienced Management Team comprising CEO, Darren Brown, MD of VFast, Rebecca Brown, Technical Director, Ben Doherty and Finance Director, Sam Miller. The transaction was led by Mobeus Investment Manager, Matt Gordon-Smith, who worked with Partner Richard Babington on the deal. Guy Blackburn, Mobeus Portfolio Partner, has joined the board to support Orbital in achieving its full potential. The deal was sourced by Investment Analyst, George Chatzimanolis, as part of Mobeus’s direct origination activities.
Matt Gordon-Smith, Mobeus Investment Manager, says,
“Orbital offers a critical service in a market with considerable demand drivers. We have been impressed by the business’s existing infrastructure and local knowledge in Kent, combined with the team’s entrepreneurial approach and technical knowledge. We are delighted to partner with them to deliver their vision for the next stage of Orbital’s growth.”
Orbital’s shareholders were advised by Clearwater International (Corporate Finance) and Capital Law (Legal). Mobeus was advised by RSM (Financial and Tax), CIL (Commercial), Analysys Mason (Technical), Grant Thornton (Tax Structuring) and Squire Patton Boggs (Legal).
“The insatiable demand for data isn’t going anywhere and we have a significant opportunity to leverage our established position in Kent. With this new funding and Mobeus’s partnership behind us, we can achieve this with pace and agility.”
Darren Brown, Orbital CEO