Navigating a saturated and capital-intensive market
Due to sensitivities around management involvement, FRP conducted a desktop review using only investor-held information. Leveraging this limited dataset, FRP quickly produced an informed options analysis to support urgent decision- making. This included a review of key contractual obligations, asset types, and the structure of each group entity. A primary restructuring strategy was identified—focused on taking control of core entities and assets—to maintain operational continuity while protecting the investor’s position. Rapid review and strategic option development
FRP’s analysis outlined the likely timelines for implementation of various restructuring options, factoring in the group’s uncertain cash runway. Contingency strategies were also developed to prepare for potential delays or setbacks. Additional commercial considerations, such as factors affecting the ability of any acquirer to continue operations, were also highlighted. As the group progresses with a targeted asset sale to stabilise the business, FRP’s strategy has been revisited and adapted to reflect the group’s evolving circumstances - demonstrating our ability to deliver clear, flexible advice in time-critical and complex scenarios. Delivering flexibility and ongoing strategic support
Following a period of rapid expansion by Alternative Network Providers (“AltNets”) in the UK, the sector became increasingly saturated. High levels of capital expenditure, coupled with ongoing debt service costs, led to sustained losses - common among new entrants. With performance projections showing that current funding arrangements were no longer viable, the group’s private equity investor engaged FRP to assess contingency options in the event that further investment could not be secured.
frpadvisory.com
22
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