Truespeed Communications and Freedom Fibre have signed an agreement to combine their businesses, forming what the companies described as a scaled, capital efficient full fibre platform positioned to play a leading role in the ongoing consolidation of the UK alternative network sector.
The merged group will bring together two complementary, effectively unlevered operators with a combined footprint of 412,000 premises ready for service and 70,000 customers. The network coverage is concentrated across the North West, West Midlands, South West and East of England.
The businesses point to prior integration experience as a core rationale for the deal. Truespeed consolidated its South West and East of England networks into a single operation following its 2025 merger with County Broadband. Freedom Fibre previously merged with VX UK in 2024, adding infrastructure in the West Midlands, South West and East of England, alongside ISP LilaConnect to build an integrated wholesale and multi brand retail model.
The combination is designed to pair Truespeed’s retail brand, customer growth engine and regional density with Freedom Fibre’s wholesale platform and expanding retail capability. Management said the complementary regional footprints should improve scale efficiency and accelerate the route to profitability, while supporting further M&A in a market where smaller altnets are increasingly expected to consolidate.
Long term investors Aviva Investors, InfraBridge and Equitix are backing the transaction alongside the management team. Nathan Vautier is proposed to serve as CEO of the combined group post completion, with Nelson Missier proposed as Chief Strategy and Commercial Officer.
The merger is subject to customary regulatory approvals and is expected to complete in Q2 2026. Truespeed was advised by Acuity Advisors with legal advice from CMS Cameron McKenna Nabarro Olswang LLP. Houlihan Lokey acted as financial adviser to Freedom Fibre, with legal advice from Weil, Gotshal & Manges.
KEY QUOTES
“This merger is a strategic step that demonstrates our commitment to ongoing industry consolidation and growth. As we combine expertise and scale, our new platform is primed to lead future M&A and drive broader transformation. Together, we are set to accelerate expansion, create value and shape the sector’s evolution.”
Nathan Vautier, Proposed CEO, Combined Group Post Completion
“This merger is an exciting development and the next logical step for Truespeed and Freedom Fibre. By combining complementary capabilities and business operations, we are creating a powerhouse to drive commercial growth, profitability and consolidation in the sector. Our shared vision is to grow further and faster, delivering world class connectivity and exceptional service to our wholesale and retail customers”.
Nelson Missier, Proposed Chief Strategy & Commercial Officer, Combined Group Post Completion
“We are glad to back this merger between Truespeed and Freedom Fibre. As the UK telecoms market matures, we believe Truespeed and Freedom Fibre bring together critical capabilities for future success, including experienced teams, high penetration levels, strong brand recognition, and a wholesale model underpinned by scalable technology and efficient operations. We believe the newly combined business is well-placed to capitalise on UK market trends, leading to improved performance prospects.”
Ian Shervell, Senior Director, Infrastructure Equity, Aviva Investors
“This combination is a highly logical next step for both businesses. Truespeed and Freedom Fibre bring complementary network footprints, operating models and go-to-market strengths, creating a stronger platform with greater operational depth, broader geographic reach and a more balanced wholesale and retail offering.”
James Burke, Managing Director & Co-Head, InfraBridge
