01
Market sizing
Addressable market, competitive density, build-velocity benchmarks against UK altnet peers. Region-by-region break-down where the network spans multiple geographies.
FTTH Commercial Due Diligence
Sector-specialist alternative to Big-4 commercial DD. Sell-side or buy-side, scoped to your network and the question you need answered.
Get in touchWho this is for
For PE and infrastructure investors evaluating UK altnet acquisitions, and for sell-side teams preparing a network for sale or refinancing.
The commercial case for an altnet sits in market reach, customer economics, build velocity, and the regulatory framework around access. Most CDD on UK altnets comes from generalist Big-4 strategy teams. We bring sector-specialist depth: PIA / Ofcom fluency, hands-on altnet build experience, and a record of where the assumptions that look defensible on paper actually break in operations.
Sell-side or buy-side, scoped to the deal stage. We work fixed-fee against an agreed scope-driver list, with deliverables sized to the buyer's audience (IC paper, lender syndicate, or sell-side data-room).
What's covered
Five workstreams
02
Competitive landscape
Mapping of incumbent (Openreach), other altnets in footprint, and Virgin/Vodafone overlay. Build-vs-overlay decisions in contested areas. Customer-acquisition pricing trends.
03
Business plan stress test
Pressure-test the operator's plan: customer take-up, ARPU, churn, build cost per premise, opex curves, working capital. Where do the numbers bend, and what's the load-bearing assumption?
04
Regulation & PIA review
Operational PIA exposure, CANDID compliance, contractor performance against Openreach standards, Ofcom dependencies. Sector-specialist regulatory review, not academic commentary. (M1 lens.)
05
Opex / capex assumption review
Per-premise build cost, ongoing maintenance cost, customer-acquisition cost, transmission/active-estate spend. Cross-checked against our own delivery experience and Tier-1 altnet benchmarks.
How we size an engagement
- Geographic footprint (regions covered)
- RFS and customer base
- Business-plan complexity and time horizon
- Regulatory exposure (PIA dependency, Ofcom-touch points)
- Sell-side vs buy-side cadence
Why us
Three credentials brought to every CDD engagement
M1
PIA-fluent regulatory review
We work in PIA day-to-day - regulatory review carries operational depth, not desk-research.
M3
AI-augmented data-room
Larger data-rooms reviewed faster - more questions answered, deeper substantiation, on the same calendar.
M2
Tier-1 migration lens
Hands-on migration experience informs how we read business-plan integration assumptions and time-to-synergy claims.
Need CDD on a UK altnet?
Tell us the network and the question driving the deal. We'll come back with a fixed-fee proposal scoped to size and complexity.
Get in touch