TalkTalk is the UK’s leading value-for-money provider of landline, broadband, TV and mobile services. It serves over four million customers and operates Britain’s largest unbundled broadband network, covering 96% of the population. The Company supplies consumers directly through the TalkTalk brand, to businesses through TalkTalk Business, and by wholesaling to resellers. TalkTalk intends to be at the heart of Britain’s Full Fibre future. In November 2018, it launched FibreNation – a new company to drive their ambition to roll out fibre to the Premises (FTTP) to three million British homes and businesses.
In March 2021, Toscafund, the London-based multi-asset investment management firm, and its sister company Penta Capital (together “Tosca Penta”) completed their £1.11 billion take private of TalkTalk.
Tosca Penta will work with TalkTalk’s management team, led by Sir Charles Dunstone, to strengthen the business and increase its service levels for all customers. The group’s status as a private company will enable its management and investors to make long-term investment decisions that will strength TalkTalk’s customer offer and market position over time.
Souter Investments formed part of the Penta Capital led syndicate, whom we have backed in five other previous investments.