Law firm Stephenson Harwood LLP has advised UK investor BGF on its exit from Virtual1, a London-based cloud and connectivity service provider, via a sale to TalkTalk Group.
Virtual1 is a provider of B2B connectivity to businesses around the UK, and TalkTalk Group provides fibre, broadband, TV and landline services to over four million UK customers, and operates Britain’s biggest unbundled broadband network. This deal will enable Virtual1 to increase its scale as a national provider of Ethernet solutions, and to strengthen the capabilities and market positions of both businesses.
The Stephenson Harwood team comprised private equity partner Malcolm MacDougall and senior associate Nicola Baird. The team had previously acted for BGF, in 2017, on its initial investment in Virtual1.