WIG is the UK's second largest independent tower company and, during our ownership, the largest to focus solely on telecom towers. It operates over 2,000 towers and other wireless infrastructure assets, representing 7% of the UK market.
WIG builds and operates communications towers in rural and suburban areas, together with neutral host networks to enable mobile coverage in buildings and on city streets. WIG is an independent operator and invests in high capacity infrastructure that is made available to all networks.
3i Infrastructure invested £75 million to acquire a minority interest in WIG in April 2016 to support the growth of the business. In January 2018, 3i Infrastructure invested a further £187 million to increase its equity ownership to 93%.
In December 2019, 3i Infrastructure completed the sale of its 93% stake in WIG to Brookfield Infrastructure, generating proceeds of £387 million, a 27% gross IRR and a 1.7x gross money multiple.