November 17, 2023 – Wilton & Bain has assisted in the recruitment of Gareth Greppellini as the new CEO of Spring Fibre in the U.K. Jay Siddiki, a partner in the global technology & digital infrastructure practice at Wilton & Bain, led the search. “It’s an exciting journey ahead for Spring Fibre,” said Mr. Siddiki. “Whilst the AltNet industry is going through some turbulence; Gareth brings composure, a wealth of experience, freshness in management style and dynamic thinking to complement a well-structured team that has been carefully put together.”
“We’re thrilled to welcome Gareth to the Spring Fibre family,” said Stuart Sutton, non-executive chair. “His proven leadership and strategic vision make him the ideal person to guide Spring Fibre forward as we continue to our mission to bring ultrafast broadband to the parts of the country that need it most.”
With previous leadership roles at both Virgin Media/VMO2 and clean energy brand, Egg, Greppellini has a track record of strategy and transformation in the telecoms and utilities industry.
This appointment marks the start of the next phase of growth and a renewed focus on sustainability for the company. Under Mr. Greppellini’s leadership, Spring Fibre will extend its network reach and commitment to the environment and social value and governance framework, while remaining focused on delivering long-lasting customer relationships.
“It’s a really exciting time to join Spring Fibre,” said Mr. Greppellini. “The telecoms landscape is evolving quickly, and I am looking forward to building on Spring Fibre’s customer focus to achieve our growth targets, whilst putting community outreach and sustainability at the heart of the business.”
Spring Fibre launched in 2019, securing funding from a fund managed by River and Mercantile Infrastructure in July 2022, has rapidly grown and is rolling out high speed FTTP infrastructure across multiple locations across the U.K.
Founded in 2001 by Jeremy Mobbs and Ben Latreuille, Wilton & Bain provides executive search, interim management/consulting, and technology resourcing services to the technology, professional services, and converging digital markets. With offices in London, New York, Austin, Toronto, and Ireland, the firm has an expertise in technology to focus on digital transformation for clients across TMT, retail, consumer, financial services, insurance, and utilities.
Mr. Siddiki joined the interim management practice in 2018, specializing in supporting clients within the telco, media & technology sector. Having specialized within the TMT sector for over 10 years, he collaborates with his clients, helping them attract CxOs, who drive business strategy through PMI/divestiture, business transformation, technology transformation, and TOM based organizational change.
A Second Management Buyout
Last year, Wilton & Bain secured investment from Beechbrook Capital to fund a second management buyout, bringing 12 new partners into the shareholding structure to support the future growth of the firm. There will also be a pool of unallocated equity for future individuals.
Wilton & Bain Places CIO for Truespeed
Wilton & Bain has placed Robert Purdy as the new chief information officer of Truespeed. Jay Siddiki and Nic DeVito from the firm’s global technology practice led the assignment. “Robert is a fantastic hire for Truespeed,” said Mr. Siddiki. “He will be a brilliant addition to an already brilliant leadership team. As the business continues to go from strength to strength, there is no doubt that it will be an exciting journey ahead for all involved.”
“Five years after Wilton & Bain’s initial MBO the firm has tripled in size and now takes another important step towards becoming a widely held partnership, with the support of our financial partners Beechbrook,” said Piers Marmion, chairman of Wilton & Bain. “This transaction endorses the resilience Wilton & Bain has shown and its rare growth prospects, recognizing the capability of its enlightened management and the strength of its compelling ownership culture, as it welcomes another 12 new partners as shareholders. As Wilton & Bain matures, unusually it is becoming more dynamic, driven by the collective force of partners who are now owners. Its prospects are exceptional.”
Beechbrook Capital, a specialist direct lender founded in 2008, invests in SMEs across a range of industries in the U.K. and Europe. By the end of June, the firm had raised more than €1 billion through eight funds and invested in 85 companies in the European lower mid-market, including 60-plus in the U.K. Beechbrook’s U.K. SME Credit funds provide finance to predominantly non private equity-backed SMEs in the U.K., investing between £5 million and £15 million per transaction.
Related: Wilton & Bain Appoints U.S. Advisor
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Executive Editor; Lily Fauver, Senior Editor – Hunt Scanlon Media