Tuatahi First Fibre to acquire Unison Fibre
Tuatahi First Fibre, the leading central North Island fibre network provider, will expand its presence into Hawke’s Bay, Taupo and Rotorua through the purchase of Unison Fibre Limited.
Unison Fibre’s network stretches from Rotorua to Hastings. It is a subsidiary of the Unison Group, which also owns and operates the electricity distribution network in Hawke’s Bay, Taupo and Rotorua and is wholly owned by the Hawkes Bay Power Consumers Trust. Unison Fibre was established by Unison in 2009 as an enabler to support the performance of Unison’s electricity network, growing the business to what it is today and connecting more than 3,500 customers.
Tuatahi CEO John Hanna said that the company will continue to invest in the internationally renowned thermal regions of Taupo and Rotorua and the determined, resilient, and thriving Hawkes Bay.
“Tuatahi is committed to heartland New Zealand, so Unison Fibre is a great fit for us. This acquisition means we can expand our central North Island footprint and we’re excited to welcome Unison’s skilled staff into our team. As we merge Unison’s Fibre business into ours, we will ensure Unison’s current fibre customers a smooth transition without any disruption to services.”
“That said, there will be huge positive change for Unison customers in one regard: increased access. We are able to offer many more retail service providers.”
Customers connected to Unison Fibre had limited choice of retail providers across the network’s regions but under the ownership of Tuatahi will ultimately have greater choice and access to up to 50 providers, from big name national retailers to regional players and to specialised providers such as those preferred by gamers.
Furthermore, Tuatahi is investing heavily to be able to bring Hyperfibre to its customers in the next 12 months. This will make it possible to deliver symmetrical (i.e. download and upload) speeds of up to 4GB to business and household consumers – terrific high-grade performance especially for gaming enthusiasts. Current speeds across the Unison Fibre network typically peak at around 1GB.
Chief Executive of Unison, Jaun Park (pictured), says the sale is great news for consumers in the Unison Fibre network area, who will not only have greater choice and access to retailers and services but will also benefit from the expertise and scale that Tuatahi First Fibre brings.
“It has been a fantastic journey building Unison Fibre into the attractive business that it is today. Now is the right time to hand the stewardship on to a parent company that can take it to the next level.”
“Tuatahi shares the same values and commitment to its communities and regions as Unison and brings deep expertise and specialist knowledge of fibre infrastructure services in the regions. There really couldn’t have been a better fit.”
Unison’s strategy is to build a portfolio of companies that deliver specialist electricity solutions, products and services to market while increasing shareholder returns to the consumers of Hawke’s Bay.
“Strategically, divesting Unison Fibre means we can focus our efforts on enhancing the performance of our portfolio of specialist electricity companies.” says Park.
In a statement this afternoon the Hawke’s Bay Power Consumers Trust (HBPCT) Chair Diana Kirton said the Trust supported the acquisition of Unison Fibre Limited by Tuatahi First Fibre.
“The Trust is pleased that Unison has been able to secure such a good outcome for consumers. Unison Fibre customers will benefit from greater choice of service providers from late this year when the deal is due to complete, as well as being part of a much bigger business with fibre at its core offering, and the scale to deliver significant benefits.”
“Tuatahi shares Unison’s strong values and commitment to its regions and communities and is a great fit for our regions.”
“Unison has done a fantastic job in growing Unison Fibre into the business that it is today. The sale to Tuatahi means that Unison can focus 100% on building its core expertise within the electricity sector, including maintaining and developing Hawke’s Bay’s electricity network”, says Kirton.
