Unison Group finalises sale of fibre business to Tuatahi First Fibre
Unison has announced the finalisation of the sale of Unison Fibre Limited, to leading central North Island fibre network provider Tuatahi First Fibre.
Unison Fibre was a subsidiary of the Unison Group of companies, which owns and operates the electricity distribution network in Hawke’s Bay, Taupō and Rotorua, and is wholly owned by the Hawkes Bay Power Consumers’ Trust.
Unison Fibre was launched in 2009 to support Unison’s electricity network, starting with just 30km of fibre cabling between Hastings and Napier. Over the last 15 years it has grown to be a fibre network with 700km of cabling connecting over 3,500 customers across Hawke’s Bay and the Central North Island.
Unison said in a statement today that following an initial sale and purchase agreement in October 2023, the sale was finalised on 31 January.
Unison Group CEO Jaun Park says he is enthusiastic about the sale which will see the business, its customers and regions benefit from the expertise and scale of Tuatahi Fibre.
“It has been a fantastic journey building Unison Fibre over the last 15 years and we’re very proud of the team and of the business it has grown to be. We couldn’t be more pleased to be handing stewardship over to Tuatahi, who share the same values and commitment to excellence as Unison, to take it to the next level.”
Uniso said that under the ownership of Tuatahi, customers currently connected to the Unison Fibre network 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.
Tuatahi is also gearing up to introduce Hyperfibre to its network within the next 12 months, which will deliver symmetrical download and upload speeds of up to 4GB.
“We know our Unison Fibre team and customers will be in great hands with Tuatahi, and both will benefit from Tuatahi’s expertise and scale,” says Park.
The Unison Group’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.
Tuatahi CEO John Hanna said there was ongoing investment in the renowned thermal regions of Taupō and Rotorua, along with the Hawke’s Bay.
“This acquisition aligns perfectly with our dedication to heartland New Zealand. We are committed to ensuring a smooth transition and maintaining a high standard of service and reliability for Unison Fibre’s current customers.”
There will be a gradual transition of people, technology and systems from Unison to Tuatahi, during which customers may notice a combination of Unison Fibre and Tuatahi branding on various assets such as vehicles and fibre cabinets.
As part of the acquisition, Tuatahi is welcoming 12 Unison Fibre staff members to their team.
“Retaining local fibre expertise is crucial for us. We are thrilled to have the highly-skilled, experienced team from Unison Fibre join us, ensuring continuity and ongoing exceptional service for customers,” says Hanna.
