Sale of Lightning Broadband to Superloop Limited
River Capital is pleased to announce that portfolio company Lightning Broadband (Lynham Networks Pty Ltd) has entered into a binding Share Purchase Agreement to be acquired by Superloop Limited (ASX:SLC). The transaction values Lightning Broadband at an enterprise valuation of $165 million and represents a significant milestone for the business and for River’s SPV, the Embedded Network Trust. Completion of the transaction remains subject to regulatory approvals and customary completion adjustments, with closing expected between April and June 2026.
River Capital’s Embedded Network Trust, established in June 2024, holds a 40% interest in Lightning Broadband and a 20% interest in Locality Planning Energy (ASX:LPE). Upon completion of the Lightning Broadband transaction, sale proceeds will be distributed to investors in the Trust. Investors are expected to receive approximately $2.10 for every $1.00 invested (net of all fees) - achieved within two years of the initial investment.
Congratulations to the River team involved in this successful outcome. This transaction highlights River’s ability to identify high-quality businesses, partner effectively with management, and generate compelling returns for our co-investors.
As always, we are grateful for the trust our Embedded Network Trust investors placed in us by choosing to co-invest alongside the River Capital team in this SPV.
Click here to view the ASX announcement released by Superloop Limited.
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