About:

N1 is a privately owned Western Australian based telecommunications company founded in 2012 and focused on wireless connections for retail and business customers. Services are based on class licensed 5Ghz and 60Ghz wireless network. The company owns its own wireless infrastructure consisting of 53 mobile towers as at March 2020 which are strategically located in Perth, Bunbury, Geraldton and the Mid-west of Western Australia. The company has plans to rapidly expand existing infrastructure and grow its customer base.

Forrest Capital's Role:

The principals of Forrest Capital co-invested in a syndicate headed by telecommunications entrepreneur Tony Grist to acquire 49% of N1 via a capital injection. The additional capital will be used to expand the mobile tower roll out and secure additional working capital for a more robust marketing campaign in all regions.

In May 2021, N1 merged with east coast fixed wireless and wholesale network infrastructure carrier Swoop (ASX:SWP). The merger which formed part of an IPO transaction was completed with a $20 million capital raising.