Fiber infrastructure services provider Conterra Ultra Broadband Holdings, Inc. (also known as Conterra Networks) says affiliates of APG Group NV and affiliates of Fiera Infrastructure Inc., alongside “significant participation by the company's senior management team,” have joined in an agreement to buy the remaining indirect equity interests of Conterra that Fiera doesn’t already own from affiliates of Court Square Capital Partners and certain other indirect equity holders of Conterra. Terms of the deal, including both the price involve and the expected closing date, were not disclosed.
Charlotte, NC, based Conterra Networks operates an 11,100-route-mile fiber network that supports customized middle- and last-mile fiber and wireless services delivery to enterprise, carrier, education, government, and data center customers in 21 states in the Southeast, South Central, and Western U.S. Its expansion strategy has included several acquisitions (see, for example, "Conterra Networks to expand via Network Communications Telecom acquisition," "Conterra expands fiber footprint with Network USA and Sun America acquisition," and "Conterra expands fiber footprint with Detel, Broadplex acquisitions").
Fiera, a global mid-market direct infrastructure investor and an affiliate of Fiera Capital Corp. (TSX: FSZ), bought a significant equity interest in the company in April 2019. Fiera Infrastructure's interests in Conterra are held in its EagleCrest Infrastructure strategy.
"Fiera Infrastructure looks forward to working closely with our new partner APG in support of Conterra's solid management team and employee base as they continue to execute upon their expansion strategy," said Alina Osorio, president of Fiera Infrastructure.
"On behalf of the Conterra management team and our employees, we are excited to be partnering with APG and Fiera Infrastructure, two exceptionally well capitalized institutions with significant experience growing infrastructure businesses,” commented Craig Gunderson, president and CEO of Conterra. “With their financial strength and support, we will accelerate our expansion plans in Tier 2 and Tier 3 markets through the rapid expansion of our fiber networks, strategic acquisitions, and enhanced fiber-based solutions, while remaining fully committed to delivering an exceptional customer experience."
“APG's long-term approach to investing in infrastructure complements Conterra's long-term growth plans,” stated Steven Hason, Americas Head of Real Assets at APG, a pension fiduciary asset manager based in the Netherlands. “This investment will position Conterra to provide vital infrastructure to underserved markets and customers well into the future. APG looks forward to our partnership with both Fiera Infrastructure and the Conterra management team."
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