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Infrastructure investors seal major US fibre deal

Equity interests in networking company servicing enterprise, carrier, education, government and data centre customers across 21 states change hands as market consolidation continues.

By João Marques Lima

Founder and Editor, The Tech Capital

3 Mins

July 02, 2021 | 12:02 AM BST

Conterra Ultra Broadband Holdings has announced that affiliates of APG Group NV and affiliates of Fiera Infrastructure, along with participation by the company’s senior management team have closed on the purchase of the company from affiliates of Court Square Capital Partners and certain other indirect equity holders of Conterra. 

Headquartered in Charlotte, North Carolina, Conterra Networks is one of the largest independent local providers of fibre-based services in the US, with a 13,000-route mile fibre network that services enterprise, carrier, education, government and data centre customers across 21 states in the Southeast, South Central and Western US.

Craig Gunderson, president and CEO of Conterra, said: “On behalf of the Conterra management team and our employees, we want to thank the Court Square team, our founding management team and our employees for guiding and supporting the growth of Conterra. 

“We are excited to be partnering with APG and Fiera Infrastructure to accelerate our expansion plans in Tier II and Tier III markets through the rapid expansion of our fibre networks, strategic acquisitions and enhanced fibre-based solutions, while remaining fully committed to delivering an exceptional customer experience.”

APG is one of the largest pension fiduciary asset managers in the world, working for over 22,000 employers and providing the pension for one in five families in the Netherlands (approximately 4.7 million participants).  The firm is also one of the most active infrastructure investors globally, including a growing global presence across the telecommunications sector.

Steven Hason, Americas Head of Real Assets, said: “On behalf of our clients, APG is pleased to announce this investment in Conterra Networks.  APG’s approach to investing in digital infrastructure complements Conterra’s long-term growth plans. 

“This investment will position Conterra to provide vital infrastructure to their growing customer base in Tier II and III markets well into the future.  APG looks forward to our partnership with both Fiera Infrastructure and the Conterra management team.”

Fiera Infrastructure acquired a significant equity interest in Conterra in April 2019, and the transaction represents the culmination of Fiera Infrastructure’s plan to acquire additional equity interests.

Fiera Infrastructure is a global mid-market direct infrastructure investor and an affiliate of Fiera Capital Corporation (TSX: FSZ). Fiera Infrastructure’s interests in Conterra are held in its EagleCrest Infrastructure strategy. 

Alina Osorio, President of Fiera Infrastructure, added: “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.”

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João Marques Lima

Founder and Editor, The Tech Capital

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