Charlotte, North Carolina fiber operator Conterra Ultra Broadband Holdings – also known as Conterra Networks – has been acquired by investment groups APG Group and Fiera Infrastructure. Financial terms were not disclosed.
This is M&A deal 269 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
Conterra's management team was also part of the buyout, with “significant participation,” according to a press release. The deal saw them buy out shareholder Court Square Capital Partners and other indirect equity holders.
Conterra is one of the largest independent fiber infrastructure services providers in the United States. With its 11,100-route mile fiber network, the company serves enterprise, carrier, education, government, and data center customers in 21 states in the Southeast, South Central, and Western United States.
Conterra Acquisition: Providing Infrastructure
Craig Gunderson, president & CEO of Conterra, commented:
“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. With their financial strength and support, we will accelerate our expansion plans in Tier II and Tier III 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.”
“I would like to acknowledge the Conterra employees who have grown Conterra into what it is today, the trust from our customers, the outstanding guidance from Court Square over the last six years and the support from all of our vendor partners, each of whom made this day a reality.”
Steven Hason, Americas head of real assets, for APG said:
“APG’s long-term approach to investing in infrastructure complements Conterra’s long-term growth plans. 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.”
Investment Firm Insight
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. APG is also one of the most active infrastructure investors globally, including a growing global presence across the telecommunications sector.
Canadian firm Fiera Infrastructure is a global mid-market direct infrastructure investor. The firm acquired a significant equity interest in Conterra in April 2019. This latest transaction represents the culmination of Fiera Infrastructure’s plan to acquire additional equity interests, the firm said.