Fiera Infrastructure has teamed up with Dutch pension fund manager APG to buy the remaining stake Fiera does not already own in a US fibre infrastructure services provider.
Conterra said it has entered into an agreement with APG and Fiera, along with Conterra’s senior management team, to buy the remaining indirect equity interests of Conterra from Court Square Capital Partners and certain other indirect equity holders of Conterra.
Financial details were undisclosed.
Fiera acquired a significant equity interest in Conterra Ultra Broadband in April 2019. Fiera’s interests in Conterra are held in its EagleCrest Infrastructure strategy.
Headquartered in Charlotte, North Carolina, Conterra has an 11,100-route mile fibre network providing services to 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 are excited to be partnering with APG and Fiera Infrastructure, two exceptionally well-capitalised 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 fibre networks, strategic acquisitions and enhanced fibre-based solutions, while remaining fully committed to delivering exceptional customer experience.”
Steven Hason, APG’s Americas head of real assets, 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.”
Alina Osorio, president of Fiera Infrastructure, said: “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.”
Jamie Crotin, managing director of Fiera Infrastructure, said: “Conterra provides a very strong platform on which we will continue to grow the company, through both organic network builds and acquisitions.”
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