CBRE Investment Management is buying fibre-to-the-home provider in the Midwestern region of the US from Crosstimbers Capital.
The global real assets investment management firm said it has agreed to aquire Missouri-based Gateway Fiber on behalf of a fund for an undisclosed amount.
Founded in 2019, Gateway a fibre-to-the-home owner, operator and developer covering 12 cities in Missouri.
The latest deal follows another acquisition CBRE IM announced this week, involving the firm’s US fibre network operator WANRack, agreeing to buy Kansas-based internet provider KwiKom Communications for a CBRE IM fund. KwiKom builds and operates fibre optic and fixed wireless broadband networks that serve residential and business customers in Kansas, Missouri, Oklahoma and Nebraska.
Noi Spyratos, managing director of private infrastructure at CBRE Investment Management, said: “We’re excited to expand our investment in the fiber-to-the-home space through partnership with Gateway management.
“We believe we can bring significant value to Gateway, including through our portfolio company WANRack, which owns and operates an extensive network of middle-mile fibre across the US.”
Heath Sellenriek, the CEO Gateway Fiber, said: “Our mission is to bring a best-in-class internet experience to as many homes and businesses as possible. “This new partnership with CBRE IM will allow us to continue investing in our communities, our people and our valued customers.”
Chris Surdo, president and CFO of Gateway Fiber, said: “As we prepare for this new chapter, we’re thankful to our dedicated employees and partners who have supported us in getting to this point.”
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