Infrastructure fund manager DIF Capital Partners has invested an undisclosed sum in Canadian internet service provider RFNOW.
DIF has made the investment on behalf of Core-plus Infrastructure Fund III (CIF III), a fund that targets mid-sized, core-plus infrastructure companies mainly in Europe and North America.
DIF said the investment has been made to help RFNOW expand its telecommunications network. Founded in 2000, RFNOW currently provides enterprise fibre, residential fibre, fixed wireless internet and phone services over its 1,500km fibre optic network and tower portfolio in Manitoba and Saskatchewan, Canada.
Willem Jansonius, partner and head of CIF at DIF Capital Partners, said: “RFNOW is offering a tremendously important internet service connecting relatively remote areas with its state-of-the-art fibre technology.
“The management has done a great job in bringing the company to where it is now and we are very much looking forward to growing it further together. The addition to our existing investments offers a gateway to unlock even bigger parts of Canada.”
Chris Kennedy, RFNOW’s CEO, said: “This investment will provide immediate and long-term benefits to RFNOW customers and employees. We are extremely proud of what our team has accomplished to get us here.
“Now, with this new partnership, we are well-positioned to enhance our existing operations and accelerate investment in new communities and regions.”
To read the latest edition of the latest IPE Real Assets magazine click here.
