Foreign firms are continuing their investments in U.S. regional network providers, as an AMP Capital Everstream Solutions deal announced last week illustrates.
Australia-based AMP Capital today bought Everstream Solutions LLC, a super-regional network service provider, for an undisclosed price.
Everstream said that it plans to use the new capital for acquisitions and greenfield network builds as well as for network growth and development.
“AMP Capital shares a longer-term perspective for Everstream, bringing financial strength and strategic know-how to our business to position Everstream for years of continued success,” said Brett Lindsey, Everstream president and chief executive officer, in a prepared statement. “We look forward to joining forces with AMP Capital and, with their support, continuing on our trajectory of positive growth.”
Everstream will serve as the central business unit for AMP’s planned consolidation of telecom assets in North America. The growing company is expanding its international presence, including in North America, with offices in New York, Chicago and Irvine, California.
The investment follows on earlier similar foreign investments.
In June, we reported that Canadian private equity firm Novacap completed its previously announced acquisition of Horizon Telecom for $220 million. The Novacap Horizon acquisition provides Novacap more than 4,300 fiber route miles and nearly 550,000 fiber strand miles with over 1,600 on-net locations and 16,600 near-net buildings. It also continues the trend of foreign investment firms acquiring U.S. fiber assets.
In August, we discussed that just a few months after global investment firm EQT Partners announced plans to purchase fiber network operator Lumos Networks, EQT fiber investment continued with the announcement of the purchase of Spirit Telecom, which is merging with Lumos Networks.