Missouri-based service provider Gateway Fiber has entered into an agreement to be acquired by CBRE Investment Management, a global investment management firm.
Started in 2019, Gateway Fiber now serves 12 markets in Missouri.
Among the company’s more recent expansions have been Dardenne Prairie, Lake Saint Louis, and other parts of St. Charles County, St. Peters and St. Charles, MO.
The company expects the new financial partnership to help it to continue to grow. In the last 18 months, Gateway Fiber has been awarded government grants totaling $37 million.
In May, Gateway was awarded $10 million from the state of Missouri as part of a National Telecommunications Information Administration (NTIA) grant. Last month, the company was awarded $25.4 million from the state’s Broadband Infrastructure Grant Program, which was funded through the American Rescue Plan Act (ARPA).
“CBRE Investment Management not only shares our mission to positively impact the communities we serve but also brings with them a belief in our people and management team to help us reach these important communities,” said Heath Sellenriek, CEO of Gateway Fiber, in a prepared statement. “With the new support of CBRE IM’s investment, we can take our mission to a new level.”
“We’re excited to expand our investment in the fiber-to-the-home space through partnership with Gateway management,” said Noi Spyratos, managing director, private infrastructure at CBRE Investment Management. “We believe we can bring significant value to Gateway, fueling growth and bringing much-needed broadband infrastructure to areas that need options.”
