Fiber network consolidation continues with the news that Charlotte, N.C.-based Conterra Ultra Broadband Holdings is expanding its fiber network with the acquisition of Broadplex and Detel.
Announced Jan. 17, Conterra’s latest acquisitions bring its primary fiber footprint to more than 6,200 route miles and 35,000 fiber miles across seven states in the Southeast, Gulf Coast/Midwest and Western U.S., management highlights in a press release.
The addition of Broadplex and Detel brings the number of its On-Net sites to 3,500. That includes owning and operating more than 500 communications towers that serve school districts and wireless carriers.
The acquisitions also adds nearly 5,000 enterprise and multi-tenant buildings state/local government agencies and additional wireless carrier towers to Conterra’s Near-Net customer base.
Broadplex and Detel’s founders and management teams are joining Conterra as managers and co-owners as the parent company continues to pursue expansion plans. Financial terms and conditions of the deals were not disclosed.
Fiber Network Consolidation
“We have been working closely with both Detel and Broadplex for years and plan to take advantage of the many benefits that our larger scale, operating efficiencies and local customer relationships will bring to our combined bandwidth infrastructure growth as a result of these transactions,” Conterra’s president and CEO Steve Leeolou was quoted as saying in the press release.
“We are also delighted that Daryl Deshotel and his core team in Louisiana and Dr. Rocco DiSanto and his core team in the Carolinas will continue to provide transferable innovations, rapid and cost effective deployment capabilities and local competitive knowledge to our combined Conterra business plan.”
One of the largest remaining independent fiber network operators in the U.S., Conterra itself is majority-owned by Court Square Capital, a private equity investment company that manages some $5 billion.
Financial partners Toronto Dominion Bank, Bank of America, CoBank, ING Capital and Antares provided additional financing for the Broadplex and Detel acquistions. Conterra’s management team holds most of Court Square Capital’s equity, according to the press release.