CHARLOTTE, N.C. and
NEW YORK and TORONTO,
June 30, 2021 /PRNewswire/
-- Conterra Ultra Broadband Holdings, Inc. ("Conterra
Networks", "Conterra" or "the Company") today announced that
affiliates of APG Group NV ("APG") and affiliates of Fiera
Infrastructure Inc. ("Fiera Infrastructure"), along with
significant participation by the Company's senior management team
have closed on the purchase of the company from affiliates of Court
Square Capital Partners ("Court Square") and certain other indirect
equity holders of Conterra (the "Transaction").
Conterra Networks, headquartered in Charlotte, North Carolina, is one of the largest
independent local providers of fiber-based services in the
United States, with a 13,000-route mile fiber network that
brings high-capacity customized middle and last-mile fiber and
fixed wireless services to enterprise, carrier, education,
government and data center customers across 21 states in the
Southeast, South Central and Western US.
Craig Gunderson, President &
CEO of Conterra, commented, "On behalf of the Conterra management
team and our employees, we want to thank the Court Square team, our
founding management team and our employees for guiding and
supporting the growth of Conterra. We are excited to be
partnering with APG and Fiera Infrastructure to accelerate our
expansion plans in Tier II and Tier III markets through the rapid
expansion of our fiber networks, strategic acquisitions and
enhanced fiber-based solutions, while remaining fully committed to
delivering an exceptional customer experience."
APG is one of the largest pension fiduciary asset managers in
the world, working for over 22,000 employers and providing the
pension for one in five families in the
Netherlands (approximately 4.7 million participants).
APG is one of the most active infrastructure investors globally,
including a growing global presence across the telecommunications
sector. Steven Hason, Americas
Head of Real Assets, commented, "On behalf of our clients, APG is
pleased to announce this investment in Conterra Networks.
APG's approach to investing in digital infrastructure complements
Conterra's long-term growth plans. This investment will
position Conterra to provide vital infrastructure to their growing
customer base in Tier II and III markets well into the future.
APG looks forward to our partnership with both Fiera
Infrastructure and the Conterra management team."
Fiera Infrastructure acquired a significant equity interest in
the Company in April 2019, and the
Transaction represents the culmination of Fiera Infrastructure's
plan to acquire additional equity interests.
Fiera Infrastructure is a leading global mid-market direct
infrastructure investor and an affiliate of Fiera Capital
Corporation (TSX: FSZ). Fiera Infrastructure's interests in
Conterra are held in its EagleCrest Infrastructure strategy.
"Fiera Infrastructure looks forward to working closely with our new
partner APG in support of Conterra's solid management team and
employee base as they continue to execute upon their expansion
strategy," said Alina Osorio,
President of Fiera Infrastructure. Jamie Crotin, Managing Director of Fiera
Infrastructure, added that "Conterra provides a very strong
platform on which we will continue to grow the Company, through
both organic network builds and acquisitions."
About Conterra Networks
Founded in 2001, and now
operating approximately 13,000 fiber route miles, Conterra is one
of the largest independent providers of fiber-based services
in the United States.
About APG
As the largest pension provider in
the Netherlands APG looks after the pensions of 4.7 million
participants. APG provides executive consultancy, asset
management, pension administration, pension communication and
employer services. We work for pension funds and employers in
the sectors of education, government, construction, cleaning,
housing associations, sheltered employment organizations, medical
specialists, and architects. APG manages approximately
€577 billion (March 2021) in
pension assets. With approximately 3,000 employees who work
from Heerlen, Amsterdam,
Brussels, New York, Hong
Kong, Shanghai, and Beijing.
APG has been an active infrastructure investor since 2004,
investing approximately €16.0 billion to date and managing 36
direct stakes in portfolio companies. APG's investments include
assets within energy and utilities, telecommunications, and
transport infrastructure. APG's Global Infrastructure team is
comprised of 35 investment professionals. For more information,
please visit www.apg.nl
About Fiera Infrastructure
Fiera Infrastructure is a
leading global mid-market direct infrastructure investor operating
across all subsectors of the infrastructure asset class. Led by a
team of highly experienced and specialized professionals, the firm
leverages strong global relationships, with a local presence in
both Toronto, London and New
York. Its rigorous approach to investment and asset
management aligns with its long-term approach. Fiera Infrastructure
has assets under management and commitments of C$2.7 billion as of March
31, 2021. Fiera Infrastructure has invested in 35
infrastructure assets across utilities, telecommunications,
transportation, renewables and PPPs. For further
information, please visit http://www.fierainfrastructure.com
About Court Square
Court Square is a middle market
private equity firm with one of the most experienced investment
teams in the industry. Since 1979, the team has completed over 230
investments, including several landmark transactions, and has
developed numerous businesses into leaders in their respective
markets. Court Square invests in companies that have compelling
growth potential within the business services, general industrial,
healthcare, and technology and telecommunications sectors. The firm
has $7.3 billion of assets
under management and is based in New
York, N.Y. For more information on Court Square, please
visit www.courtsquare.com.
Advisors
Weil, Gotshal & Manges LLP acted as
corporate counsel and Harris, Wiltshire & Grannis LLP served as
regulatory counsel to Fiera Infrastructure and APG, and Goulston
& Storrs PC served as legal counsel to APG. TD Securities and
Evercore served as financial advisors, and Dechert LLP acted as
corporate counsel to Conterra and Court Square and Morgan, Lewis
& Bockius LLP served as regulatory counsel to
Conterra.
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SOURCE Conterra Ultra Broadband Holdings, Inc.
