DQE Communications to expand fiber infrastructure with GI Partners' strategic investment
(UI) — GI Partners, a leading investor in data infrastructure businesses, announced that it has signed an agreement to acquire DQE Communications from its parent company, Pittsburgh-based Duquesne Light Holdings Inc.
The transaction provides DQE with additional resources to expand as it continues to provide best-in-class connectivity services as a standalone fiber infrastructure provider.
Formed in 1997 as a subsidiary of DLH, DQE Communications has extended its geographic reach beyond its core Pittsburgh footprint and evolved into the region's largest independent fiber provider offering a full suite of infrastructure-oriented communication services.
This includes a 4,700-route mile fiber network that connects more than 3,000 on-net businesses, towers, and data centers with multiple expansion projects underway in strategically adjacent markets. The transaction will bolster DQE's expansion of its fiber network operations in order to capitalize on the growing demand for high-capacity, carrier-class bandwidth services by the company's customers in the enterprise, carrier, wireless, education, municipal and government sectors.
"We are excited to partner with the DQE team, which has built the region's most advanced carrier-grade, secure and reliable network serving preeminent enterprise and carrier customers," said Brendan Scollans, Managing Director and Co-Head of GI Data Infrastructure. "Since its inception, DQE has been dedicated to deploying best-in-class network infrastructure, and we look forward to working with the DQE team to grow the platform in the years ahead."
"This is a great opportunity for DQE. The investment by GI Partners uniquely positions DQE as a scaled and trusted strategic network provider," said Jim Morozzi, CEO of DQE Communications. "GI Partners is an experienced and knowledgeable investor in digital infrastructure, and we look forward to partnering with them to accelerate our network solutions and geographic reach while remaining fully committed to delivering exceptional service that our customers have come to expect from us for over 25 years."
"We are proud of DQE's growth in recent years and see this sale as an important next step in their future. We are committed to continuing our investment into the growth of the DQE Communications business leading up to close. Once the transaction is complete, we plan to reinvest proceeds from the sale back into Duquesne Light Company and its affiliate, The Efficiency Network (TEN)," said Kevin Walker, president and CEO, Duquesne Light Holdings.
The transaction is subject to regulatory approvals and other customary terms and conditions and is expected to close in the first half of 2024.
J.P. Morgan acted as exclusive financial advisor, and Taft Stettinius & Hollister LLP served as legal counsel to DLH.
TD Securities served as financial advisor, and Simpson Thacher & Bartlett LLP served as legal counsel to GI Partners.
Related News
From Archive
- DeLa Express seeks FERC approval for Permian-to-Louisiana gas pipeline project
- OSHA penalizes Houston contractor over safety violations resulting in worker's death
- Fiber infrastructure has no known expiration date, Fiber Broadband Association research concludes
- Nevada OSHA fines Elon Musk's Boring Company over safety violations in Vegas tunnel project
- Damage prevention and safety: Turning awareness into action
- Ditch Witch 1030
- Michigan lawmakers introduce bills to create septic codes throughout the state
- Indiana American Water to gain 8,000 water customers with Silver Creek Water acquisition
- Arkansas governor allocates $42 million for water infrastructure projects
- Federal judge finds Flint, Mich, in contempt over lead water pipe crisis
Comments