ResurgenceIG Buys Strome Fiber Holdings

Some of the industry’s newer fiber assets changed hands late last week. Resurgence Infrastructure Group has purchased Strome Fiber Holdings, taking over the company’s presence in the southeastern US.

The assets consist of a newly constructed fiber route between Miami and Atlanta along railroad rights of way, along with the colocation/interconnection huts spaced along the route. That presence is the former Allied Fiber buildout that Strome Mezzanine Fund acquired for $24M in 2016. Strome was one of AF Southeast’s lenders, and took over after pushing the assets into bankruptcy.

While the ownership is shifting hands, not much will change on the ground immediately. ResurgenceIG will be led by Scott Drake as CEO and Nick Lenoci as President and COO, the same roles they held at Strome Fiber Holdings.

But this does probably signal a shift to a more aggressive footing for the new company regarding these unique assets. ResurgenceIG plans to expand its product set to include spectrum leasing/alien waves, and is considering shifting to a ring architecture.  The company’s plans beyond that should be interesting to keep an eye on.

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Categories: Fiber Networks · Mergers and Acquisitions