After building out aggressively in 2019, Everstream is looking to keep up its momentum in 2020. Today the Midwestern fiber operator announced plans to invest $250M in 2020 for the expansion and densification of its fiber network. That money will go toward both organic and inorganic opportunities.
The company is targeting five new metro markets: Chicago, St. Louis, Dayton, Fort Wayne, and Louisville. If all goes well, they will bring on another 100 new employees and reach 15,000 route miles of fiber. Everstream was bought by AMP Capital a year and a half ago, and those deep pockets have empowered them to put substantial sums toward this regional expansion.
Such projects will build upon expansions in 2019 into Milwaukee, Indianapolis and Columbus, a densification back home in Cleveland, and the purchase of Arch Fiber Networks out in St. Louis last year. They also acquired LightBound for more depth in Indianapolis, and I’m sure if they can find similar inorganic opportunities that will speed their expansion this year they will jump on them.
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