There was a bit of fiber M&A out in the Pacific Northwest announced yesterday. InstarAGF has entered into a definitive agreement to acquire LS Networks.
LS Networks operates some 7,000 route miles of fiber in Oregon, Washington, and northern California. It is currently owned by a collective of rural electric cooperatives in Oregon, and provides connectivity from dark fiber through Ethernet access. They have 500 towers on-net, with another towers near-net. Until now the company has managed to stay entirely out of the M&A fray.
InstarAGF is an alternative asset management firm that specializes in infrastructure and other alternative real asset categories, owning a variety of transportation, energy, and now apparently connectivity assets in the North American middle market.
Terms of the deal were not disclosed, but the deal is expected to close in Q1 of 2021. Operationally, not much will change, as the current management team led by President and CEO Byron Cantrall will stay on doing what they have been doing.
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