Fiber M&A: SummitIG Buys DF&I

There was some interesting fiber M&A in one of the biggest infrastructure markets in the world the other day. SummitIG has announced the acquisition of Dark Fiber & Infrastructure. SummitIG is majority owned by SDC Capital Partners, while DF&I was part of the portfolio at Blue Owl Capital, and the two both have substantial assets in northern Virginia.

The acquisition pairs SummitIG’s deep conduit and fiber infrastructure between and within the Ashburn and Richmond metro areas with DF&I’s northern Virginia and Maryland depth. DF&I operates 200 route miles of conduit and dark fiber, including a uniquely diverse river crossing of the Potomac and connectivity up to Baltimore. SummitIG operates 1,100 route miles of conduit and fiber, a footprint that started with a brand new longhaul route back when few were yet investing in such projects. Since then they have added substantial regional and metro depth to complement that infrastructure. The company has also launched a fiber expansion out in Columbus, Ohio and Chicago, Illinois, showing its interest in reaching out into new markets.

SummitIG has until now not really made many inorganic moves, focusing on its organic buildout and operations. I doubt that will change all that much, as this acquisition of very similar adjacent assets seems like it will be easy to integrate and is a natural extension of their core footprint. That being said, I wouldn’t be surprised if the company were to find some other pure fiber & contuit assets to buy if the pricing were right.

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