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SDC Capital Partners Closes Majority Investment in Summit Infrastructure
Thursday 18 April 2019

18 April 2019 - Funds managed by US-based private investment firm SDC Capital Partners, LLC have closed the acquisition of a majority stake in US-based dark fibre infrastructure provider Summit Infrastructure Group, Inc., the firm said.

Previous lead investor, Columbia Capital, has retained a material ownership stake in the company.

SummitIG is a dark fibre infrastructure provider to carriers, data centre operators, content providers and large enterprises in Northern and Central Virginia.

The company's network infrastructure includes over 500 route miles of unique, newly-constructed and 100% underground metro and long-haul routes that enable custom designed, fibre-based solutions for its customer base.

Effective upon the transaction close, Sunny Kumar, formerly the company's chief commercial officer, elevates to the role of chief executive officer for SummitIG and chief financial officer, Michael Rees, assumes the additional role and responsibilities of chief operating officer.

Kumar succeeds Bill Cook who will remain involved with Summit in an advisory capacity, helping the company chart and execute on its continued path of expansion.

SummitIG and SDC announced the transaction on January 11, 2019.

SDC Capital Partners, LLC is a specialised private investment firm focused on the IT and communications infrastructure sectors.

Bank Street Group acted as exclusive advisor to SummitIG and DLA Piper provided legal counsel to the company. Skadden, Arps, Slate, Meagher and Flom LLP acted as legal counsel to SDC.
Details
Date Published: 18/04/2019
Target: Summit Infrastructure Group/majority stake
Country: USA
Sector: Telecommunications
Type: LBO
Financing:
Status: Closed
Vendor:
Buyer: SDC Capital Partners/funds
Buyer Advisor: Skadden, Arps, Slate, Meagher and Flom
Comment:
Terms of the deal were not disclosed

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