A consortium led by H.R.L. Morrison & Co, the Australian Retirement Trust and a managed client of UBS Asset Management are acquiring FiberLight from energy firm Thermo Companies.
Headquartered in Atlanta, Georgia, FiberLight is a pure-play, top-ten fiber infrastructure provider in the U.S. market, featuring 18,000 route miles of fiber infrastructure reaching customers in over 30 metropolitan areas, principally in the major markets of Texas and the Northern Virginia area.
FiberLight’s seasoned management team, led by Chief Executive Officer Christopher Rabii, will continue to lead the business, the new owners say.
That latest deal is another example of institutional investors snapping up digital infrastructure assets. Generally speaking, the attraction is that the assets are “alternative” holdings in portfolios offering the prospect of predictable cash flows over time.
source: Asian Infrastructure Investment Bank
The interest in selling on the part of digital infrastructure owners is an exit from a business that is getting more capital intensive at the same time return on invested capital is shrinking.
As with all trends, there are reasons why buyers and sellers are motivated.
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