Investment firm GI Partners has acquired Pennsylvanian regional fiber firm DQE Communications.
The companies this week announced the closing of the acquisition from DQE’s parent company, Pittsburgh-based Duquesne Light Holdings Inc. The deal was first announced in December 2023. Terms were not disclosed.
Michael T. Sicoli has been appointed as CEO of the company, effective immediately. He replaces Jim Morozz.
Formed in 1997 as a subsidiary of energy utility Duquesne Light Company, DQE’s 4,700-route-mile fiber network spans Pittsburgh and the surrounding region.
DQE also offers colocation services from two data centers in Pittsburgh and Butler, Pennsylvania. The company’s Pittsburgh facility, in the Pittsburgh Technology Center at 322 Fourth Avenue, offers 1,000 sq ft of colocation space; the Butler facility at 238 Pillow Street offers 1,700 sq ft of raised-floor space.
Prior to joining DQE, New CEO Sicoli was the president & CEO of Internap (aka INAP). Before joining Internap in 2019, he served as CFO of GTT Communications, and held roles at Sidera Networks, RCN Corporation, and Nextel Communications.
“Mike is a seasoned and accomplished leader in the digital infrastructure sector. His proven track record of driving transformational growth, scaling operations, and building a culture of excellence is a perfect fit for DQE’s next stage of growth. We look forward to working with him and the entire DQE team,” said Brendan Scollans, managing director and co-head of GI Data Infrastructure.
“I am excited to join DQE as CEO,” added Sicoli. “DQE is a business with strong foundations, thanks to its robust network, loyal customer base, strong reputation, and most importantly, dedicated employees. I look forward to partnering with the DQE team and GI Partners to serve our customers, accelerate DQE’s growth, and drive operational excellence.”
Outgoing CEO Morozz had led the company since 2013. He was previously CEO of the GridWise Alliance, a not-for-profit industry association for electricity businesses. He has previously held roles at D&E Communications and energy firm’s Exelon’s telecoms subsidiary Exelon Communications.
GI, which founded and then divested Digital Realty, owns stakes in a number of data centers, and owns US operator LightEdge.
After becoming CEO in 2020, Sicoli left his former company Internap in August 2023. Founded in 1996, the company filed for Chapter 11 in April 2023 for the second time in three years. Internap recently rebranded to HorizonIQ, pivoting from colocation to bare metal and hosting services.
