Investment firm Igneo Infrastructure Partners has completed its acquisition of data center and network services provider US Signal.
First announced in September 2022, the investment marks Igneo’s first in the US telecoms and digital infrastructure sector. Neither company has detailed any expected changes to the company in light of the acquisition.
US Signal is based in Grand Rapids, Michigan, and has eight data centers across the mid-west. From these facilities, the company offers cloud, colocation, and connectivity services among others. The acquisition will also see Igneo gaining US Signal’s 9,500-mile fiber network.
Paul Van Hyfte, president of US Signal, said: "We are thrilled to partner with Igneo to support our strategic goals, including investment in and expansion of our data centers and fiber network, as we continue to provide unparalleled service to our customers."
Igneo is part of First Sentier Investors. As of December 2022, the company manages $16.5bn in mid-market infrastructure assets across Europe, North America, Australia, and New Zealand. In 2020, Igneo invested in telecoms company Tuatahi First Fibre, a New Zealand-based company.
"Igneo enters 2023 with strong momentum. We are excited to add US Signal to our growing portfolio in North America, where we continue to see strong tailwinds in the digital infrastructure sector," said Michael Ryder, partner and co-head of Igneo in North America.
"This is our third global investment in the digital sector. Our focus remains on high-quality, mid-market, critical infrastructure businesses like US Signal."
Igneo was advised by KeyBanc Capital Markets and Mayer Brown in the deal, and US Signal by Bank Street and Dickinson Wright.