GRAND
RAPIDS, Mich., June 3, 2024
/PRNewswire/ -- US Signal Company, LLC (US Signal), a leading
digital infrastructure provider and portfolio company of Igneo
Infrastructure Partners, has entered into a definitive agreement to
acquire OneNeck IT Solutions LLC and OneNeck Data Center Holdings
LLC (OneNeck) from Telephone and Data Systems, Inc. (NYSE: TDS), a
provider of wireless, broadband, video, voice, hosted and managed
services to U.S. businesses. The firms expect the transaction to
close in the third quarter of 2024 subject to customary closing
conditions. No terms were disclosed.
Headquartered in Madison,
Wisconsin, OneNeck provides secure hybrid IT and multi-cloud
solutions through data centers in six Western and Midwestern
states. Serving more than 1,000 customers across 45 states, OneNeck
caters to sectors including banking, education, engineering, food
and beverage, government, healthcare, manufacturing, and
retail.
Headquartered in Grand Rapids,
Michigan, US Signal provides data center, connectivity,
cloud hosting, colocation, data protection, and disaster recovery
services to regional enterprise customers and large national
telecommunications carriers. It operates a 9,500-route mile fiber
network and has nine data centers across Michigan, Illinois, Indiana and Wisconsin.
The acquisition will:
- Increase the number of US Signal data centers from nine to 15,
quadrupling square footage
- Extend US Signal's footprint to the West Coast with the
addition of Phoenix, Arizona;
Denver, Colorado; and Bend, Oregon data centers
- Add OneNeck's Madison,
Wisconsin; Minneapolis,
Minnesota; and Des Moines,
Iowa markets to US Signal's fiber network
- More than triple commercial power under management
"We were attracted to OneNeck for a host of reasons, with our
shared culture of customer service excellence at the top of the
list," said Daniel Watts, CEO of US
Signal. "OneNeck is also a product innovator with deep knowledge of
numerous industries. Together, we will provide our customers with
greater scale and technical capabilities."
"US Signal is well known for putting its customers first and
supporting their rapidly evolving needs," said Ted Wiessing, CEO of OneNeck. "OneNeck's
customers will benefit greatly from our combined capabilities and
US Signal's commitment to invest in growth."
"We see tremendous growth opportunities ahead for US Signal in
the critical digital infrastructure sector. This acquisition is an
important step toward fulfilling the company's expansion plans in
the U.S. middle market," said Michael
Ryder, US Signal board chair and co-head of Igneo in
North America.
US Signal was advised by the law firm of Mayer Brown. Its
financial advisor was DC Advisory. TDS was advised by TD Securities
as its sole financial advisor.
About OneNeck
OneNeck IT Solutions LLC and OneNeck Data Center Holdings LLC,
wholly owned subsidiaries of Telephone and Data Systems, Inc.
(NYSE: TDS), specialize in multi-cloud solutions, managed services,
professional IT services, hardware, and local connectivity via
top-tier data centers in Arizona,
Colorado, Iowa, Minnesota, Nebraska, Oregon and Wisconsin. For more information, visit
oneneck.com.
About US Signal
US Signal, founded in 2001, is a leading digital infrastructure
provider, offering connectivity, cloud hosting, colocation, data
protection, and disaster recovery services powered by its wholly
owned and operated robust fiber network. US Signal also helps
customers optimize their IT resources through the provision of
managed and professional services. For more information,
visit www.ussignal.com.
About Igneo Infrastructure Partners
Igneo is an autonomous investment team in the First Sentier
Investors Group. It invests in high-quality, mature, mid-market
infrastructure companies in renewables, digital infrastructure,
waste management, water utilities and transportation/logistics
sectors in the UK, Europe,
North America, Australia and New
Zealand. Operating since 1994, the team works closely with
portfolio companies to create long-term sustainable value through
innovation, a focus on responsible investment and proactive asset
management. As of Dec. 31, 2023,
Igneo managed more than $19.5 billion
in assets for 200 investors around the world. For more information,
visit igneoip.com.
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SOURCE US Signal Company, LLC