PITTSBURGH, May 1, 2024
/PRNewswire/ -- DQE Communications ("DQE" or the "Company"), a
leading regional provider of high-speed, data networking for
businesses and carriers, announced today the completion of its
acquisition by GI Partners, a leading investor in data
infrastructure businesses. Concurrently, Michael T. Sicoli has been appointed as CEO of
the Company, effective immediately.
Formed in 1997 as a subsidiary of Duquesne Light Holdings, DQE
has extended its geographic reach beyond its core Pittsburgh footprint and evolved into the
surrounding region's largest independent fiber provider offering a
full suite of infrastructure-oriented communication services. This
includes a 4,700-route-mile fiber network that connects more than
3,000 on-net businesses, towers, and data centers with multiple
expansion projects underway in strategically adjacent markets. The
deal, first announced in December
2023, will bolster expansion of DQE's fiber network
operations to capitalize on growing demand for high-capacity,
carrier-class bandwidth services by customers in the enterprise,
carrier, wireless, education, municipal, and government
sectors.
Mr. Sicoli has held executive leadership roles at several
leading telecommunications businesses. Prior to joining DQE, Mr.
Sicoli was the President & CEO of Internap. Before joining
Internap in 2019, he served as CFO of GTT Communications. Earlier
in his career, Mr. Sicoli held various leadership roles including
CEO at Sidera Networks, CFO at RCN Corporation, and VP &
Assistant Treasurer at Nextel Communications. Mr. Sicoli holds a
Bachelor of Arts in Economics from The College
of William & Mary and an MBA from University of Virginia, Darden Graduate School of
Business Administration.
"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," said Mr. 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."
About DQE Communications
Headquartered in Pittsburgh,
Pennsylvania, DQE Communications is a leading regional
provider of high-speed, data networking for businesses and
carriers. The Company's continually expanding fiber-optic network
currently spans thousands of miles, 3,000+ on-net buildings and 125
business parks. DQE Communications offers a robust portfolio of
Internet and Data Network Solutions. DQE Communications was
established in 1997 to provide businesses with secure, reliable and
flexible network services. For more information, visit
DQECOM.com.
About GI Partners
Founded in 2001, GI Partners is a private investment firm with
over 150 employees and offices in San
Francisco, New York,
Dallas, Chicago, Greenwich, Scottsdale, and London. The firm has raised more than
$43 billion in capital and invests on
behalf of leading institutional investors around the world through
its private equity, real estate, and data infrastructure
strategies. The private equity strategy invests primarily in
companies in the healthcare, services and software sectors. The
real estate strategy focuses primarily on technology and life
sciences properties as well as other specialized types of real
estate. The data infrastructure strategy invests primarily in hard
asset infrastructure businesses underpinning the digital economy.
For more information, please visit www.gipartners.com.
Media Contacts:
Chris Tofalli
Chris Tofalli Public Relations
914-834-4334
chris@tofallipr.com
Gretchen Robinson
Investor Relations
pr@gipartners.com
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SOURCE GI Partners