AMP Capital enters purchase agreement with Everstream investors
Everstream Solutions has announced its investors, M/C Partners, and limited partners, JP Morgan Asset Management and Morgan Stanley Alternative Investment Partners, have entered into a definitive agreement to sell the network service provider to AMP Capital.
The transaction, of which the terms were not disclosed, is expected to close in the second quarter of 2018 once necessary regulatory approvals are obtained.
President and chief executive officer of Everstream, Brett Lindsey, said the team was thankful to M/C for the opportunity to partner with them, but looked forward to joining forced with AMP Capital.
“With their support, Everstream looks forward to continued positive growth through acquisitions, greenfield network builds and organic growth in our existing markets,” said Lindsey.
Head of Americas infrastructure equity, AMP Capital, Dylan Foo, said Everstream would be their platform for the consolidation of telecom assets in North America.
“Communications infrastructure has become an essential service in the modern world, including Fiber, Wireless and Data Centers,” said Foo. “AMP Capital has a strong global pedigree in this target sector, and we are pleased to secure our first North American Fiber asset.”
Recommended for you
Iress has announced it is strengthening its security settings after suffering an unauthorised access of its systems over the weekend.
Financial advice platform Otivo has made an experienced appointment from the US as its head of product strategy.
Apostle Funds Management has appointed the newly created position of director, head of wholesale as the firm expands its Australian footprint in the wholesale sector.
Recruitment manager Robert Half has shared the most in-demand roles in financial services that firms are finding difficult to fill, driven by ASIC’s growing focus on risk and compliance.
