Dutch investment expected to fuel Valley Fiber growth
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Hey there, time traveller!
This article was published 27/04/2020 (1983 days ago), so information in it may no longer be current.
Winkler-based Valley Fiber Ltd. has attracted a “majority investment” from Dutch-based private equity firm, DIF Capital Partners.
No terms were disclosed, but Valley Fiber CEO Hank Wall said the availability of additional capital is going to mean significant growth opportunities for the company.
“The big part of this for us is that it means we have a capital partner that will allow us to keep on building out to more communities in Southern Manitoba,” Wall said.
He said the company’s current workforce of more than 50 people will be doubling over the next few months.
Valley Fiber already operates in more than 20 municipalities in Manitoba. The company, which was incorporated in 2016, has partnered with the city of Winkler and is on pace to connect fiber to every home and business in that city.
It also recently completed a partnership with the Municipality of Rhineland that will bring fiber to the home to Gretna, Rosenfeld, Plum Coulee, Horndean, Blumenort and several other towns.
The DIF transaction also includes the acquisition of 40 operating fixed-wireless towers.
Wall said there will be more announcements of more communities that Valley Fiber will be serving as the year goes on.
Valley Fiber is a telecommunications infrastructure company that specializes in the development, construction and operations of fiber and fixed-wireless infrastructure for residential and commercial use. Valley Fiber has received support from municipal and federal levels of government in Canada. DIF Capital Partners’ investment will allow Valley Fiber to connect more than 15,000 homes and businesses to fiber over the next two years.
DIF Capital Partners is a leading global independent infrastructure fund manager, with $11.3 billion of assets under management across nine funds. Valley Fiber is the first investment for DIF’s new Core Infrastructure Fund II.
Wall said the new investment will create aggressive growth opportunities for the company’s fiber network buildout.
martin.cash@freepress.mb.ca
