Digital Colony, the global digital infrastructure investment platform of Colony Capital, Inc. (NYSE: CLNY), has announced a strategic recapitalization of Beanfield Metroconnect, an independent telecommunications infrastructure provider in Canada, the company said.
In connection with this transaction, the Company has acquired the metro network of Aptum Technologies (“Aptum”), a global hybrid cloud and managed services provider.
The strategic recapitalization includes CUSD 255 million of financing, positioning Beanfield to capitalize on a variety of new segment and revenue opportunities. Through the acquisition of Aptum´s metro network, Beanfield will enhance connectivity services and fiber solution capabilities in Toronto while expanding its presence in Montreal following the recent acquisition of regional telecom fiber services provider OpenFace Inc.
In partnership with Digital Colony, Beanfield has significantly scaled its platform to seamlessly connect individuals and businesses in Canada´s two largest urban markets. Since Digital Colony made a substantial investment in 2019, the Company has grown its network footprint ten-fold from approximately 400 route KM to more than 4,000 across both markets. The Company´s ability to service on-net buildings has also increased almost six-fold from approximately 550 buildings to 3,200 buildings.
Leveraging existing relationships with institutional lenders, Digital Colony secured the financing, which includes a first lien term loan and a revolving credit facility. TD Securities served as joint lead arranger, joint bookrunner and administrative agent, while RBC Capital Markets and SunTrust Robinson Humphrey served as joint lead arranger and joint bookrunner.
Digital Colony is the world´s largest digital infrastructure investment firm with over USUSD 20 billion in assets under management. Launched in 2018 by Digital Bridge and Colony Capital, Digital Colony brings together Digital Bridge´s industry, operational and investment expertise, and Colony Capital´s (NYSE: CLNY) global operating platform and capital markets access. For more information, visit www.digitalcolony.com.
Founded in 1988, Beanfield is a privately held and 100% Canadian-operated company. Beanfield provides comprehensive telecom services to over 3,200 commercial and residential buildings and operates four boutique colocation facilities at key connection points within its fiber network. For more information visit www.beanfield.com.