AMP Capital, a global investment manager based in Australia, has completed its purchase of Everstream Solutions, a network service provider bringing fiber-based Ethernet, internet and data-center services to businesses throughout the Midwest.
Everstream plans to use the investment from AMP for acquisitions, greenfield network builds and to fund organic network growth and development in its existing markets.
Brett Lindsey, Everstream’s president and CEO, tells Channel Partners his company will continue with its plan to consolidate the Midwest, “providing more opportunity for our partners to sell fiber-based services across an expanded footprint.”
“Partners look forward to having access to a larger network as we expand organically, through acquisitions and new greenfield markets,” he said. “AMP Capital shares a longer-term perspective for Everstream, bringing financial strength and strategic know-how to our business to position Everstream for years of continued success. We look forward to joining forces with AMP Capital and, with their support, continuing on our trajectory of positive growth.”
Everstream will serve as AMP’s platform for the consolidation of telecom assets in North America. AMP has a growing international presence, including in North America. In the United States, it has offices in New York, Chicago and Irvine, California. Its U.S. infrastructure equity investments include Chicago’s Millennium Garages, the largest underground parking system in the United States, and ITS ConGlobal, a shipping and intermodal terminal operator.
“Everstream fills a key piece of AMP Capital’s strategy in North America,” said Dylan Foo, AMP’s partner and head of Americas infrastructure equity. “We have long seen the potential in North America and have had investments and a presence in the region for a number of years. We continually look for quality investments and remain focused on the transportation, energy and communications sectors in the region.”
With more than 10,000 route miles and data-center connectivity at 100 gigabit speed, Everstream’s network allows businesses to operate a converged IP network capable of delivering voice, video and data services at speeds from 10 Mbps to 100 Gbps.