DigitalBridge invests $220M in fiber operator Everstream
NEW YORK – DigitalBridge Group, Inc. (NYSE: DBRG) today announced that, its Digital Credit division (“DigitalBridge Credit”), in partnership with CPPIB Credit Investments III Inc., a wholly owned subsidiary of Canada Pension Plan Investment Board (“CPP Investments”), it has invested $220 million in the form of a holding company term loan to support the continued growth of Everstream Solutions, LLC (“Everstream”).
Founded in 2014 and headquartered in Cleveland, Ohio, Everstream delivers a business-only, enterprise-grade fiber network with the speed, reliability, scale and performance that today’s enterprises demand. The Company serves large and mid-sized enterprises with over 27,000 route miles of fiber, speeds up to 100 Gbps, and robust business fiber services, including low-latency dedicated internet, WAN and dark fiber.
Brett Lindsey, Everstream's Chief Executive Officer, said, "We selected DigitalBridge Credit as our partner because of its unsurpassed sector expertise, leading credit structuring capabilities and ability to execute on an accelerated timeline. We look forward to benefitting from the team’s deep industry knowledge as we move forward with additional financial flexibility to continue growing our business-only fiber network, expand into new markets, serve more customers and create value for all Everstream stakeholders."
DigitalBridge Credit provides senior and junior debt financing solutions for borrowers in the digital infrastructure ecosystem across North America and Europe. The firm supports companies with strong management teams, stable and defensible business models, and exposure to macrotrends of the digital economy.