US Signal Completes Acquisition of OneNeck

PRNewswire 3-Sep-2024 10:00 AM

GRAND RAPIDS, Mich., Sept. 3, 2024 /PRNewswire/ -- US Signal Company, LLC (US Signal), a leading digital infrastructure provider and portfolio company of Igneo Infrastructure Partners, has completed its acquisition of OneNeck IT Solutions LLC and OneNeck Data Center Holdings LLC (OneNeck) from Telephone and Data Systems, Inc. (NYSE:TDS), a provider of wireless, broadband, video, voice, hosted and managed services to U.S. businesses.

Headquartered in Madison, Wisconsin, OneNeck provides secure hybrid IT and multi-cloud solutions through data centers in six Western and Midwestern states. Serving more than 1,000 customers across 45 states, OneNeck caters to sectors including banking, education, engineering, food and beverage, government, healthcare, manufacturing, and retail.

Grand Rapids, Michigan-based US Signal provides data center colocation, connectivity, cloud hosting, data protection, and disaster recovery services to regional enterprise customers and large national telecommunications carriers. It operates a 9,500-route mile fiber network and has 10 data centers across Michigan, Illinois, Indiana and Wisconsin.

The acquisition:

• Increases the number of US Signal data centers from 10 to 16, quadrupling square footage
• Extends US Signal's footprint to the West Coast with the addition of Phoenix, Arizona; Denver, Colorado; and Bend, Oregon data centers
• Adds OneNeck's Madison, Wisconsin; Minneapolis, Minnesota; and Des Moines, Iowa markets to US Signal's fiber network, and
• More than triples commercial power under management

"We welcome our new colleagues to the US Signal team," said Daniel Watts, CEO. "Together, we will provide customers with more capabilities to serve their evolving needs while maintaining our combined culture of client service excellence."

US Signal was advised by the law firm of Mayer Brown. Its financial advisor was DC Advisory, and Texas Capital Securities served as the Exclusive Placement Agent.

About US Signal

US Signal, founded in 2001, is a leading digital infrastructure provider, offering connectivity, cloud hosting, colocation, data protection, and disaster recovery services powered by its wholly owned and operated robust fiber network. US Signal also helps customers optimize their IT resources through the provision of managed and professional services. For more information, visit www.ussignal.com.

About Igneo Infrastructure Partners

Igneo is an autonomous investment team in the First Sentier Investors Group. It invests in high-quality, mature, mid-market infrastructure companies in renewables, digital infrastructure, waste management, water utilities and transportation/logistics sectors in North America, the UK, Europe, Australia and New Zealand. Operating since 1994, the team works closely with portfolio companies to create long-term sustainable value through innovation, a focus on responsible investment and proactive asset management. As of June 30, 2024, Igneo managed more than $19.2 billion in assets for 200 investors around the world. For more information, visit igneoip.com. 

Media inquiries
BNO:
Sheri Wachenheim
E: swachenheim@bnoinc.com
T: +1 973-670-5413

Newton Park PR:
Margaret Kirch Cohen
E: margaret@newtonparkpr.com
T: +1 847-507-2229

Important information

This press release is intended for information only, aimed solely at the media and should not be further distributed to individual and/or corporate investors, and financial advisers and/or distributors. The information included within this document and any supplemental documentation provided should not be copied, reproduced or redistributed without the prior written consent of US Signal.

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SOURCE US Signal