Funds managed by SDC Capital Partners have acquired a majority interest in IQ Fiber, a new residential fibre-optic ISP headquartered in Jacksonville, Florida. The transaction provides IQ Fiber with significant equity funding to complete the first phase of its all-fibre network build, which will pass more than 60,000 homes in the Jacksonville area. Going forward, IQ Fiber plans to rapidly expand its fibre network throughout Northeast Florida.
TeleGeograpy notes that New York-based SDC previously acquired a 48% ownership stake in Nebraska-based fibre operator ALLO Communications for USD197 million in October 2020. The investment firm also owns a number of data centres in the US and Brazil, as well as dark fibre platforms SummitIG (Northern Virginia) and BandwidthIG (Northern California and Greater Atlanta) and infrastructure firm Fatbeam (western US).