May 31 2023
SDC Capital Partners Closes Sale of Fatbeam to Basalt Infrastructure Partners
SDC Capital Partners, LLC (“SDC”) announced today that funds advised by Basalt Infrastructure Partners LLC (“Basalt”) have closed the previously announced acquisition of Fatbeam Holdings, LLC (“Fatbeam” or the “Company”) from a fund managed by SDC and other investors (the “Transaction”).
Fatbeam is a broadband service provider that owns and operates a 1,250-route mile fiber network in the western United States. The Company is a leading provider of fiber-based network solutions to education, commercial, carrier, and government customers across eight states.
“We are thrilled to have partnered with SDC, Shawn Swanby and Greg Green in building Fatbeam into a regional leader in the fiber-based broadband space,” said Paul Merritt, CEO of Fatbeam. “We look forward to continuing Fatbeam’s strong growth momentum with Basalt.”
“It was an honor to work with Fatbeam’s management team and our co-investors over the last three years to build a great platform,” said Clinton Karcher, Partner at SDC. “Basalt will be an excellent partner for the Company as it embarks upon its next chapter of growth.”
“We are excited to partner with the Fatbeam management team to continue the Company’s current growth trajectory and strong operational performance,” stated Wil Jones, Partner of Basalt. “Fatbeam is playing a key role in closing the educational digital divide by providing school districts in underserved areas with fast and reliable broadband access.”
Bank Street Group LLC served as exclusive financial advisor and Wilmer Cutler Pickering Hale and Dorr LLP served as legal advisor to Fatbeam.
TD Securities served as exclusive financial advisor and Latham & Watkins LLP served as legal advisor to Basalt.
Fatbeam is a leading fiber infrastructure provider in the western United States serving education, commercial, carrier, and government customers. With over 1,250 fiber route miles connecting more than eight states, Fatbeam’s network is the best choice for customers requiring high bandwidth for their daily operations, with options ranging from Dedicated Internet Access (DIA) to high-capacity dark fiber infrastructure. For more information about Fatbeam, please visit www.fatbeam.com.
About SDC Capital Partners
SDC Capital Partners, LLC is a global digital infrastructure investment firm with approximately $4.2 billion of assets under management as of March 31, 2023. SDC invests in data centers, fiber networks, wireless infrastructure, and associated businesses, with a focus on opportunities to leverage its deep operational expertise in partnership with exceptional teams to create value. For more information, please visit www.sdccapitalpartners.com.
Basalt is the investment advisor to infrastructure equity investment funds focusing on mid-market investments in utilities, power, transport, and communications infrastructure in North America and Europe. Other investments in North America by funds advised by Basalt include Hyperion Power, Helios Power, Black Bear Transmission, Habitat Solar, Xpress Natural Gas, and Skyway Towers. For more information, please visit www.basaltinfra.com