CBRE Investment Management Fund has signed an agreement to acquire Missouri-based Gateway Fiber from Crosstimbers Capital Group.
The acquisition provides expansion in the fiber-to-home space covering 12 cities in Missouri. This purchase will bring significant value to Gateway through portfolio company WANRack, which owns and operates an extensive network of middle-mile fiber across the USA. Gateway has a strong track record of partnering with federal, state and local governments to bring its fiber network and has been awarded three government grants totaling US$37 million.
The acquisition is expected to close in February 2023 following regulatory approvals. CBRE Investment Management was advised in this transaction by financial advisor TD Securities, legal counsel Morgan, Lewis & Bockius, commercial advisor ATLANTIC-ACM and technical advisor Broadband Success Partners. Gateway was advised in this transaction by financial advisor Bank Street and legal counsels Jackson Walker and K&L Gates.
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