CBRE Caledon acquires fibre network developer and operator WANRack
CBRE Caledon Capital Management (CBRE Caledon), the private infrastructure investment arm of CBRE Global Investors, has closed the previously announced acquisition of WANRack, after receiving all regulatory approvals.
WANRack is a fibre operator and developer providing broadband connectivity services, primarily to K-12 school districts across the United States.
CBRE Caledon completed this investment on behalf of a fund sponsored by the firm as well as one of its separately managed accounts. WANRack’s management retains an equity stake in the company, and the business will continue to be led by its original founder and CEO, Rob Oyler.
“We are excited to have completed this acquisition and to partner with WANRack’s management team to support opportunities for growth across E-Rate and the company’s commercial fiber strategy,” says Noi Spyratos, Partner at CBRE Caledon.
CBRE Caledon was advised in this transaction by financial advisor RBC Capital Markets, legal counsel Morgan, Lewis & Bockius, commercial advisor ACM Atlantic and technical advisor Broadband Success Partners.