CBRE Caledon Capital Management has closed its acquisition of WANRack, a Lenexa, Kansas-based fiber operator and provider of broadband connectivity services to K-12 school districts. No financial terms were disclosed. CBRE Caledon is the Toronto-based infrastructure and private equity arm of CBRE Group.
TORONTO – July 1 , 2021 – CBRE Caledon Capital Management Inc. (“CBRE Caledon”), the private infrastructure investment arm of CBRE Global Investors, is pleased to announce the closing of the previously announced acquisition of WANRack, LLC. after receiving all regulatory approvals. WANRack is a fiber 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,” said 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.
About CBRE Caledon
CBRE Caledon Capital Management Inc. is a leading infrastructure and private equity solutions provider. We create long-term value for clients by accessing and managing high-quality investment opportunities and building comprehensive infrastructure and private equity portfolios. Today, our dedicated team of 54 professionals represents $8.4 billion on behalf of institutional investors globally. CBRE Caledon is a separate business unit within CBRE’s independently operated investment management subsidiary, CBRE Global Investors. For more information about CBRE Caledon, please visit www.cbrecaledon.com.
About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $124.5 billion in assets under management* as of March 31, 2021. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2020 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees serving clients in more than 100 countries. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.