Digital Colony, Colony Capital‘s global digital infrastructure investment platform, has acquired Toronto-based Beanfield Technologies, an independent bandwidth infrastructure provider. No financial terms were disclosed. Davies Ward Phillips & Vineberg LLP served as legal counsel to Digital Colony Partners while DLA Piper provided legal counsel to Beanfield, with The Bank Street Group LLC acted as the firm’s financial adviser.
BOCA RATON, Fla., Nov. 12, 2019 /PRNewswire/ — Digital Colony, the global digital infrastructure investment platform of Colony Capital, Inc. (NYSE: CLNY) and a leading investor, owner and operator of companies enabling the next generation of mobile and internet connectivity, today announced Digital Colony Partners’ acquisition of Beanfield Technologies Inc. (“Beanfield”), an independent bandwidth infrastructure provider in Canada serving the enterprise, carrier and multi-dwelling units (“MDU”) markets. Financial terms of the private transaction were not disclosed.
Beanfield’s portfolio includes 366 route kilometers of pervasive and dense metro fiber infrastructure in Toronto and Montreal and over 76,000 strand kilometers of fiber infrastructure, representing an average of 208 strands per route kilometer. The company also has 541 on-net locations, including 367 commercial locations, 161 MDUs and 13 data centers. Beanfield owns 100% of its assets.
“Beanfield’s network connects to virtually all of Toronto’s major commercial buildings, apartment complexes and data centers, and the company serves some of the largest and highest value customers in the Canadian market,” said Steven Sonnenstein, a Managing Director at Digital Colony. “The company’s executive team, led by founder and CEO Dan Armstrong, has done a fantastic job creating a leading, Tier 1-market bandwidth provider that is primed to capitalize on an evolving Canadian telecommunications market. As the region’s MNOs look for new and shared infrastructure solutions, we are excited to support Beanfield and help the company continue to grow.”
“As our customers require more bandwidth and faster speeds, our goal is to not only meet their increasing needs, but also find new ways to support them with access to additional resources and Digital Colony’s vast experience in indoor and outdoor small cells,” said Armstrong. “We are extremely happy to partner with Digital Colony. Their support, guidance and sector expertise will be key assets as we enter new markets and verticals, and broaden our carrier, commercial and large-scale residential customer base.”
Davies Ward Phillips & Vineberg LLP served as legal counsel to Digital Colony Partners and TD Securities led on debt financing. DLA Piper served as legal counsel to Beanfield and The Bank Street Group LLC acted as the firm’s financial advisor.
About Digital Colony
Digital Colony is the global digital infrastructure investment platform of Colony Capital, Inc. (NYSE: CLNY) and a leading investor, owner and operator of companies enabling the next generation of mobile and internet connectivity. The vehicle was launched in 2018 by Digital Bridge Holdings, LLC and Colony Capital to bring together Digital Bridge’s industry, operational and investment expertise in the telecommunications sector with Colony Capital’s global scale, operating platform and capital markets access. For more information, please visit www.digitalcolony.com.
About Beanfield Technologies Inc.
Beanfield installs, owns and operates the largest private fiber optic network in Toronto, and provides comprehensive telecom services to over 700 commercial and residential buildings. Founded in 1988, Beanfield prides itself on exceptional speed and outstanding customer service. The company also operates four data centers and is facilities-based, maintaining and managing its own in-house construction and fiber maintenance teams. For more information visit www.beanfield.com.