ATLANTA--(BUSINESS WIRE)--DC BLOX, a leading provider of secure and reliable data centers across the Southeast, announces it has acquired the Southeastern fiber assets from Light Source Communications and Ascendant Capital Fiber, including a unique dark fiber network connecting South Carolina to Georgia that is currently in development.
Following DC BLOX’s recent announcement that it is building a new Cable Landing Station (CLS) in Myrtle Beach, South Carolina, this acquisition positions DC BLOX as a premier vertically integrated digital infrastructure, data center and connectivity provider in the Southeastern United States. Construction is already underway on the high-capacity, long-haul dark fiber route that will run from the Myrtle Beach CLS through Charleston, Augusta, and downtown Atlanta’s major connectivity centers, landing in Lithia Springs, GA. The CLS and the terrestrial dark fiber route are both planned to be completed in 2023.
As part of the dark fiber transaction, Light Source’s co-founder and Chief Executive Officer Debra Freitas, and co-founder, President and Chief Operating Officer Pete Empie, will join DC BLOX and will be responsible for continuing to drive the development of new fiber network infrastructure to support the company’s customers and facilities. In addition, DC BLOX has added Mark Fortier, who most recently served as Vice President, Technology Infrastructure Sales at FiberLight, to develop carrier and hyper-scaler relationships for connectivity and data center solutions. Post Road Group, Bain Capital, and Ascendant Capital Partners, Light Source’s principal investor, are providing DC BLOX with the financial support to accelerate deployment of digital infrastructure across the Southeast.
“Pete and I are thrilled to join forces with DC BLOX, a company we have long admired that has been leading digital infrastructure enablement throughout the Southeast,” stated Debra Freitas, CEO of Light Source. “This new fiber route will serve hyperscale customers and communications providers who need high-capacity, economical access to Atlanta from cities and counties to the East all the way to the coast. It will also benefit underserved rural areas across South Carolina and Georgia that are working to build out regional broadband networks for their communities.”
The nearly 500-mile route from Myrtle Beach to Atlanta will carry high-capacity dark fiber as well as a duct bank for future cables and can also serve as a diverse geographic route from Ashburn, Virginia, to the Southeastern region. This project represents another significant investment in digital infrastructure by DC BLOX in South Carolina, following the opening of its Greenville data center in January 2022 and the announcement of the Myrtle Beach CLS.
“The acquisition of these fiber assets and the capabilities of our new team members will provide DC BLOX a more comprehensive ability to meet the data center and communications infrastructure requirements of a broader set of customers across the Southeast region,” said Jeff Uphues, CEO of DC BLOX. “We look forward to the contributions and leadership of Debra, Pete and Mark to significantly expand our digital infrastructure services capabilities. Moreover, we are grateful for the support we have received from our existing investors, Post Road Group and Bain Capital, and welcome Ascendant Capital Partners, who share our vision and are instrumental to the successful execution of our ambitious growth plans.”
About DC BLOX
DC BLOX owns and operates interconnected multi-tenant data centers that deliver the infrastructure and connectivity essential to power today’s digital business. DC BLOX’s private network fabric and robust connectivity ecosystem enable access to built-in carriers, Internet exchanges, public cloud providers, and DC BLOX data centers to businesses across the Southeast. DC BLOX’s data centers are located in Atlanta, GA; Birmingham, AL; Huntsville, AL; Chattanooga, TN; Greenville, SC with High Point/Greensboro, NC and a new cable landing station in Myrtle Beach, SC under construction. For more information, please visit www.dcblox.com, call +1.877.590.1684, and connect with DC BLOX on Twitter, LinkedIn, and Facebook.
About Post Road
Post Road Group is an alternative investment firm focused on middle-market corporate strategies and real estate. The Firm’s corporate credit and structured equity platform invests in high-growth businesses and special situations across the telecommunications, media, technology, and business services sectors, including telecom infrastructure projects. Post Road’s real estate credit platform provides construction financing and bridge loans to third-party developers and owners, and Post Road’s multifamily platform owns, operates, and develops multifamily assets across the United States. Based in Stamford, Connecticut, the Firm has completed approximately $1.5 billion of investments since its founding in 2015. For more information, please visit www.postroadgroup.com.
About Bain Capital
Bain Capital, LP is one of the world’s leading private multi-asset alternative investment firms that creates lasting impact for our investors, teams, businesses, and the communities in which we live. Since our founding in 1984, we’ve applied our insight and experience to organically expand into numerous asset classes including private equity, credit, public equity, venture capital, real estate and other strategic areas of focus. We have been investing in the telecommunications sector for over 20 years, through a variety of creatively structured transactions involving companies at various stages of their growth trajectory with different capital requirements. The firm has offices on four continents, more than 1,300 employees and approximately $160 billion in assets under management. To learn more, visit www.baincapital.com
About Ascendant Capital Partners
Ascendant Capital Partners (“Ascendant”) is a vertically integrated real estate investment and operating firm focused on urban hospitality, digital infrastructure, and technology-enabled multifamily assets. Founded in 2019 and located in Los Angeles, Ascendant's partners have collectively acquired more than $12 billion of assets and have deployed more than $1 billion since the firm’s launch. For more information visit www.ascendantcapital.com.