Infrastructure - JULY 29, 2021

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Apollo invests in U.S. fiber carrier, FirstDigital Telecom

by Kali Persall

Apollo Global Management Inc. has agreed to invest $200 million of preferred equity in FirstDigital Telecom, a fiber-based carrier in the western United States.

Apollo said the strategic investment will support FirstDigital’s growth strategy, including its recent acquisition of Veracity Networks, a transaction that will position the company as the largest fiber operator in Utah.

In addition, the investment will provide the company with liquidity to fund its longer-term growth plans.

“FirstDigital is a leading fiber operator in the southwest region, and we’re excited to leverage our telecoms infrastructure expertise and capital to help the company grow,” said Dylan Foo, senior partner and co-head of infrastructure at Apollo. “This investment provides FirstDigital with greater financial flexibility and strategic advice to bolster their position within the dynamic and competitive telecommunications industry, especially at a time where bridging the nationa

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