Summit Infrastructure Group and SDC Capital Partners, a specialized private investment firm focused on the IT and communications infrastructure sectors, have closed their previously announced transaction through which funds managed by SDC have acquired a majority interest in SummitIG. Columbia Capital, the previous lead investor, has retained a material ownership stake in SummitIG.
SummitIG is a dark fiber infrastructure provider to carriers, data center operators, content providers and large enterprises in Northern and Central Virginia. SummitIG’s extensive network infrastructure includes more than 500 route miles of unique, newly constructed and 100 percent underground metro and long-haul routes that enable custom-designed, fiber-based solutions for its expansive customer base.
Effective upon the transaction close, Sunny Kumar, formerly SummitIG’s COO, is elevated to the role of CEO for SummitIG, and CFO Michael Rees assumes the additional role and responsibilities of COO. Kumar succeeds Bill Cook, who will remain involved with SummitIG in an advisory capacity, helping the company chart and execute on its continued path of expansion.
“We are thrilled to have closed our transaction and look forward to working with SDC in our next phase of company growth,” said Kumar. “Our singular focus remains serving the ever-growing needs of our customers and aligning with SDC will enable us to aggressively expand our platform to best serve them in Virginia as well as other key markets.”
“Summit has built a highly differentiated network infrastructure in the world's largest data center market,” said Todd Aaron, SDC's managing partner. “We couldn't be happier to finalize our partnership with Sunny, Mike and the team, and are eager to help accelerate the company's expansion plans.”
