SDC Capital Partners has acquired a majority stake in IQ Fiber, a new residential fiber optic internet provider based in Jacksonville, Fla.
The transaction provides IQ Fiber with significant equity funding to complete the first phase of its all-fiber network buildout, passing more than 60,000 homes in the Jacksonville area.
“We are thrilled to partner with IQ Fiber in its initial launch in Jacksonville and are excited about the larger opportunity in Northeast Florida and beyond,” said Clinton Karcher, partner at SDC. “IQ Fiber’s commitment to providing exceptional customer service, coupled with state-of-the-art fiber network infrastructure in an underserved market, creates a formula for success.”
Financial terms of the transaction were not disclosed.