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South Reach Networks Acquired by Blue Owl Digital Infrastructure

1. Blue Owl Capital acquires South Reach Networks for fiber expansion. 2. SRN's network spans 370 miles, connecting significant data centers in Florida. 3. Investment aimed at scaling SRN's capabilities for hyperscale customer demand. 4. New CEO Scott Bergs to lead SRN post-acquisition to enhance growth. 5. Blue Owl targets the Southeast to boost infrastructure for enterprise clients.

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FAQ

Why Bullish?

This acquisition supports OWL's growth strategy, resembling previous successful expansions in the telecom sector, like the acquisition of TelePacific Communications, which led to increased valuations.

How important is it?

This acquisition is pivotal for OWL’s strategy; investments in infrastructure in growing markets like Florida can catalyze significant long-term growth and profitability.

Why Long Term?

The investment in SRN aligns with long-term infrastructure expansions, similar to prior fiber optic investments that benefited companies over several years.

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CARRAMTSBAC
, /PRNewswire/ -- Intermetro Fiber LLC d/b/a South Reach Networks ("SRN"), a Florida-based fiber infrastructure provider, announced today that it has been acquired by a fund managed by Blue Owl Capital's Digital Infrastructure strategy ("Blue Owl"). SRN is a dark and lit fiber optic infrastructure provider with a network spanning 370 miles across Florida. The network currently runs from Jacksonville to Miami, interconnecting with five SRN owned colocation edge facilities along the route. Today, the network is on or near-net to 40 data centers, colocation facilities, and cable landing stations. Blue Owl plans to invest significant capital into SRN, adding major new builds across the network. Following the close of the acquisition, Scott Bergs, the current CEO of Dark Fiber and Infrastructure ("DF&I"), another Blue Owl portfolio company operating along the east coast in Virginia and Maryland, will assume the role of CEO of SRN, in addition to his role at DF&I. The acquisition will provide incremental scale and deepen Blue Owl's existing fiber capabilities, bolstering its ability to address the needs of the hyperscale and enterprise customers it serves. Mr. Bergs commented, "South Reach Networks has established itself as the premier communications infrastructure provider in Florida, delivering critical dark fiber, colocation and related services to subsea cable providers and users, data centers, carriers and other private network operators. With Blue Owl, we will scale the business to meet the ever-growing need for more fiber from Jacksonville to Miami and beyond." Mike Sevret, CRO of South Reach Networks commented, "I am incredibly proud of our team and what we all have accomplished at South Reach Networks over the years. With the new ownership, support, and vision of Blue Owl and the leadership team. I am truly excited for this next chapter and ready to expand and grow our digital footprint." Chris Jensen, Managing Director, Digital Infrastructure at Blue Owl, who leads the firm's fiber investments added, "We are excited to support South Reach Networks in its expansion across Florida. The Southeast is a priority region for our hyperscale customers, and we look forward to further leveraging the strength of the business to expand across the region." Akin Gump Strauss Hauer & Feld LLP served as legal advisor to Blue Owl. Winston & Strawn LLP served as legal advisor and Bank Street Group LLC served as exclusive financial advisor to Turning Rock Partners and South Reach Networks. About South Reach Networks South Reach Networks is an established, Florida-based telecommunications infrastructure provider. South Reach Networks fully constructs, owns and operates its Metro & Long-Haul Fiber Optic Network. With direct routes into its Carrier Class & Neutral Data Centers, the robust network spans 370 miles along the East Coast of Florida. South Reach Networks provides customers with global and domestic reach to the ever-expanding ecosystem of carriers, subsea, enterprise and wireless operators.  To learn more, visit https://SRNetworks.net.  About Blue Owl Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives®. With over $273 billion in assets under management as of March 31, 2025, we invest across three multi-strategy platforms: Credit, Real Assets, and GP Strategic Capital. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation. Together with over 1,200 experienced professionals globally, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com SOURCE South Reach Networks WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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