DQE Communications Announces Close of Acquisition by GI Partners & Appointment of Michael T. Sicoli as Chief Executive Officer

News provided by

May 01, 2024, 14:50 ET

PITTSBURGH, May 1, 2024 /PRNewswire/ -- DQE Communications ("DQE" or the "Company"), a leading regional provider of high-speed, data networking for businesses and carriers, announced today the completion of its acquisition by GI Partners, a leading investor in data infrastructure businesses. Concurrently, Michael T. Sicoli has been appointed as CEO of the Company, effective immediately.

Formed in 1997 as a subsidiary of Duquesne Light Holdings, DQE has extended its geographic reach beyond its core Pittsburgh footprint and evolved into the surrounding region's largest independent fiber provider offering a full suite of infrastructure-oriented communication services. This includes a 4,700-route-mile fiber network that connects more than 3,000 on-net businesses, towers, and data centers with multiple expansion projects underway in strategically adjacent markets. The deal, first announced in December 2023, will bolster expansion of DQE's fiber network operations to capitalize on growing demand for high-capacity, carrier-class bandwidth services by customers in the enterprise, carrier, wireless, education, municipal, and government sectors.

Mr. Sicoli has held executive leadership roles at several leading telecommunications businesses. Prior to joining DQE, Mr. Sicoli was the President & CEO of Internap. Before joining Internap in 2019, he served as CFO of GTT Communications. Earlier in his career, Mr. Sicoli held various leadership roles including CEO at Sidera Networks, CFO at RCN Corporation, and VP & Assistant Treasurer at Nextel Communications. Mr. Sicoli holds a Bachelor of Arts in Economics from The College of William & Mary and an MBA from University of Virginia, Darden Graduate School of Business Administration.

"Mike is a seasoned and accomplished leader in the digital infrastructure sector. His proven track record of driving transformational growth, scaling operations, and building a culture of excellence is a perfect fit for DQE's next stage of growth. We look forward to working with him and the entire DQE team," said Brendan Scollans, Managing Director and Co-Head of GI Data Infrastructure.

"I am excited to join DQE as CEO," said Mr. Sicoli. "DQE is a business with strong foundations, thanks to its robust network, loyal customer base, strong reputation, and most importantly, dedicated employees. I look forward to partnering with the DQE team and GI Partners to serve our customers, accelerate DQE's growth, and drive operational excellence."

About DQE Communications

Headquartered in Pittsburgh, Pennsylvania, DQE Communications is a leading regional provider of high-speed, data networking for businesses and carriers. The Company's continually expanding fiber-optic network currently spans thousands of miles, 3,000+ on-net buildings and 125 business parks. DQE Communications offers a robust portfolio of Internet and Data Network Solutions. DQE Communications was established in 1997 to provide businesses with secure, reliable and flexible network services. For more information, visit DQECOM.com.

About GI Partners

Founded in 2001, GI Partners is a private investment firm with over 150 employees and offices in San Francisco, New York, Dallas, Chicago, Greenwich, Scottsdale, and London. The firm has raised more than $43 billion in capital and invests on behalf of leading institutional investors around the world through its private equity, real estate, and data infrastructure strategies. The private equity strategy invests primarily in companies in the healthcare, services and software sectors. The real estate strategy focuses primarily on technology and life sciences properties as well as other specialized types of real estate. The data infrastructure strategy invests primarily in hard asset infrastructure businesses underpinning the digital economy. For more information, please visit www.gipartners.com.

Media Contacts:
Chris Tofalli
Chris Tofalli Public Relations
914-834-4334
[email protected]

Gretchen Robinson
Investor Relations
[email protected]

SOURCE GI Partners