M&A Deal Summary

GI Partners Acquires DQE Communications

On December 19, 2023, private equity firm GI Partners acquired communications company DQE Communications from Duquesne Light Holdings

Acquisition Highlights
  • This is GI Partners’ 7th transaction in the Communications sector.
  • This is GI Partners’ 45th transaction in the United States.
  • This is GI Partners’ 4th transaction in Pennsylvania.

M&A Deal Summary

Date 2023-12-19
Target DQE Communications
Sector Communications
Buyer(s) GI Partners
Sellers(s) Duquesne Light Holdings
Deal Type Divestiture

Target

DQE Communications

Pittsburgh, Pennsylvania, United States
DQE Communications is a provider of high-speed, data networking for businesses and carriers offers a robust portfolio of Internet and Data Network Solutions. DQE Communications was founded in 1997 and is based in Pittsburgh, Pennsylvania.

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Buyer(S) 1

Buyer

GI Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 42.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GI Partners (Global Innovation Partners) is a private equity firm focused on control oriented investments in asset-backed businesses and properties located throughout North America and Western Europe. GI looks to invest up to $1500 million in companies generating predictable, recurring cash flows; underperforming businesses with intrinsic value; and direct asset investments with operational complexity. Sectors of interest include energy, education, healthcare services, leisure, retail, logistics, media, entertainment, financial services, technology, and telecommunications. GI Partners was formed in 2001 and has offices in San Francisco, Greenwich, and Chicago.


DEAL STATS #
Overall 57 of 59
Sector (Communications) 7 of 7
Type (Divestiture) 3 of 3
State (Pennsylvania) 4 of 4
Country (United States) 45 of 47
Year (2023) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-14 Ask4

Sheffield, United Kingdom

Ask4 is a provider of high-speed internet solutions and managed data services for multi-tenant accommodation. ASK4 partners with universities, private sector student accommodation providers, residential apartment developers, and businesses. Ask4 was founded in 2000 and is based in Sheffield, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-09 BusPatrol

Lorton, Virginia, United States

BusPatrol is a safety technology company with the mission of making the journey to and from school safer for the 27 million children who step onboard a school bus each day. BusPatrol is based in Lorton, Virginia.

Buy -

Seller(S) 1

SELLER

Duquesne Light Holdings

Pittsburgh, Pennsylvania, United States

Category Company
Sector Energy Services and Equipment
DESCRIPTION

Duquesne Light Holdings, Inc. is an energy services holding company formed in 1989 to serve as the holding company for Duquesne Light Company, a regulated electric public utility, and to engage in certain unregulated energy and related businesses. Duquesne Light Company was formed in 1912 and provides electric transmission and distribution services in Southwestern Pennsylvania, including the City of Pittsburgh.


DEAL STATS #
Overall 1 of 1
Sector (Communications) 1 of 1
Type (Divestiture) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-04 The Efficiency Network

Pittsburgh, Pennsylvania, United States

The Efficiency Network, Inc.is a provider of customized energy solutions for large businesses, governments, universities and hospital systems. The company delivers a robust suite of fiscally sound, environmentally responsible energy efficiency, distributed generation and smart city products and services. The Efficiency Network was formed in 2012 and is based in Pittsburgh, Pennsylvania.

Buy -