Funds managed by SDC Capital Partners LLC will buy a majority stake in Summit Infrastructure Group Inc., or SummitIG LLC, for an undisclosed amount.
SummitIG's current majority owner Columbia Capital LP will retain a material ownership stake in the company.
The target company will execute its planned growth strategy using the capital from the transaction, which is set to close in the coming months.
SummitIG, through its fiber-optic network, offers network solutions and bandwidth infrastructure services for carriers, data center operators, content providers and large businesses in northern and central Virginia.
SDC focuses on the information technology and communications infrastructure industries.
Bank Street Group provided advice to SummitIG, while DLA Piper served as its legal counsel. Skadden Arps Slate Meagher & Flom LLP was legal adviser to SDC.