Turning Rock Partners has completed the sale of South Reach Networks (SRN) to a fund managed by Blue Owl Capital’s Digital Infrastructure strategy. The deal marks a strategic exit for Turning Rock, which had backed SRN through a control buyout and helped drive its expansion through both organic growth and acquisitions.
Under the leadership of Michael Sevret, Jason Cohen, and Eileen Bonasia, SRN expanded its hybrid fiber, colocation, and transport services footprint across Florida. The company now owns and operates a 370-mile metro and long-haul fiber network along the East Coast of Florida, with direct connectivity to its carrier-neutral data centers. This infrastructure supports a broad base of carrier, content, enterprise, and wireless customers.
Blue Owl Capital sees the acquisition as a springboard to deepen its infrastructure investments in the Southeast U.S., a region with rising demand from hyperscale operators. “The Southeast is a priority region for our hyperscale customers,” said Chris Jensen, Managing Director at Blue Owl. The transaction was supported by legal, financial, and advisory services from Winston & Strawn, Bank Street Group, Bennett Thrasher, BDO, and JPMorgan.
- South Reach Networks was sold by Turning Rock Partners to Blue Owl Capital’s Digital Infrastructure fund
- SRN operates a 370-mile metro and long-haul fiber network in Florida, with colocation and transport services
- The company serves carriers, content providers, enterprises, and wireless operators via carrier-neutral data centers
- Management team led by Sevret, Cohen, and Bonasia oversaw organic and inorganic growth
- Advisors on the deal included Bank Street Group (SRN), Winston & Strawn (TRP), and JPMorgan (banking)
“We believe SRN is well positioned for growth in several markets and look forward to their continued success under the new ownership,” said John Hamilton, COO of Turning Rock Partners.