Turning Rock Partners Announces the Sale of South Reach Networks

Rhea-AI Summary

Blue Owl Capital (NYSE:OWL) has acquired South Reach Networks (SRN) through its Digital Infrastructure strategy from Turning Rock Partners. SRN is a leading provider of hybrid fiber, colocation, and transport services serving carrier, content, and enterprise customers.

Under the previous ownership, SRN expanded its colocation and fiber footprint through both organic growth and acquisitions. The company's management team, led by Michael Sevret, Jason Cohen, and Eileen Bonasia, will continue operating the business as Blue Owl aims to further expand SRN's presence across the Southeast region, particularly in Florida.

Positive

• Strategic acquisition expanding Blue Owl's digital infrastructure presence in the Southeast
• Established customer base including hyperscale clients
• Strong management team continuing with the business
• Growth potential in expanding markets

Negative

• Financial terms of the acquisition not disclosed
• Integration and expansion costs may impact short-term performance

News Market Reaction – OWL

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NEW YORK, July 15, 2025 /PRNewswire/ -- Turning Rock Partners ("TRP" or "Turning Rock") announces the sale of South Reach Networks ("South Reach" or "SRN"), a leading provider of hybrid fiber, colocation and transport services for carrier, content and enterprise customers through a control buyout transaction. South Reach was acquired in a control buyout transaction by a fund managed by Blue Owl Capital's Digital Infrastructure strategy ("Blue Owl").

Over the last several years, South Reach Networks grew its colocation and fiber footprint organically and through acquisition. "The existing management of the company led by Michael Sevret, Jason Cohen and Eileen Bonasia built an exceptional business and drove growth through both organic customer expansion and select strategic acquisitions," said John Hamilton, COO of Turning Rock.  

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."

Hamilton added "We believe SRN is well positioned for growth in several markets and look forward to their continued success under the new ownership."

Turning Rock Partners was advised by Winston & Strawn LLP. Bank Street Group LLC provided advisory services to South Reach Networks. Bennett Thrasher provided sell side accounting advisory support. BDO provided accounting and audit advisory services. JP Morgan provided banking services.

About Turning Rock Partners
Turning Rock Partners pursues debt, equity and hybrid investments in lower-middle market businesses in North America. TRP structures bespoke financing solutions for companies across the private market landscape. For more information, please visit Turning Rock Partners' website: www.turningrockpartners.com or call our offices at: 212-207-2390. For Turning Rock investor relations, please contact investor@turningrockpartners.com.

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 global and domestic reach to the ever-expanding ecosystem of carriers, subsea, enterprise and wireless operators. Visit https://srnetworks.net/ for more information.     

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. To learn more, visit www.blueowl.com.

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SOURCE Turning Rock Partners

FAQ

What company did Blue Owl Capital (NYSE:OWL) acquire in July 2025?

Blue Owl Capital acquired South Reach Networks, a provider of hybrid fiber, colocation, and transport services, through its Digital Infrastructure strategy.

Who sold South Reach Networks to Blue Owl Capital?

Turning Rock Partners sold South Reach Networks to Blue Owl Capital through a control buyout transaction.

What services does South Reach Networks provide?

South Reach Networks provides hybrid fiber, colocation, and transport services for carrier, content, and enterprise customers.

What is Blue Owl's expansion strategy for South Reach Networks?

Blue Owl plans to expand South Reach Networks across Florida and the Southeast region, focusing on serving hyperscale customers.

Who will manage South Reach Networks after the Blue Owl acquisition?

The existing management team, led by Michael Sevret, Jason Cohen, and Eileen Bonasia, will continue to manage South Reach Networks.