Founded in 2000 to answer the need for highspeed internet service for Andrew Agencies insurance business, RFNOW has constantly grown in their service outreach and as employers both locally and in other locations in Manitoba and Saskatchewan.
In a press release dated Jan. 24, DIF Capital Partners announced it had closed an investment in Canadian internet service provider RFNOW Inc. to fund the further growth of its telecommunications network.
RFNOW currently provides enterprise fiber, residential fiber, fixed wireless internet and phone services over its 1,500 km fiber optic network and tower portfolio in Manitoba and Saskatchewan, Canada.
DIF made the investment through its CIF (Core Infrastructure Fund) III fund.
The news release says the company will enhance telecommunications services for residents, businesses, and public services. RFNOW’s high-speed fiber network will increase economic and societal opportunities to local communities in historically underserved areas.
“This investment will provide immediate and long-term benefits to RFNOW customers and employees,” said Chris Kennedy, CEO of RFNOW. “We are extremely proud of what our team has accomplished to get us here. Now, with this new partnership, we are well-positioned to enhance our existing operations and accelerate investment in new communities and regions.”
Willem Jansonius, partner and Head of CIF at DIF Capital Partners commented: “RFNOW is offering a tremendously important internet service connecting relatively remote areas with its state-of-the-art fiber technology. The management has done a great job in bringing the company to where it is now and we are very much looking forward to growing it further, together. The addition to our existing investments offers a gateway to unlock even bigger parts of Canada.”
This investment follows prior successfully developed fiber investments by DIF Capital Partners in rural Canada. In Manitoba this includes Winkler based Valley Fiber Ltd.
About RFNOW Inc.
Founded in 2000, RFNOW Inc. is an independent internet service provider serving communities across Manitoba and Southeastern Saskatchewan. RFNOW specializes in the development, construction, and operation of fiber and wireless infrastructure. Based in Virden, Manitoba, RFNOW provides internet services to residential and commercial customers in more than 170 communities within 72 municipalities to thousands of residential and business clients over a 1,500 kilometer network of owned fiber and tower portfolio.
In the Nelson St. office in Virden, RFNOW employs some 40 staff and many, many more at remote locations.
DIF Capital Partners
DIF is a global independent infrastructure fund manager, with €7.6 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia.
DIF has a team of over 145 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.
