• US Signal Company LLC (US Signal) is a leading digital infrastructure provider and portfolio company of Igneo, operating nine data centers and a 9,500-mile fiber network across Michigan, Illinois, Indiana and Wisconsin
  • OneNeck (OneNeck IT Solutions LLC and OneNeck Data Center Holdings LLC (OneNeck) is a subsidiary of Telephone and Data Systems (TDS) providing secure hybrid IT and multi-cloud solutions through data centers in six Western and Midwestern states
  • TDS entered bilateral negotiations with US Signal for the carve out of OneNeck following an initial competitive process


  • DC Advisory was mandated as exclusive financial advisor by Igneo to provide buy-side and debt advice to support negotiations with TDS and simultaneously raise a financing package for the consolidated entity to fund the transaction
  • DC Advisory leveraged its extensive digital infrastructure sector experience to support Igneo across several detailed work streams:
    • Process strategy
    • Business plan development and analysis
    • Financial modelling and valuation
    • Debt advice to optimize capital structure and engagement with potential lenders


  • US Signal has entered into a definitive agreement to acquire a 100% stake in OneNeck from TDS with the transaction expected to close in Q3 2024
  • This transaction is subject to customary closing conditions
  • DC Advisory supported Igneo to successfully raise a flexible private credit financing package to fund the acquisition
  • This transaction demonstrates DC Advisory’s expertise in the digital infrastructure sector, as well as it’s close ties to infrastructure investors in North America