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Lightower Fiber Networks to Merge With Sidera Networks
BOXBOROUGH, MA and NEW YORK, NY, Dec 27, 2012 (MARKETWIRE via COMTEX) --
Lightower Fiber Networks, the premier metro fiber and bandwidth
provider in the Northeast, and Sidera Networks, the leading provider
of tailored, high-capacity communications services to large
enterprise, carrier and data center customers, announced that they
have signed a definitive agreement for a transaction valued at over
$2 billion led by Berkshire Partners, a Boston-based investment firm,
and management, to acquire and merge both companies. M/C Partners and
Pamlico Capital acquired Lightower from National Grid plc in August
2007. Pamlico Capital, a significant Lightower investor, and ABRY
Partners, a significant Sidera investor, will remain as investors in
the new company. The combined company will be led by current
Lightower CEO, Rob Shanahan. The merger is pending regulatory
approval and is expected to close in the second quarter of 2013.
"Lightower and Sidera together will offer customers an
industry-leading, fiber-based network with a deeply experienced team
supporting it," stated Rob Shanahan, CEO of Lightower. "Both
companies have a shared vision of network excellence, customized
solutions and superior customer support. Once merged, we will offer
customers more services, more routes and more access options with the
same high levels of performance, diversity, reliability and support
that our customers have come to expect from us."
Following the merger, the combined company will operate a
high-performance, fiber-based network throughout the Northeast,
Mid-Atlantic and Midwest, with connections to critical landing sites
and exchanges internationally. The combined network will offer
customers over 20,000 route miles and provide access to more than
6,000 on-net locations, including commercial buildings, data centers,
financial exchanges, content hubs and other critical interconnection
facilities.
"This combination is highly complementary," commented Mike Sicoli,
CEO of Sidera. "The broad reach and scale of our combined network,
the cumulative expertise of our dedicated employees and our shared
passion for customer service and satisfaction will set the new
company apart and deliver tangible benefits to our customers."
"Berkshire is excited to be working with both Lightower and Sidera --
two great companies and two great teams," explained Randy Peeler,
Managing Director of Berkshire. "We have invested in the
telecommunications infrastructure space for nearly 20 years and
believe that the combined company, with its incredibly robust
network, is well positioned for continued growth serving customers
with an ever-increasing need for high-performance bandwidth."
More Customer Options with More Routes and More Access
The merger of the two networks accelerates the strategies of both
companies to provide best-in-class, fiber-based networking solutions
to enterprise, carrier and government customers. The combined company
will provide customers with enhanced access to a unique, diverse and
dense high-performance network that can serve the most demanding
application requirements. The combined network will have both a
larger footprint and greater density throughout the Northeast,
Midwest and Mid-Atlantic regions, while dramatically increasing the
number of data centers, financial exchanges and interconnection
facilities that are served with fiber-based access.
Lightower and Sidera both currently offer fiber-based networking
solutions comprised of Ethernet, dark fiber, wavelengths, Internet
access, private networks and colocation services. Both companies also
offer industry-specific solutions such as ultra-low latency
connections for financial services firms, video transport for media
companies, wireless backhaul for wireless operators, as well as
diverse cloud, content and data center connectivity.
Additional terms of the deal were not disclosed.
Current Lightower Fiber Networks investors include M/C Partners,
Pamlico Capital and Ridgemont Equity Partners. Current Sidera
Networks investors include ABRY Partners and Spectrum Equity
Investors.
About Lightower Fiber Networks
Lightower Fiber Networks is the
premier metro fiber and bandwidth provider in the Northeast, offering
over 6,600 fiber route miles coupled with comprehensive transport,
alternative access and nationwide long-haul services. Lightower's
fiber footprint extends from New England, to eastern New York State,
New Jersey, Long Island and New York City. With access to over 3,500
service locations, Lightower offers unparalleled regional density,
performance, scalability, security and reliability in the Northeast.
Lightower Fiber is headquartered in Boxborough, MA. For more
information, visit www.lightower.com or call 888-LT-FIBER.
About Sidera Networks
Sidera Networks, LLC, www.sidera.net, is the
premier provider of tailored, high-capacity communications services
to large enterprise, carrier and data center customers with a focus
on how customers connect to cloud services and access or distribute
content. Sidera Networks offers a comprehensive suite of
facilities-based services including: Ethernet, SONET, Wavelength,
Dark Fiber, Internet Access, Colocation and more. With a fiber-optic
network leveraging unique rights-of-way that delivers connectivity to
the major metropolitan areas from Maine to Virginia and out to
Chicago, as well as access to Toronto and London, Sidera is committed
to delivering cost-effective, custom solutions coupled with superior
industry expertise, service and support. Learn more about Sidera at
www.sidera.net or call 877-669-6366.
About Berkshire Partners
Berkshire Partners LLC, the Boston-based
investment firm, has invested in over 100 middle market companies
since 1986 through eight investment funds with aggregate capital
commitments of over $11 billion. Berkshire has developed specific
industry experience in several areas, including communications,
consumer products and retail, business services, industrial
manufacturing and transportation. Within communications, the firm has
particular expertise in infrastructure investments including Crown
Castle International (NYSE: CCI) and The Telx Group. Berkshire has a
strong history of partnering with management teams to grow the
companies in which it invests, with the goal of consistently
achieving superior investment returns. The firm seeks to invest $50
million to $500 million of equity capital in each portfolio company.
For additional information, visit www.berkshirepartners.com or call
617-227-0050.
Media Contacts
For Lightower Fiber Networks media inquiries, please contact:
Jaymie Scotto & Associates
+1 866-695-3629
Email Contact
For Sidera Networks media inquiries, please contact:
Joe Cumello
Sidera Networks
+1 703-434-8275
Email Contact
For Berkshire Partners media inquiries, please contact:
Kate Bush
Berkshire Partners LLC
+1 617-227-0050
Email Contact
SOURCE: Lightower Fiber Networks
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