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  6. Crescent Capital Group and Oak Hill Capital Invest In Altafiber

Investment Summary

Crescent Capital Group and Oak Hill Capital Invest In Altafiber

On April 30, 2004, mezzanine finance firm Crescent Capital Group and private equity firm Oak Hill Capital invested in communications company Altafiber

Investment Highlights
  • This is Crescent Capital Group’s 1st and Oak Hill Capital’s 3rd transaction in the Communications sector.
  • This is Crescent Capital Group’s 21st and Oak Hill Capital’s 15th transaction in the United States.
  • This is Crescent Capital Group’s 2nd and Oak Hill Capital’s 2nd transaction in Ohio.
Investment Fate
  • Altafiber was sold to a consortium of financial buyers in 2020 for 2.9B USD.

Investment Summary
Date 2004-04-30
Target Altafiber
Sector Communications
Investor(s) Crescent Capital Group
Oak Hill Capital
Deal Type Stake Purchase

Target

Altafiber

Cincinnati, Ohio, United States
Cincinnati Bell's corporate headquarters in Cincinnati, Ohio.
Cincinnati Bell's corporate headquarters in Cincinnati, Ohio.
Altafiber is a provider of integrated communications solutions, including local and long-distance voice, data, high-speed Internet and entertainment services. Altafiber serves customers in Greater Cincinnati and Dayton. Altafiber was founded in 1873 and is based in Cincinnati, Ohio.

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Investor(S) 2

Investor

Crescent Capital Group

Los Angeles, California, United States

Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1991
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Crescent Capital is a provider of debt securities to middle-market companies. Crescent looks to issue senior bank loans, high yield bonds, mezzanine debt and distressed debt to fund a variety of needs. The FIrm's direct lending group looks to provide $10 to $30 million to sponsor-backed companies that generate $5 to $35 million of EBITDA. Crescent's mezzanine practice typically provides junior capital to support buyouts, recapitalizations, and refinancings. Crescent Capital was formed in 1991 and was originally known as TCW/Crescent Mezzanine. The Firm has offices in Los Angeles, Boston, New York, and London.

DEAL STATS #
Overall 24 of 67
Sector (Communications) 1 of 4
Type (Stake Purchase) 2 of 2
State (Ohio) 2 of 2
Country (United States) 21 of 54
Year (2004) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-22 Sweetheart Cup

Owings Mills, Maryland, United States

Sweetheart Cup is a manufacturer and supplier of single-service foodservice and beverage-related products in paper, plastic, and foam. Sweetheart has three separate business units: Foodservice, Packaging, and Consumer. Foodservice provides products to independent and large national chain restaurants, schools, business and industry foodservice locations, hospitals, lodging, and recreation facilities. Packaging offers a variety of paper and plastic containers for cultured and dairy products. Consumer products, packaged in retail packs, are marketed for at-home consumption in both Sweetheart and private-label brands sold by leading retailers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-15 Phoenix Scientific

Fort Dodge, Iowa, United States

Phoenix Scientific, Inc. manufactures veterinary pharmaceutical preparations Toy balloons or balls, Dolls, Doll houses, Stuffed animals or puppets, Playhouses, Building blocks, Riding toys, Pull toys, Childrens science kits, Toy vehicles, Toy trains, Inflatable toys, Doll parts or accessories, Yo yos, Kites, Pogs, Kaleidoscopes, Pom poms, Pinatas, Boomerangs, Flying discs, Toy pails.

Sell $196M
Investor

Oak Hill Capital

Stamford, Connecticut, United States

Category Private Equity Firm
Founded 1986
PE ASSETS 9.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oak Hill Capital Partners was originally formed as the private equity investment vehicle for Robert Bass and in 1999, opened up to outside investors and raised its first private equity fund. Oak Hill looks to invest in middle-market companies and focuses its efforts within six industry groups. The six groups include basic industries; business and financial services; consumer, retail, and distribution; healthcare; media and telecom; and technology. Oak Hill targets businesses with defensible business models, strong market positions, and 'best-in-class' management. Oak Hill Capital was formed in 1986 and has offices in Stamford, Connecticut; Menlo Park, California; and New York City.

DEAL STATS #
Overall 16 of 76
Sector (Communications) 3 of 13
Type (Stake Purchase) 1 of 5
State (Ohio) 2 of 5
Country (United States) 15 of 69
Year (2004) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-06 eGain

Sunnyvale, California, United States

eGain is a provider of cloud-based customer engagement hub software and solutions. eGain was founded in 1997 and is based in Sunnyvale, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-18 Blackboard

Reston, Virginia, United States

Blackboard is a global educational software company that allows thousands of higher education, K-12, professional, corporate and government organizations to extend teaching, learning and campus communication online to millions of students, parents and teachers. Blackboard was founded in 1997 and is based in Reston, Virginia.

Sell -
Mergr

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