M&A Deal Summary

Antin Infrastructure Partners Acquires FirstLight Fiber

On February 21, 2018, infrastructure investor Antin Infrastructure Partners acquired communications company FirstLight Fiber from Oak Hill Capital

Acquisition Highlights
  • This is Antin Infrastructure Partners’ 4th transaction in the Communications sector.
  • This is Antin Infrastructure Partners’ 1st transaction in the United States.
  • This is Antin Infrastructure Partners’ 1st transaction in New York.

M&A Deal Summary
Date 2018-02-21
Target FirstLight Fiber
Sector Communications
Buyer(s) Antin Infrastructure Partners
Sellers(s) Oak Hill Capital
Deal Type Secondary Buyout
Advisor(s) Bank Street
TD Securities (Financial)

Target

FirstLight Fiber

Albany, New York, United States
FirstLight Fiber is a provider of fiber-optic data, Internet, data center and voice services to enterprise and carrier customers in New York and Northern New England with connectivity to Canada connecting in excess of 2,000 locations in service with an additional 14,000 locations serviceable by our 260,000 fiber mile network. FirstLight offers a robust suite of advanced telecommunications products featuring a comprehensive portfolio of high bandwidth connectivity solutions including Ethernet, wavelengths and dark fiber as well as dedicated Internet access solutions, data center services, and voice services such as SIP trunks, virtual PBX, and traditional TDM solutions. FirstLight Fiber was founded in 1999 and is based in Albany, New York.

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Buyer(S) 1

Buyer

Antin Infrastructure Partners

Paris, France

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2007
PE ASSETS 31.0B EUR
Size Mega
Type Sector Focused
DESCRIPTION

Antin Infrastructure Partners is an infrastructure investment firm focused on opportunities throughout the Europe. Antin looks for assets with low technology risk and limited operating risk. Specific areas of interest include transportation (toll roads, airports, ports, car parks), energy/environment (gas storage, LNG terminals, energy transmission, distribution, water infrastructure, waste management), and telecom (GSM towers, ADSL networks, broadcast networks, cable networks, and satellites). The lead sponsor of Antin is BNP Paribas. Antin Infrastructure Partners was established in 2007 and is based in Paris.

DEAL STATS #
Overall 18 of 40
Sector (Communications) 4 of 7
Type (Secondary Buyout) 6 of 10
State (New York) 1 of 2
Country (United States) 1 of 7
Year (2018) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-24 Almaviva Sante

Puyrucard, France

Almaviva Sante is a provider of healthcare services to regional centers of expertise (e.g. orthopedics, ophthalmology, cardiology, dialysis). Almaviva was founded in 2007 and is based in Puyrucard, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-16 Hesley Group

Doncaster, United Kingdom

Hesley Group provides specialist residential services, schools and colleges. Hesley Group aim to offer the best possible care, education and vocational opportunities for young people and adults, often with autism, who have a learning disability and complex needs with behaviour that may challenge. Hesley Group was founded in 1975 and is based in Doncaster, United Kingdom.

Buy -

Seller(S) 1

SELLER

Oak Hill Capital

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

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 44 of 55
Sector (Communications) 5 of 6
Type (Secondary Buyout) 7 of 11
State (New York) 4 of 4
Country (United States) 37 of 46
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-29 Paragon

Avon, Connecticut, United States

Paragon provides unique opportunities and solutions to retail agents, insurance carriers, reinsurers and vendor partners. Paragon was founded in 20154 and is based in Avon, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-09 Juice Plus+

London, United Kingdom

Juice Plus+ is a privately owned company selling products designed to improve quality of life. Juice Plus+ is fruit and vegetable nutrition in a convenient capsule or chewable form, with powder concentrates from 30 fruits, vegetables, and grains. Beginning with whole food based capsules, the Juice Plus+ product line has evolved to include chewable, which appeal to kids and adults alike, as well as whole food shakes and nutrition bars. Juice Plus+ was founded in 1970 and is based in London, United Kingdom.

Sell -
Mergr

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