M&A Deal Summary

Broadwing Communications Acquires Focal Communications

On March 8, 2004, Broadwing Communications acquired communications company Focal Communications from Great Hill Partners for 210M USD

Acquisition Highlights
  • This is Broadwing Communications’ 1st transaction in the Communications sector.
  • This is Broadwing Communications’ largest (disclosed) transaction.
  • This is Broadwing Communications’ 1st transaction in the United States.
  • This is Broadwing Communications’ 1st transaction in Illinois.

M&A Deal Summary
Date 2004-03-08
Target Focal Communications
Sector Communications
Buyer(s) Broadwing Communications
Sellers(s) Great Hill Partners
Deal Type Add-on Acquisition
Deal Value 210M USD
Advisor(s) Miller Buckfire & Co. (Financial)
Kirkland & Ellis (Legal)

Target

Focal Communications

Chicago, Illinois, United States
Focal Communications Corporation is a national communications provider, offering a range of solutions, including local phone and data services, to large communications-intensive customers.

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Buyer(S) 1

Buyer

Broadwing Communications

Austin, United States
Category Company
Founded 2003
Sector Communications
DESCRIPTION

Broadwing Communications. In June 2003, Cequel III partnered with the former Corvis Corporation to acquire Broadwing and its nationwide all-optical network from Cincinnati Bell. Subsequently, Cequel III turned over management responsibilities to Broadwing's executive team, while maintaining a relationship with the company for the provision of longhaul voice, video, and data services to Suddenlink. Broadwing was acquired by Level 3 Communications in 2007.

DEAL STATS #
Overall 1 of 1
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Illinois) 1 of 1
Country (United States) 1 of 1
Year (2004) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Great Hill Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 12.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Great Hill Partners is a private equity firm focused on growth equity and recapitalization investments in well established public and private companies valued put to $1 billion. Great Hill targets companies within consumer services, business services, financial technology, healthcare, internet, logistics, media, communications, technology services, software and transaction processing. The Firm invests in the range of $25 to $500 million per transaction. Great Hill prefers companies located in the US, but will also consider opportunities in Europe and Latin America. Great Hill Partners was formed in 1998 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 1 of 62
Sector (Communications) 1 of 4
Type (Add-on Acquisition) 1 of 38
State (Illinois) 1 of 3
Country (United States) 1 of 52
Year (2004) 1 of 3
Size (of disclosed) 21 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-02-16 Central Security Group

Tulsa, Oklahoma, United States

Central Security Group is a Full service provider of security alarm monitoring services for primarily residential customers. Central Security Group was founded in 1999 and is based in Tulsa, Oklahoma.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-05-06 Surebridge

Lexington, Massachusetts, United States

Surebridge, Inc. ("Surebridge") is an applications outsourcing company focused on serving middle market customers through Microsoft, Peoplesoft, and Siebel offerings. On June 10, 2004, Surebridge sold substantially all its assets to NaviSite in exchange for promissory notes in the aggregate amount of $39.3 million, 3 million shares of NaviSite stock, plus the assumption of substantially all of its liabilities. These securities remain within the Surebridge corporate entity.

Sell -
Mergr

Product

Company

Legal