M&A Deal Summary

Mpower Communications Acquires Primary Network Holdings

On June 26, 2000, Mpower Communications acquired communications company Primary Network Holdings from TGV Partners for 145M USD

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

M&A Deal Summary
Date 2000-06-26
Target Primary Network Holdings
Sector Communications
Buyer(s) Mpower Communications
Sellers(s) TGV Partners
Deal Type Add-on Acquisition
Deal Value 145M USD

Target

Primary Network Holdings

St. Louis, Missouri, United States
Primary Network Holdings provided Internet, data and voice services in the U.S. Midwest. Primary Network operated as a multi-state CLEC for DSL and internet access services. In 1999, TGV led an investor group that provided $53 million of growth financing to Primary in the form of subordinated debt and equity. In 2000 the company merged with M-Power Communications, a publicly traded CLEC, and the investor group received $69 million of cash, stock and bonds.

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Buyer(S) 1

Buyer

Mpower Communications

Pittsord, New York, United States
Category Company
Founded 1996
Sector Communications
DESCRIPTION

Mpower Communications is a facilities-based broadband communications provider offering a full range of data, telephony, Internet access and Web hosting services for retail business and wholesale customers.

DEAL STATS #
Overall 1 of 1
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Missouri) 1 of 1
Country (United States) 1 of 1
Year (2000) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

TGV Partners

Newport Beach, California, United States
Category Private Equity Firm
Founded 1990
PE ASSETS 150M USD
Size Small
Type Sector Agnostic
DESCRIPTION

TGV Partners is a private investment group focused on investments in traditional branded manufacturing and service businesses. TGV generally seeks smaller, profitable, established businesses with up to $50 million in sales where the Firm can partner with management to build companies. TGV looks to invest $3 to $10 million in transactions valued up to $50 million. Target companies typically operate in sectors with significant barriers to entry and attractive growth prospects. TGV Partners was formed in 1990 and is based in Newport Beach, California.

DEAL STATS #
Overall 4 of 8
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 1 of 3
State (Missouri) 1 of 1
Country (United States) 4 of 8
Year (2000) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-04-01 Raging Waters

San Dimas, California, United States

Raging Waters in San Dimas, California, is one of the largest water amusement parks in the country. In operation since 1983, the park provides family entertainment primarily to people living in the Southern California communities of Los Angeles, Orange, Riverside and San Bernardino Counties.

Sell USD27M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 Thompson/Center Arms Company

Springfield, New Hampshire, United States

(“T/C Arms”) is the leading producer of Black Powder firearms and accessories for the hunting and shooting marketplace. T/C designs, produces and markets an extensive line of BlackPowder firearms, single-shot modern firearms, and related hunting accessories and is the #1 producer of Black Powder firearms and the 5th largest overall firearms producer in North America.

Buy $40M
Mergr

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