M&A Deal Summary

Newlight Partners Acquires Sail Internet

On November 11, 2020, private equity firm Newlight Partners acquired communications company Sail Internet

Acquisition Highlights
  • This is Newlight Partners’ 3rd transaction in the Communications sector.
  • This is Newlight Partners’ 6th transaction in the United States.
  • This is Newlight Partners’ 1st transaction in California.

M&A Deal Summary
Date 2020-11-11
Target Sail Internet
Sector Communications
Buyer(s) Newlight Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Latham & Watkins (Legal)

Target

Sail Internet

Palo Alto, California, United States
Sail Internet is a high-speed internet provider leveraging fiber and next-generation wireless infrastructure to serve homes and businesses. With fiber at the core of everything it does, Sail delivers high-speed internet to single-family homes, multifamily buildings, and businesses in the San Francisco Bay Area. The sail has no data caps for customer use and is net neutral. Sail Internet was founded in 2015 and is based in Palo Alto, California.

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Buyer(S) 1

Buyer

Newlight Partners

Category Private Equity Firm
Founded 2018
PE ASSETS 4.0B USD
Size Small
Type Sector Agnostic
DESCRIPTION

Newlight Partners is a growth-focused middle market private equity firm investing in companies across North America. The Firm seeks to partner with founders and management teams in businesses in a variety of industries including healthcare, financial services, digital transformation, and decarbonization. Newlight Partners typically commits up to $150 million per transaction to support long-term growth initiatives. Newlight Partners was founded in 2018 and is headquartered in New York, New York.

DEAL STATS #
Overall 8 of 12
Sector (Communications) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 3 of 3
State (California) 1 of 2
Country (United States) 6 of 9
Year (2020) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-27 Pondurance

Indianapolis, Indiana, United States

Pondurance delivers managed detection and response services to industries facing the most pressing and dynamic cybersecurity challenges including ransomware, increasingly complex compliance requirements, and digital transformation accelerated by a distributed workforce. Pondurance was founded in 2008 and is based in Indianapolis, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 Rove

Costa Mesa, California, United States

Rove is a developer, owner, and operator of next-generation electric vehicle (“EV”) charging stations. Leveraging software and on-site battery storage, Rove’s network of stations offers fast charging alongside an array of amenities, including restrooms, lounges, car wash and other retail. Rove provides a convenient and reliable public charging experience tailored to drivers and fleets underserved by current EV charging infrastructure. Rove was founded in 2019 and is based in Costa Mesa, California.

Buy -
Mergr

Product

Company

Legal