M&A Deal Summary

Oak Hill Capital Acquires Oxford Networks

On July 7, 2016, private equity firm Oak Hill Capital acquired information technology company Oxford Networks from Novacap

Acquisition Highlights
  • This is Oak Hill Capital’s 7th transaction in the Information Technology sector.
  • This is Oak Hill Capital’s 47th transaction in the United States.
  • This is Oak Hill Capital’s 1st transaction in Maine.
Investment Fate
  • Oxford Networks merged with another company in 2017.

M&A Deal Summary

Date 2016-07-07
Target Oxford Networks
Sector Information Technology
Buyer(s) Oak Hill Capital
Sellers(s) Novacap
Deal Type Secondary Buyout
Advisor(s) MVP Capital
Citizens Capital Markets (Financial)
Paul Hastings (Legal)

Target

Oxford Networks

Lewiston, Maine, United States
Oxford Networks is a provider of end-to-end technology solutions for companies in New England and beyond. Oxford Networks services and products include: Data Center Services, Managed IT Services, Voice, Internet, and Carrier Services. Oxford Networks was founded in 1876 and is based in Lewiston, Maine.

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Buyer(S) 1

Buyer

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 54 of 79
Sector: Information Technology M&A 7 of 7
Type: Secondary Buyout M&A Deals 16 of 25
State: Maine M&A 1 of 1
Country: United States M&A 47 of 72
Year: 2016 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-23 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-14 Intermedia

Sunnyvale, California, United States

Intermedia is a Unified Communications as a Service (UCaaS) and business cloud email provider that delivers highly-reliable and secure communications & collaboration solutions to more than 125,000 businesses and 6,600 active partners. Intermedia was founded in 1993 and is based in Sunnyvale, California.

Sell -

Seller(S) 1

SELLER

Novacap

Brossard, Quebec, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 8.0B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

Novacap is a large private equity firm focused on middle-market company acquisitions in Canada. Novacap pursues companies with $30 to $500 million in sales and will consider transactions valued up to $500 million. Target transaction situations include partial or full buyouts, spin-offs, take privates, recapitalizations, and growth capital financings. Novacap will consider opportunities in basic industries as well as high-growth tech sectors. Novacap was formed in 1981 and has offices in Toronto and Montreal.


DEAL STATS #
Overall 7 of 30
Sector: Information Technology M&A 2 of 4
Type: Secondary Buyout M&A Deals 2 of 12
State: Maine M&A 1 of 1
Country: United States M&A 3 of 10
Year: 2016 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-07 Idaho Pacific

Rigby, Idaho, United States

Idaho Pacific is a processor of dehydrated potato products in North America. The company supplies products for use in foods such as mashed potatoes, snacks, baked goods, and frozen side dishes, and distributes a full product line for the food service industry. Idaho Pacific customers include many of the largest domestic and international food manufacturers in the snack food, food service, and baking industries. Idaho Pacific is based in Rigby, Idaho.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-26 Firmex

Toronto, Ontario, France

Firmex is a virtual data room provider that has helped to drive the virtual data room marketplace with its SaaS secure document sharing platform to global financial institutions, law firms, and governments. Firmex’s secure and intuitive SaaS solution allows for the sharing of large volumes of confidential documents and mission-critical undertakings, including financial transactions, litigation, and compliance across a range of industries. Firmex was founded in 2006 and is based in Toronto, Ontario.

Buy -