Investment Summary

Stephens Capital Partners, TPO and Oak Hill Capital Invest In Lit Communities

On March 1, 2021, private equity firm Stephens Capital Partners, family office TPO and private equity firm Oak Hill Capital invested in communications company Lit Communities

Investment Highlights
  • This is Stephens Capital Partners’ 5th, TPO’s 2nd and Oak Hill Capital’s 9th transaction in the Communications sector.
  • This is Stephens Capital Partners’ 65th, TPO’s 8th and Oak Hill Capital’s 58th transaction in the United States.
  • This is Stephens Capital Partners’ 1st, TPO’s 1st and Oak Hill Capital’s 1st transaction in Vermont.

Investment Summary

Date 2021-03-01
Target Lit Communities
Sector Communications
Investor(s) Stephens Capital Partners
TPO
Oak Hill Capital
Deal Type Growth Capital

Target

Lit Communities

Arlington, Vermont, United States
Lit Communities partners and advises local communities in building and operating fiber-based broadband network infrastructure. Lit Communities is based in Arlington, Vermont.

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Investor(S) 3

Investor
DESCRIPTION

Stephens Capital Partners is the direct, private equity investment arm of financial services firm Stephens, Inc. Stephens Capital looks to acquire minority or majority stakes in mid-sized, profitable companies in partnership with management. The Firm will consider opportunities throughout the US valued between $50 and $200 million. Stephens Capital will not consider venture investments or turnaround situations. Stephens Capital Partners is based in Little Rock, Arkansas.


DEAL STATS #
Overall 68 of 77
Sector (Communications) 5 of 6
Type (Growth Capital) 11 of 13
State (Vermont) 1 of 1
Country (United States) 65 of 71
Year (2021) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-15 Hargray Communications Group

Hilton Head, South Carolina, United States

Hargray Communications Group, Inc. is a telecommunications provider serving southeastern South Carolina and northeastern Georgia. The company's operations include traditional telephone carrier services, internet services, cable television, wireless telephone, and a telephone directory publishing operation. Hargray Communications Group was founded in 1949 and is based in Hilton Head, South Carolina.

Sell $2.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-16 Point Broadband

West Point, Georgia, United States

Point Broadband is an internet service provider to residential and business customers in rural and suburban America. Point Broadband was established in 2016 and is based in West Point, Georgia.

Sell -
DESCRIPTION


DEAL STATS #
Overall 8 of 11
Sector (Communications) 2 of 3
Type (Growth Capital) 1 of 1
State (Vermont) 1 of 1
Country (United States) 8 of 11
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-15 Hargray Communications Group

Hilton Head, South Carolina, United States

Hargray Communications Group, Inc. is a telecommunications provider serving southeastern South Carolina and northeastern Georgia. The company's operations include traditional telephone carrier services, internet services, cable television, wireless telephone, and a telephone directory publishing operation. Hargray Communications Group was founded in 1949 and is based in Hilton Head, South Carolina.

Sell $2.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-09 Crown Health Care Laundry Services

Pensacola, Florida, United States

Crown Health Care Laundry Services is a provider of healthcare linen management solutions and products across the Southeast. Crown provides laundering, packaging, delivery and additional value-added services to healthcare facilities. Crown is based in Pensacola, Florida.

Buy -
Investor

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 65 of 76
Sector (Communications) 9 of 13
Type (Growth Capital) 2 of 5
State (Vermont) 1 of 1
Country (United States) 58 of 69
Year (2021) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-26 Imagine

Minneapolis, Minnesota, United States

Imagine is a complete visual communications provider, delivering end-to-end solutions for retailers, CPGs and various other segments. Imagine helps brand marketers execute in-store campaigns with the highest level of quality and accuracy while maintaining a streamlined, cost-effective process. Imagine was founded in 1988 and is based in Minneapolis, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-16 American Veterinary Group

Tampa, Florida, United States

American Veterinary Group owns and manages a network of veterinary hospitals that treat and protect over 50,000 pets annually. AVG delivers high touch practice management solutions to help veterinarians at all stages of the practice lifecycle, focus on the needs of their patients, instead of the needs of their business. American Veterinary Group was founded in 2012 and is based in Tampa, Florida.

Buy -