05 January 2017 | Jason Mcgee-Abe
Oak Hill Capital Partners has completed its acquisition of Oxford Networks and combined its operations with FirstLight Fiber, creating a 415,000 fibre mile network with 10 data centres.
In March 2016, Oak Hill announced that it had reached a definitive agreement to acquire FirstLight Fiber, which was completed in September 2016, and in July last year a similar agreement was reached to acquire Oxford Networks from its equity partners. The combined high-capacity, fibre-optic network runs through New York, Maine, New Hampshire, Vermont and Massachusetts, with ten data centres offering cloud, managed and colocation services.
“The acquisition of Oxford more than doubles the size of our business, dramatically increases our scale and network reach, and better positions FirstLight to continue meeting the growing bandwidth infrastructure needs of our customers,” said Kurt Van Wagenen, president and CEO of FirstLight.
“FirstLight and Oxford are highly complementary in terms of fibre footprint, service set, customer base, employee expertise and mission, which will ease integration efforts. We expect this to be a seamless transaction for our customers and significantly enhance our operating platform as we continue to grow the business.”
Financial terms of the transaction were not disclosed, but Novacap, Bank Street Capital Partners and Riverside Partners will continue as minority investors in the combined company.
Craig Gunderson, president and CEO of Oxford Networks, said: “Serving our customers has always been our main priority, and we are confident that combined with FirstLight, we are better positioned to continue to do so. We look forward to working together to realise the promise that this combination creates.”
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