M&A Journal: Windstream, NTELOS, Court Square Close M&A Purchases

December 3rd, 2010 by · Leave a Comment

Apparently, December 1 was the target date for many of the fiber M&A’s of 2010 that had remained outstanding.  Along with the completion of the Lightower/Lexent and Windstream/Hosted-Solutions deals I mentioned already there were no less than three more.

Largest amongst them was of course the Windstream purchase of KDL/Norlight for $818M, which furthers its evolution into something more than a rural ILEC.  Windstream (NYSE:WIN, news, filings) also provided a fascinating map detailing its combined fiber assets, CLEC territories, ILEC territories, and data center properties.

Meanwhile, nTelos (NASDAQ:NTLS, news, filings) finalized the purchase of FiberNet from One CommunicationsThe $169M deal adds a net of 1200 route miles and 30K customers to the company’s network.  Fibernet did $76M and $25M in revenue and EBITDA in 2009.  That should bring NTELOS above the $600M revenue threshold overall, while effectively doubling the company’s competitive wireline business.

And Court Square finalized its purchase of Fibertech Networks, a deal about which we have never had much direct information.  It was financed by a combination of funds from Court Square, an investment by Fibertech’s senior management, and apparently a $270M senior debt facility.  That last item suggests that Fibertech may have a pretty good war chest to move forward with.

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Categories: Mergers and Acquisitions · Metro fiber

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