07 04 2016

Oak Hill Capital Partners acquires FirstLight Fiber

FirstLight Fiber, a leading fiber-optic bandwidth infrastructure services provider in New York and Northern New England, announced that it has agreed to be acquired by Paul, Weiss client Oak Hill Capital Partners.


Under the terms of the agreement, Oak Hill will acquire the company from its current private equity owner, Riverside Partners (“Riverside”). At the conclusion of the transaction, Riverside Partners is expected to continue as a minority investor in FirstLight. The transaction is expected to close in the third quarter of 2016, following the satisfaction of customary regulatory approvals. Financial terms of the transaction were not disclosed. The Bank Street Group LLC served as FirstLight’s exclusive financial advisor in connection with this transaction.  Choate Hall & Stewart served as legal counsel to FirstLight in connection with this transaction.  Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Oak Hill. TD Securities (USA) served as financial advisor to Oak Hill and is the left lead arranger of the debt financing with Citizens Bank, N.A. as joint lead arranger.
The Paul, Weiss, team included corporate partners Angelo Bonvino (Picture), Patrick Campbell and Eric Goodison, and counsel Didier Malaquin, Mena Kaplan, Lindsey Wiersma and Marta Kelly; tax partner David Sicular; real estate partner Mitchell Berg; environmental counsel William O'Brien; and employee benefits counsel Jason Ertel. Involved fees earner: Angelo Bonvino - Paul, Weiss, Rifkind, Wharton & Garrison LLP; Marta Kelly - Paul, Weiss, Rifkind, Wharton & Garrison LLP; Menachem Kaplan - Paul, Weiss, Rifkind, Wharton & Garrison LLP; Didier Malaquin - Paul, Weiss, Rifkind, Wharton & Garrison LLP; David Sicular - Paul, Weiss, Rifkind, Wharton & Garrison LLP; Mitchell Berg - Paul, Weiss, Rifkind, Wharton & Garrison LLP; William O'Brien - Paul, Weiss, Rifkind, Wharton & Garrison LLP; Jason Ertel - Paul, Weiss, Rifkind, Wharton & Garrison LLP; Lindsey Wiersma - Paul, Weiss, Rifkind, Wharton & Garrison LLP; Patrick Campbell - Paul, Weiss, Rifkind, Wharton & Garrison LLP; Eric Goodison - Paul, Weiss, Rifkind, Wharton & Garrison LLP;

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