Antin closes FirstLight deal

Antin Infrastructure Partners has completed its acquisition of US fibre-optics infrastructure provider FirstLight Fiber from Oak Hill Capital Partners. TMT Finance exclusively reported on the process, revealing Bank Street Group as the sell-side financial adviser.

Other parties understood to have been interested in the asset included Alinda Capital Partners, Zayo Group, Crown Castle, as well as EQT which was understood to be looking at the asset via its portfolio company Lumos Networks.

FirstLight was expected to fetch between 12 to 13 times EBITDA. This, sources previously noted, would see Oak Hill gain a reasonable return on its initial investment of 10 to 11 times EBITDA in 2016, when the PE firm acquired FirstLight from previous owners Riverside Partners.

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Published on 15.08.2018
Published on 15.08.2018
Published on 15.08.2018