Fiber-bandwidth provider Fibertech acquired
The half-billion-dollar deal will keep Fibertech's management and staff in place.
Court Square Capital Partners is acquiring fiber-optic bandwidth provider Fibertech Networks in a deal that is reported to be worth $500 million. The deal calls for Court Square to acquire Fibertech from its original investors Nautic Partners and Ridgemont Equity Partners. The parties expect the deal to close before the end of this year.
Fibertech's executive management and staff will remain in place, the companies said when announcing the acquisition. Fibertech president and CEO Johbn Purcell said the deal allows Fibertech to continue operating as a private company and provides flexibility to grow and expand the business.
Based in Rochester, NY, Fibertech provides fiber networks, including dark fiber, to mid-size cities in the Eastern and Central regions of the United States.