The Lewiston-based fiber-optic bandwidth infrastructure services provider Oxford Networks has entered into a definitive agreement to be acquired by the New York-based private equity firm Oak Hill Capital Partners.
Financial terms of the transaction were not disclosed.
Oak Hill will acquire the company from its current private equity owners, Novacap and Bank Street Capital Partners. At the closing of the transaction, Oak Hill intends to combine the operations of the Lewiston firm with FirstLight Fiber.
FirstLight is another Northeastern U.S. fiber provider that Oak Hill agreed to acquire from its current owner, Riverside Partners, in March 2016, subject to prior regulatory approval.
Upon completion of the Oxford and FirstLight transactions, the companies will operate in aggregate approximately 4,800 route miles of high-capacity fiber optic network and 10 data centers in major markets across New York and New England, according to a release.
"Oxford has constructed a high-quality fiber network and developed an outstanding reputation with customers throughout its market territory," Benjy Diesbach, partner at Oak Hill, said in a prepared statement.
According to a release, the transaction is expected to close in Q4 of 2016, following regulatory approvals.
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