Lightower/Fibertech merger to be funded in part with new debt

By Sara Rosenberg

New York, April 27 – Lightower Fiber Networks and Fibertech Networks plan to use debt and equity to fund their merger, according to a news release.

The merger agreement is an all-cash transaction valued at $1.9 billion.

J.P. Morgan Securities LLC and Highbridge Principal Strategies LLC provided the financing commitments for the transaction.

Also, Lightower’s existing financial backers, Berkshire Partners, Pamlico Capital and ABRY Partners, will each provide additional equity to support the transaction.

Closing is expected in the third quarter, subject to regulatory approvals.

Lightower is a Boxborough, Mass.-based provider of custom, high-capacity network services. Fibertech, a Court Square Capital Partners portfolio company, is a Rochester, N.Y.-based provider of fiber-optic based network services.

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