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Today's Transactions:
Berkshire Pays $2B for Lightower and Sidera, Will Merge Companies

The targets provide communications services

Boston private equity firm Berkshire Partners will buy and merge Lightower Fiber Networks and Sidera Networks in a $2 billion deal.

Lightower provides metro fiber and bandwidth to the northeast U.S. and Sidera provides communications services to carriers and data centers. After the merger, the company will operate a fiber-based network through the northeast, mid-Atlantic and Midwest.

In 2007, M/C Partners and Pamlico Capital acquired Lightower from National Grid plc. Pamlico and Abry Partners, one of Sidera’s investors, will remain investors in the merged company. Lightower chief executive Rob Shanahan will run the combined company.

Berkshire has invested in more than 100 middle market companies and has capital commitments of more than $11 billion. The firm focuses on communications, consumer products, business services and industrial manufacturing and transportation. 

 

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