Court Square Capital Partners, in partnership with management, is buying a majority stake in Conterra Ultra Broadband Holdings Inc.
Conterra, headquartered in Charlotte, N.C., provides infrastructure-based broadband services.
The deal includes the purchase of stakes owned by current investors, including affiliates of Goldman Sachs, Duke Energy and GE Capital. Terms of the deal were not disclosed.
New York-based Court Square is a private equity firm that manages more than $6 billion in commitments. The firm focuses on investing in the business services, general industrial, health care and technology and telecommunications sectors. In April, the company agreed to sell CompuCom Systems Inc. to Thomas H. Lee Partners LP. Court Square's current investments include AFS Technologies Inc., Encompass Digital Media Inc. and Vestcom.
The Bank Street Group LLC acted as Conterra's financial adviser on the deal, while Nelson Mullin Riley & Scarborough LLP provided legal advice. Dechert LLP represented Court Square on the deal.