SOURCE: FirstLight

FirstLight

October 18, 2017 10:00 ET

FirstLight Completes Acquisition of 186 Communications

Fourth transaction in the past year further advances FirstLight as one of the largest providers of fiber-based, high-capacity services throughout the Northeast

ALBANY, NY--(Marketwired - Oct 18, 2017) -  FirstLight, a leading fiber-optic bandwidth infrastructure services provider operating in the Northeast, announced today that it has completed its acquisition of 186 Communications ("186"). This latest acquisition marks the Company's fourth successful acquisition in the past year. FirstLight previously completed the acquisitions of Oxford Networks, Sovernet Communications and Finger Lakes Technologies Group (FLTG). Financial terms of these transactions were not disclosed.

Now that the transaction is completed, FirstLight will combine 186's high-capacity fiber network in Massachusetts, New Hampshire and Vermont with its own expansive fiber network and extensive portfolio of data, Internet, data center, cloud and voice services to enhance its position as one of the largest, most comprehensive, fiber-based communications providers in the Northeast. The Company now operates approximately 14,000 route miles of high-capacity fiber connecting nearly 8,000 locations and twelve data centers with more than 225,000 square feet of space.

"The past year has been a momentous one of growth and advancement for FirstLight, and today's completed acquisition of 186 Communications further strengthens FirstLight's position to best serve our customers," stated Kurt Van Wagenen, FirstLight President and CEO. "We are excited to officially combine our operations with 186, and in doing so, extend our network reach even deeper into Massachusetts, New Hampshire and Vermont."

"We have greatly anticipated this day," added Rob Carmichael, 186 CEO. "Now as a single organization, FirstLight is well equipped to continue to serve the growing bandwidth needs of businesses throughout the Northeast."

"The acquisition of 186 represents yet another notable achievement for FirstLight," said Scott Baker and Benjy Diesbach, Partners at Oak Hill and members of the FirstLight Board of Directors. "As the fourth in a series of successful acquisitions over the past twelve months, we can confidently say that FirstLight is well positioned to further accelerate growth, and we are excited for all of the opportunities that these acquisitions will continue to create for FirstLight." 

About FirstLight

FirstLight, headquartered in Albany, New York, provides fiber-optic data, Internet, data center, cloud and voice services to enterprise and carrier customers throughout the Northeast connecting nearly 8,000 locations in service with more than 20,000 locations serviceable by our 14,000 route mile network. FirstLight offers a robust suite of advanced telecommunications products featuring a comprehensive portfolio of high bandwidth connectivity solutions including Ethernet, wavelength and dark fiber services as well as dedicated Internet access solutions, data center, cloud and voice services. FirstLight's clientele includes national cellular providers and wireline carriers and many leading enterprises, spanning high tech manufacturing and research, hospitals and healthcare, banking and financial, secondary education, colleges and universities, and local and state governments.

To learn more about FirstLight, visit www.firstlight.net, or follow the company on Twitter and LinkedIn.

About Oak Hill Capital Partners
Oak Hill is a private equity firm managing funds with more than $10 billion of initial capital commitments since inception from leading global endowments and foundations, public and corporate pension plans, sovereign wealth funds, insurance companies, financial institutions, consultants, and family offices. Over the past 30 years, the professionals at Oak Hill and its predecessors have invested in 85 significant private equity transactions across broad segments of the U.S. and global economies. Oak Hill applies an industry-focused, theme-based approach to investing in the following sectors: Consumer, Retail & Distribution; Industrials; Media & Communications; and Services. Oak Hill works actively in partnership with management to implement strategic and operational initiatives to create franchise value. For more information, please visit www.oakhillcapital.com.

Forward-Looking Statements
Statements included herein may constitute "forward-looking statements", which relate to future events, the future performance, or financial condition of FirstLight following the acquisition of 186 Communications. These statements are not guarantees of future performance, condition, or results and involve a number of risks and uncertainties. Actual results and condition may differ materially from those in the forward-looking statements as a result of a number of factors.

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