NEW YORK Dec 27 Boston investment firm
Berkshire Partners has agreed to lead an acquisition and merger
of enterprise telecommunications service providers Lightower
Fiber Networks and Sidera Networks in a deal valued at more than
The combined company will operate fiber-based network
services in the U.S. Northeast, Mid-Atlantic and Midwest
regions. M/C Partners and Pamlico Capital acquired Lightower
from National Grid Plc in August 2007.
Pamlico, a significant Lightower investor, and ABRY
Partners, a significant Sidera investor, will retain investments
in the combined company, which will be led by current Lightower
CEO Rob Shanahan.
Current Lightower investors also include Ridgemont Equity
Partners, and Sidera investors include Spectrum Equity
The merger, which requires regulatory approval, is expected
to close in the second quarter.