Vermont Business Magazine FirstLight, a leading fiber-optic bandwidth infrastructure services provider operating in the Northeast, announced today that it has completed the acquisition of Finger Lakes Technologies Group. FirstLight acquired Bellows Falls-based Sovernet last March. This latest acquisition is just one of several that FirstLight has successfully completed during the last twelve months, as FirstLight acquired and combined operations with both Oxford Networks and Sovernet Communications and also announced the acquisition of 186 Communications, which is pending regulatory approval. Financial terms of these transactions were not disclosed.
The acquisition of FLTG further positions FirstLight as a leading fiber-based communications provider offering a complete portfolio of data, Internet, data center, cloud, and voice services throughout the Northeast. FLTG’s privately-owned fiber-optic network, which spans nearly 2,500 route miles in New York and Pennsylvania, along with its employees and complete set of communications services, including its status as a premier Cisco partner, will be combined with FirstLight to create a more robust network and an even stronger organization better able to continue to meet the communications needs of its customers.
“This is an exciting development for FLTG, our customers, and our employees. FirstLight is highly regarded for its strong, longstanding relationships with customers due to its quality fiber network, expertise, responsiveness, flexibility, and innovation. Combining our operations with FirstLight represents a new chapter in continuing this excellence, and brings forth even more capabilities for our customers,” said FLTG President and CEO Paul H. Griswold. “We look forward to a successful future with FirstLight, and are grateful for the opportunities this transaction creates for all involved.”
“2017 has been a momentous year for FirstLight. Following the successful acquisitions of Oxford Networks and Sovernet Communications, the FLTG transaction is yet another positive step forward for the company that accelerates our long-term growth objectives to increase fiber density and continually enhance our capabilities to the benefit of our enterprise and carrier customers,” commented Kurt Van Wagenen, President and CEO of FirstLight.
“The acquisition of FLTG, a company which has an admirable track record of achievement, marks another successful development for FirstLight,” said Scott Baker and Benjy Diesbach, Partners at Oak Hill and members of the FirstLight Board of Directors. “FLTG’s deep fiber network throughout New York state and its impressive product set should further propel FirstLight’s growth and add value for the combined companies’ customers. We are excited by the momentum that these transactions create for 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 more than 7,500 locations in service with more than 25,000 locations serviceable by our 12,000 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. 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.
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.