Paul Hastings Acts for Novacap in Agreement to Acquire Horizon Telecom
New York – Paul Hastings LLP, a leading global law firm, announced today that it is advising Novacap TMT, a leading private equity firm with approximately $2.3 billion of assets under management, in connection with its acquisition of Horizon Telcom, an Ohio-based Midwest region provider of fiber-optic bandwidth infrastructure services, and in connection with related acquisition financing.
Novacap´s recent investments in regional fiber-network providers include acquisitions of Oxford Networks, FirstLight Fiber, and Fibrenoire. Upon completion of the acquisition and the finalization of new fiber builds, Horizon will operate 550,000 strand miles of fiber and 4,500 route miles of fiber in six states. The transaction is expected to close in the second quarter of 2018, following the satisfaction of customary regulatory approvals.
Horizon Telcom provides telecommunications services to Southern Ohio.
Charlesmead Advisors served as exclusive financial advisor to Horizon in this transaction.
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