GE Capital’s TMT group has provided a $380 million credit facility to Lightower Fiber Netwrosk. Pamlico Capital, M/C Venture Partners and Ridgemont Equity Partners own Lightower. Boxborough, Mass.-based Lightower is a metro fiber network and bandwidth service company.
GE Capital’s Telecom, Media and Technology (TMT) financing business today announced it served as administrative agent on a new $380 million credit facility for Lightower Fiber Networks, the premier metro fiber and bandwidth service provider in the Northeast,. GE Capital Markets served as joint bookrunner and joint lead arranger on the transaction.
“We have a long standing history with GE Capital, as they have a clear understanding of our sector and unique financing needs,” said Rob Shanahan, CEO of Lightower Fiber Networks. “The company’s ability to provide financing solutions in all markets, and in particular to the middle market, makes GE Capital a valued partner as we look to grow our business.”
Lightower is a portfolio company of Pamlico Capital, M/C Venture Partners and Ridgemont Equity Partners. GE Capital has led financings for Lightower since the initial acquisition of Lightower by M/C Venture Partners and Pamlico Capital in August 2007.
“The market was extremely supportive of this transaction, made evident in the deal being significantly oversubscribed,” said Pete Foley, senior managing director of GE Capital’s Telecom, Media and Technology. “We’re once again proud to support Lightower and an industry which is experiencing significant growth.”
About GE Capital, Telecom, Media and Technology
GE Capital’s Telecom, Media and Technology business provides financing to enable corporate growth, acquisitions and balance sheet refinancings to companies in the following industries: cable, towers, data centers, wireless, metro fiber, radio, TV, digital media, education services, software and in technology companies that enable these industries. With Access GE, clients also benefit from access to GE’s best practices. Visit gecapital.com/tmt.
About GE Capital
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapitalNews). GE (NYSE: GE) is Imagination at Work – a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. Visit ge.com.
About Lightower Fiber Networks
Lightower Fiber Networks is the premier metro fiber and bandwidth service provider in the Northeast, , offering over 6,400 fiber route miles couple with comprehensive transport, alternative access, and nationwide long haul services. Lightower’s fiber footprint extends from New England, to eastern New York State, northern New Jersey, Long Island and New York City. With access to over 2,800 buildings, Lightower offers unparalleled regional density, performance, scalability, security and reliability in the Northeast. Lightower Fiber is headquartered in Boxborough, MA. For more information visit www.lightower.com or call 888-LT-FIBER.