Berkshire Partners Buys Lightower, Sidera

Berkshire Partners is acquiring Lightower Fiber Networks, a metro fiber and bandwidth provider, and Sidera Networks, a provider of communications services to large enterprise, carrier and data center customers. Ropes & Gray advised Berkshire Partners on the deal.

PRESS RELEASE
Ropes & Gray advised Berkshire Partners in its planned acquisition of Lightower Fiber Networks, a metro fiber and bandwidth provider in the Northeast, and Sidera Networks, a provider of tailored, high-capacity communications services to large enterprise, carrier and data center customers. The deal was announced on Dec. 27 and is valued at over $2 billion. The transaction is expected to close in the second quarter of 2013, pending regulatory approval.

The Ropes & Gray team was led by private equity partner Taylor Hart and included finance partner Sunil Savkar, private equity associates Mike Sartor and Michael Gilbert, and finance associate Misha Weinberg.

Lightower was advised by Alston & Bird. Sidera was advised by Edwards Wildman. Covington also advised on regulatory aspects of the deal.