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Zayo Group, backed by GTCR, goes public

Boulder, Colorado-based fiber network firm Zayo Group Holdings went public Friday after raising $400 million.

Zayo on Thursday sold over 21 million shares at $19 per share. The stock began trading Friday on the NYSE under the ticker symbol “ZAYO.”

Morgan Stanley, Barclays and Goldman Sachs are the lead underwriters.

Zayo has been very busy with acquisitions. Recently, it purchased Dallas-based data center operator CoreXchange; UK-based open access network provider Geo Networks; and Neo Telecoms, a bandwidth infrastructure firm in Paris. No financial terms were disclosed for any of these deals.

Dan Caruso leads the company as chairman and CEO.

Zayo’s backers include GTCR, Oak Investment Partners, M/C Partners, Columbia Capital and Charlesbank Capital Partners.

Photo courtesy of Shutterstock.