Cable ONE’s Acquisition of Clearwave Communications

UBS Investment Bank acted as financial advisor, and Cravath, Swaine & Moore LLP acted as legal advisor to Cable ONE on this transaction. Bank Street Group LLC and Stephens Inc. acted as financial advisors, and Bryan Cave Leighton Paisner LLP acted as legal advisor to Clearwave on this transaction.

Cable One, Inc. (NYSE: CABO) has entered into a definitive agreement to acquire Clearwave Communications, a facilities-based service provider that owns and operates a high-capacity fiber network offering dense regional coverage in Southern Illinois.

The acquisition provides Cable ONE with a premier fiber network within its existing footprint and further enables the Company to supply its customers with enhanced business services solutions.

The acquisition will also provide a platform to allow Cable ONE to replicate Clearwave’s strategy in several of the Company’s existing markets. Clearwave has more than 2,400 route miles of dense metro fiber infrastructure connecting approximately 2,700 on-net businesses, towers and data centers. Clearwave is headquartered in Harrisburg, Illinois, and is majority-owned by funds affiliated with Stephens Capital Partners LLC, the private equity arm of Stephens Inc. based in Little Rock, Arkansas.

Cravath is representing Cable ONE with a team led by partners Joseph D. Zavaglia (Picture) and Jenny Hochenberg and includes associate Bryan G. Jones on corporate matters; partner Lauren Angelilli and associate Andrew L. Mandelbaum on tax matters; partner Jennifer S. Conway and associate Daniel P. Herrmann on executive compensation and benefits matters; partner David J. Kappos, practice area attorney Anthony N. Magistrale and associate Joel Feigenbaum on intellectual property matters; partner Matthew Morreale on environmental matters; and practice area attorney Brian M. Budnick on real estate matters. Maria Ricaurte also worked on corporate matters and Falguni Joshi worked on executive compensation and benefits matters.

Involved fees earner: Joseph Zavaglia – Cravath Swaine & Moore; Jenny Hochenberg – Cravath Swaine & Moore; Bryan Jones – Cravath Swaine & Moore; Maria Ricaurte – Cravath Swaine & Moore; Lauren Angelilli – Cravath Swaine & Moore; Andrew Mandelbaum – Cravath Swaine & Moore; Jennifer Conway – Cravath Swaine & Moore; Daniel Herrmann – Cravath Swaine & Moore; David Kappos – Cravath Swaine & Moore; Anthony N. Magistrale – Cravath Swaine & Moore; Joel Feigenbaum – Cravath Swaine & Moore; Matthew Morreale – Cravath Swaine & Moore; Brian Budnick – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Cable ONE, Inc.;

Author: Ambrogio Visconti