Antin Infrastructure’s Acquisition of FirstLight

Bank Street Group and TD Securities served as lead financial advisors to FirstLight and Oak Hill in connection with the transaction. Paul, Weiss, Rifkind, Wharton & Garrison served as legal counsel to FirstLight and Oak Hill. UBS Investment Bank served as financial advisor to Antin and Weil, Gotshal & Manges and Harris, Wiltshire & Grannis served as legal counsel.

FirstLight, a leading fiber-optic bandwidth infrastructure services provider operating in the Northeast U.S., announced today that Antin Infrastructure Partners (“Antin”) has entered into a definitive agreement under which it will acquire FirstLight from Oak Hill Capital Partners IV (“Oak Hill”). Financial terms of the transaction were not disclosed.

The transaction is expected to close in the second half of 2018, following the satisfaction of customary closing conditions, including required regulatory approvals.

The agreement has been approved by FirstLight’s Board of Directors and Antin’s Investment Committee.

FirstLight, led by Kurt Van Wagenen, Paul Griswold, James Capuano, Richard Clark, Patrick Coughlin, Scott Gilbert, Sean Socha, Jill Sandford and Bruce Skellie, provides fiber-optic data, Internet, data center, cloud and voice services to enterprise and carrier customers throughout the Northeast connecting more than 8,000 locations in service with more than 40,000 locations serviceable by our 14,000 route mile network. The company is headquartered in Albany, New York.

Antin Infrastructure Partners is a leading independent private equity firm focused on infrastructure investments. Based in Paris and London with eleven partners and a total of over 70 professionals, Antin manages three funds that invest in infrastructure and target controlling stakes for investments in the energy and environment, telecommunication, transportation and social infrastructure sectors. The firm has raised €7.4 billion ($9.2 billion) from over 100 blue-chip institutional investors and has made investments in 18 companies to date.

Weil advised Antin Infrastructure Partners with a team including The Weil team advising Antin is led by Private Equity partners Brian Gingold (Picture) and Shayla Harlev and includes Real Assets partner James MacArthur; Corporate associates Jenna McBain, Benjamin Adelson, Sean Fitzpatrick, Constantinos Pappas and Emmanuel Charles (Not Yet Admitted in New York); Banking & Finance partners Douglas Urquhart and Paul Hibbert; Technology & IP Transactions partner Michael Epstein; Tax partners Kimberly Blanchard and Mark Schwed; Executive Compensation & Benefits partner Michael Nissan; International Arbitration & Trade partner Ted Posner; Environmental counsel John O’Loughlin; Antitrust counsel Vadim Brusser; Banking & Finance associates Erin Cartledge and Nick Nikic; Technology & IP Transactions associates Christine Paik and Phillip Grudzina (Not Yet Admitted in New York); Tax associates Adam Arikat and Liam Murphy; Executive Compensation & Benefits associates Jennifer Britz and John Kleinjan; Insurance associate Gabriel Gershowitz; Antitrust associate Jonathan Cheng; and Regulatory associate Timothy Welch.

Paul, Weiss is representing leading fiber-optic bandwidth infrastructure services provider FirstLight with a team including orporate partners Brian Lavin, Patrick Campbell, Angelo Bonvino and Eric Goodison; tax partner David Sicular and counsel Todd Hatcher; intellectual property partner Chuck Googe; real estate partner Mitchell Berg; employee benefits partner Robert Fleder and counsel Jason Ertel; environmental counsel William O’Brien; international trade counsel Richard Elliott; and antitrust counsel Marta Kelly.

Involved fees earner: Brian Lavin – Paul Weiss Rifkind Wharton & Garrison; Patrick Campbell – Paul Weiss Rifkind Wharton & Garrison; Angelo Bonvino – Paul Weiss Rifkind Wharton & Garrison; Eric Goodison – Paul Weiss Rifkind Wharton & Garrison; David Sicular – Paul Weiss Rifkind Wharton & Garrison; Todd Hatcher – Paul Weiss Rifkind Wharton & Garrison; Charles Googe – Paul Weiss Rifkind Wharton & Garrison; Mitchell Berg – Paul Weiss Rifkind Wharton & Garrison; Robert Fleder – Paul Weiss Rifkind Wharton & Garrison; Jason Ertel – Paul Weiss Rifkind Wharton & Garrison; William O’Brien – Paul Weiss Rifkind Wharton & Garrison; Richard Elliott – Paul Weiss Rifkind Wharton & Garrison; Marta Kelly – Paul Weiss Rifkind Wharton & Garrison; Brian Gingold – Weil, Gotshal & Manges; Shayla Harlev – Weil, Gotshal & Manges; James MacArthur – Weil, Gotshal & Manges; Benjamin Adelson – Weil, Gotshal & Manges; Sean Fitzpatrick – Weil, Gotshal & Manges; Constantinos Pappas – Weil, Gotshal & Manges; Gabriel Gershowitz – Weil, Gotshal & Manges; Douglas Urquhart – Weil, Gotshal & Manges; Paul Hibbert – Weil, Gotshal & Manges; Erin Cartledge – Weil, Gotshal & Manges; Nick Nikic – Weil, Gotshal & Manges; Michael Epstein – Weil, Gotshal & Manges; Christine Paik – Weil, Gotshal & Manges; Kimberly Blanchard – Weil, Gotshal & Manges; Mark Schwed – Weil, Gotshal & Manges; Adam Arikat – Weil, Gotshal & Manges; Liam Murphy – Weil, Gotshal & Manges; Michael Nissan – Weil, Gotshal & Manges; Jennifer Haydel Britz – Weil, Gotshal & Manges; John Kleinjan – Weil, Gotshal & Manges; Ted Posner – Weil, Gotshal & Manges; Timothy Welch – Weil, Gotshal & Manges; John O’Loughlin – Weil, Gotshal & Manges; Vadim Brusser – Weil, Gotshal & Manges; Jonathan Cheng – Weil, Gotshal & Manges;

Law Firms: Paul Weiss Rifkind Wharton & Garrison; Weil, Gotshal & Manges;

Clients: Antin Infrastructure Partners; FirstLight;

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Author: Ambrogio Visconti