Cox Communications’ Acquisition of Segra’s Commercial Services Business

Simpson Thacher represented Segra and affiliates of EQT Infrastructure in the transaction.

Cox Communications executed the acquisition of Segra’s commercial services business. EQT Infrastructure will retain Segra’s residential and small-to-medium-sized business services business, which operates under the Lumos Networks and NorthState brands. The transaction is subject to customary conditions and approvals and is expected to close later in 2021. 

Bank Street Group LLC and Goldman Sachs and Co. LLC acted as financial advisors to Segra.

Cox Communications is committed to creating meaningful moments of human connection through broadband applications and services. The largest private telecom company in America, we proudly serve six million homes and businesses across 18 states. 

Segra is one of the largest independent fiber infrastructure bandwidth companies in the Eastern U.S. It owns and operates an advanced fiber infrastructure network throughout nine Mid-Atlantic and Southeastern states. Segra provides Ethernet, MPLS, dark fiber, advanced data center services, IP and managed services, voice and cloud solutions, all backed by its industry-leading service and reliability. Headquartered in Charlotte, North Carolina, Segra employs more than 1,200 people and provides broadband data services across a 26,000-mile fiber network to a variety of customers including wireless carriers, healthcare providers, local government agencies, financial institutions, education institutions and residential customers.

The Simpson Thacher team includesd David Lieberman (Picture), Matt Gabbard, Michael Schaeppi and Oscar Hwang (M&A); Eli Isak and Robyn Cho (Credit); Jonathan Goldstein and Bill Smolinski (Tax); David Rubinsky and Joo Hyun Lee (ECEB); Michael Isby (Environmental); Dennis Loiacono (Real Estate); and Lori Lesser and Bobbie Burrows (Intellectual Property).

Involved fees earner: Bobbie Burrows – Simpson Thacher & Bartlett; Robyn Cho – Simpson Thacher & Bartlett; Matthew Gabbard – Simpson Thacher & Bartlett; Jonathan Goldstein – Simpson Thacher & Bartlett; Oscar Hwang – Simpson Thacher & Bartlett; Eli Isak – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Joo Hyun Lee – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; David Lieberman – Simpson Thacher & Bartlett; Dennis Loiacono – Simpson Thacher & Bartlett; David Rubinsky – Simpson Thacher & Bartlett; Michael Schaeppi – Simpson Thacher & Bartlett; William Smolinski – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: EQT Infrastructure; Segra;

Author: Martina Bellini