GTT Communications’ $2.3 Billion Acquisition of Interoute

A Goodwin represented GTT Communications in the deal. Freshfields Bruckhaus Deringer acted as Interoute’s legal advisers.

GTT Communications, Inc. (NYSE: GTT), the leading global cloud networking provider to multinational clients, announced today a definitive purchase agreement to acquire Interoute, operator of one of Europe’s largest independent fiber networks and cloud networking platforms, for approximately €1.9 billion ($2.3 billion) in cash.

Interoute has received the strong support of its shareholders — the Sandoz Family Foundation, Aleph Capital and Crestview Partners — in its strategy of building and consolidating the European fiber, cloud and connectivity markets to create a player with significant scale and international presence.

Interoute reported revenues of €718 million and Adjusted EBITDA of €165 million for the 12 months ending September 30, 2017. These financial results attest to Interoute’s track record of significant growth and margin expansion through a combination of organic and inorganic initiatives. Interoute’s definitions of revenue and Adjusted EBITDA are based on International Financial Reporting Standards (IFRS) and its existing accounting practices. Credit Suisse International and Evercore acted as financial advisers to the selling shareholders.

GTT Communications, Inc. offers telecommunications services. The company, led by H Brian Thompson, Richard D Calder Jr and Michael T Sicoli, in 2017 recorded $827 Million Revenues.

The Goodwin Private Equity team was led by partners Gemma Roberts (Picture) in London, Jay Schifferli in Washington, D.C. and Anna Dodson in Boston and included partners James Barri, Simon Fulbrook, Janet Andolina and Sarah Priestly, and counsel Melissa Schwab Wright, and associates Reid Bagwell, Dylan Brown, Emily Campbell, Anna Cooklin, Dennis O’Reilly, Richard Hughes, Elle Metzger, Tessa Parkes, Autri Saha, Kyle Pine and Andrew Wilson.

 

Involved fees earner: Gemma Roberts – Goodwin Procter; Jay Schifferli – Goodwin Procter; Emily Campbell – Goodwin Procter; Anna Cooklin – Goodwin Procter; Dennis O’Reilly – Goodwin Procter; Elle Metzger – Goodwin Procter; Tessa Parkes – Goodwin Procter; Autri Saha – Goodwin Procter; Anna Dodson – Goodwin Procter; Simon Fulbrook – Goodwin Procter; Melissa Schwab Wright – Goodwin Procter; Reid Bagwell – Goodwin Procter; Dylan Brown – Goodwin Procter; Richard Hughes – Goodwin Procter; James Barri – Goodwin Procter; Janet Andolina – Goodwin Procter; Sarah Priestley – Goodwin Procter; Kyle Pine – Goodwin Procter; Andrew Wilson – Goodwin Procter;

Law Firms: Goodwin Procter;

Clients: GTT Communications, Inc.;