I Squared Capital’s US$2.15 Billion Acquisition Of GTT Communications

I Squared Capital's US$2.15 Billion Acquisition Of GTT Communications

Goodwin Procter LLP, Khaitan & Co. and Gitti and Partners have advised GTT Communications on the deal. Linklaters acted as legal advisor to I Squared Capital and Latham & Watkins as borrower’s counsel.

GTT Communications, Inc. (NYSE: GTT), a global leader in the provisions of cloud networking services, announced its definitive agreement to sell its infrastructure business to I Squared Capital for US$2.15 billion. The acquisition is expected to close, subject to satisfying all required regulatory approvals and contingencies included in the agreement, during the first half of 2021.

The infrastructure division of GTT Communications, Inc. consists of the business and activities of providing Pan-European, North American, sub-sea and trans-Atlantic fiber network and data center infrastructure services to customers.

I Squared Capital is an independent global infrastructure investment management firm focusing on energy, utilities, digital infrastructure, transport and social infrastructure.

Credit Suisse and Goldman Sachs acted as financial advisers to GTT on the transaction, with Morgan Stanley acting in the same capacity for I Squared.

The Goodwin team was led by Gemma Roberts (Picture) and included Gretchen Scott, Joanna Keska, Camilla Bunney, Charlie Lord, Katie Leah, James Taylor, Rachel Thurbon, Laura Antuna-Ortega, Leah Black (all London), and Jay Schifferli (Washington, D.C.).

The Khaitan & Co. team consisted of Sharad Moudgal (Partner), Prashanth Ramdas (Principal Associate), Chirag Narasimiah (Senior Associate), Srishti Ramkrishnan (Senior Associate) and Divya Gupta (Associate).

Gitti and Partners advised GTT on Italian law aspects with a team led by Vincenzo Giannantonio assisted by Giacomo Pansolli, Chiara Perego, Gianluigi Strambi, Elisa Mapelli, Cristina Cavedon, Marco Bertucci, Gloria Manunza, Giulia Fossati, Antonino di Salvo and Luciano Chirico.

Linklaters advised I Squared on the deal with a team led by partner Will Aitken-Davies, managing associate Peter McCabe, senior United States associate Daniel Law and two associates, Rohan Dey and Kaiya Kim-Saville.

Involved fees earner: Marco Bertucci – Gitti and Partners; Cristina Cavedon – Gitti and Partners; Luciano Chirico – Gitti and Partners; Antonino Di Salvo – Gitti and Partners; Giulia Fossati Zunino – Gitti and Partners; Vincenzo Giannantonio – Gitti and Partners; Gloria Manunza – Gitti and Partners; Elisa Mapelli – Gitti and Partners; Giacomo Pansolli – Gitti and Partners; Chiara Perego – Gitti and Partners; Gianluigi Strambi – Gitti and Partners; Camilla Bunney – Goodwin Procter; Joanna Keska – Goodwin Procter; Katie Leah – Goodwin Procter; Charlie Lord – Goodwin Procter; Gemma Roberts – Goodwin Procter; Jay Schifferli – Goodwin Procter; Gretchen Scott – Goodwin Procter; James Taylor – Goodwin Procter; Rachel Thurbon – Goodwin Procter; Divya Gupta – Khaitan & Co.; Sharad Moudgal – Khaitan & Co.; Chirag Narasimiah – Khaitan & Co.; Prashanth Ramdas – Khaitan & Co.; Srishti Ramkrishnan – Khaitan & Co.; Will Aitken-Davies – Linklaters; Rohan Dey – Linklaters; Kaiya Kim-Saville – Linklaters; Daniel Law – Linklaters; Peter McCabe – Linklaters;

Law Firms: Gitti and Partners; Goodwin Procter; Khaitan & Co.; Linklaters;

Clients: GTT Communications, Inc.; I Squared Capital Advisors, LLC;