Consolidation continues among region’s broadband providers
Oak Hill Capital Partners acquires Vermont-based Sovernet
Consolidation among the region’s broadband providers continued apace this week with the announcement that Bellows Falls, Vt.-based telecom company Sovernet, has been acquire by Oak Hill Capital Partners.
Sovernet operates in southwest New Hampshire as well as in Vermont and New York state.
Under the deal, Sovernet, owned by Beverly, Mass.-based ATN International, will be combined with Albany, N.Y.-based FirstLight Fiber, which itself was acquired earlier this year by Oak Hill.
When completed, the merged companies will operate a total of 9,500 miles of super-fast fiber-optic network and 11 data centers across New England and New York state.
FirstLight CEO Kurt Van Wagenen said the merger was “very complementary to FirstLight’s existing network and capability. Once combined, our network will reach further into Vermont, New Hampshire and New York” and allow it to reach “more businesses and carriers in this region.”
In July, Oak Hill acquired Lewiston, Maine-based Oxford Networks, a fiber-optic bandwidth infrastructure services provider operating in New Hampshire, Maine and Massachusetts, from private equity owners Novacap and Bank Street Capital Partners.
Oak Hill said it will combine Oxford Networks, FirstLight Fiber and Sovernet into a single enterprise that will provide high-capacity telecommunications transport in New York and New England.