- What is the deal that is being announced?
- Who is Fibertech?
- Who is Court Square Partners?
- Why is Fibertech being acquired by Court Square Partners?
- Who is running Fibertech?
- How will this announcement affect Fibertech employees?
- How does this merger benefit Fibertech customers?
- How will Fibertech support our communities?
- When do you expect to complete the merger?
- Where can I find out more?
What is the deal that is being announced?
Court Square Partners' plan is to acquire Fibertech Networks. The acquisition is subject to regulatory approvals as well as satisfaction of other customary closing conditions.
Fibertech is committed to delivering unparalleled service and quality to customers – as recognized for five consecutive years in an industry-wide survey conducted by Atlantic-ACM. The transition to new investors means the company will continue to offer competitively-priced services in its 24-market footprint across the Northeast and is well positioned for future growth and expansion.
Who is Fibertech?
Headquartered in Rochester, N.Y., Fibertech Networks is a leader in providing fiber-optic based network services throughout mid-size cities in the Eastern and Central regions of the United States. The company has built metro-area networks strategically connecting local Telco central offices, carrier hotels, data centers, office parks and other high traffic locations. Further information about the company can be found at www.fibertech.com.
Who is Court Square Partners?
Court Square Capital is one of the most experienced private equity firms in the industry. Since 1980, the group has invested in over 170 transactions across a wide array of sectors including: aerospace & defense, industrials, business services, technology, healthcare, media and travel. Court Square Capital currently manages over $4 billion of aggregate capital commitments and is based in New York, NY.
Why is Fibertech being acquired by Court Square Partners?
Court Square is a growth stage private equity firm. They invest in companies who are already profitable and where growth projections indicate a strong prospect for even higher growth.
This opportunity allows Fibertech to continue to remain private, while giving it the flexibility to grow and expand its business. Fibertech is committed to ensuring that the value of your relationship with us will be far richer than anything you'll ever pay for our services. In addition to our well-earned reputation for service dependability and flexible solutions, we're committed to providing outstanding customer satisfaction, unparalleled attention to detail and a focus on making it easy for you to do business with us.
More than a decade of building fiber optic networks has taught us a lot. The most important secret to our success is found in providing a customer experience unlike any other. Our experienced and dedicated sales team will analyze your current requirements and implement a flexible solution that fits your business. And our commitment to customer responsiveness and on-time provisioning of service is unparalleled in the industry. This first class approach to customer satisfaction ensures the Fibertech experience is unlike any other.
Who is running Fibertech?
Fibertech's management team will continue on just as it has. The company's executive team has decades of experience in all facets of fiber optic network design, construction and operation. Led by President and CEO John Purcell, Fibertech has achieved nearly $1 billion in total contract sales. He has more than 45 years of experience in the telecommunications industry. In addition, Fibertech COO and Executive Vice President Frank Chiaino, has more than 40 years of experience in the cable and wireless industry, serving over 25 years at Time Warner Cable.
How will this announcement affect Fibertech employees?
At Fibertech, we believe we have assembled the most talented and dedicated staff in the industry. We are very proud of the fact that this merger will ensure this team of professionals will continue providing the high-quality service and support our customers have come to expect.
How does this merger benefit Fibertech customers?
This transaction will be transparent to customers. You can expect the same level of exceptional customer service and support that has been recognized by our customers and industry peers. It also provides us with the financial stability to continue to expand and grow our business.
How will Fibertech support our communities?
Fibertech is committed to building stronger communities. We believe being part of a community carries with it a responsibility, especially during a time when charitable organizations and members of our communities need us most.
When do you expect to complete the merger?
We expect the merger to close in the second half of 2010.
Where can I find out more?
Please visit www.fibertech.com for more information about this merger or Fibertech. You can also visit www.courtsquare.com to learn more about our new investors.
