A consortium led by funds managed by H.R.L. Morrison & Co., a global infrastructure investment firm focused on the digital and renewables sectors, the Australian Retirement Trust and a managed client of UBS Asset Management have signed a definitive agreement to acquire FiberLight LLC, a fiber infrastructure provider with more than 20 years of experience building and operating mission-critical, high-bandwidth networks, from Thermo Companies.
The investment will accelerate FiberLight’s network expansion, positioning it to take advantage of the growing fiber infrastructure market. The terms of the transaction were not disclosed.
The company builds, owns and operates high-capacity networks and has a proven track record of execution for domestic and international wireless, wireline, cable and hyperscale cloud providers as well as leading enterprise, government and educational clients.
FiberLight’s management team, led by Chief Executive Officer Christopher Rabii (pictured), will continue to lead the business through its next phase of growth and development.
“With our existing backbone infrastructure and unmatched density across the markets we serve, FiberLight is well equipped to deploy a multitude of solutions to ensure our customers can meet their growing bandwidth needs,” Rabbi said. “Morrison & Co is our ideal new partner to support our growth strategy due to its commitment of capital and resources and shared belief that fiber infrastructure is the key to bridging the digital divide and rapid expansion required to meet the extraordinary long-term demand.”
Building on more than 30 years of infrastructure investing, Morrison & Co’s investment in FiberLight marks its first investment in the North American digital infrastructure market and third in the North American market, following investments in Longroad Energy and Clearvision Ventures, as the firm expands its boots on the ground presence in the region.
The acquisition is expected to close after fulfilling customary closing conditions including regulatory approvals.
Bank Street served as exclusive financial advisor and Taft served as legal counsel to FiberLight. TD Securities served as exclusive financial advisor and Torys LLC served as legal counsel to Morrison & Co.