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Charlesbank Capital Partners Leads Investment in Zayo Group, Regional Provider of Bandwidth and Telecom Services
| Source: Charlesbank Capital Partners
BOSTON, MA--(Marketwire - February 13, 2009) - Charlesbank Capital Partners has made a
growth-capital investment in Zayo Group. Located in Louisville, CO, Zayo
is a regional provider of telecom services -- including bandwidth, voice
and managed services -- to carrier, enterprise and government customers.
Led by Charlesbank, the investment also included equity from existing
shareholders. Zayo plans to use the funds for the acquisition of
complementary telecommunications assets or significant growth capital
expenditures. Terms were not disclosed.
Zayo is led by CEO Dan Caruso and COO John Scarano, who together have 40
years of experience in the wireless and wireline sectors. "We are thrilled
to have raised this equity," says Mr. Caruso. "With this new capital we are
well-positioned to be aggressive in the marketplace, both by addressing
existing demand in our network and by pursuing attractive acquisition
opportunities that have arisen as a result of the challenging capital
markets."
"Zayo has generated robust revenue and profit growth even during this
macroeconomic downturn, a testament to its business model and exceptional
management team," says Michael Choe, a Charlesbank Managing Director. "We
expect Zayo to continue to be a leading player in this rapidly
consolidating industry, and are excited to help the firm capitalize on the
favorable current market opportunity. Charlesbank is pleased to join Zayo's
shareholder group, and we look forward to supporting the management as they
continue to grow the business."
About Charlesbank
Charlesbank Capital Partners is a middle-market private equity investment
firm managing approximately $1.8 billion of capital. Charlesbank focuses on
management-led buyouts and growth capital financings, typically investing
$25 million to $125 million per transaction in companies with enterprise
values of up to $1 billion. The firm seeks to partner with strong
management teams to build companies with sustainable competitive advantages
and excellent prospects for growth. For more information, visit
www.charlesbank.com.