Morrison & Co-led investor group acquires FiberLight
Torys acted as counsel to Morrison & Co with a team led by Don Bell and that included Michael Portner Gartke, Meghan McKeever, Michele Qu, Tori Lechner-Sung and Erica Bird (corporate/M&A), Nathan Little (due diligence), Jonathan Wiener and Rachel Goodwin (financing), Christopher Caparelli (regulatory), Ellie Kang, Ryan Davis (employment), Peter Keenan, Michelle Lu and Chris Saki (tax).
On April 20, 2023, a consortium led by funds managed by Morrison & Co, and which included Australian Retirement Trust and a managed client of UBS Asset Management, announced the completion of its acquisition of FiberLight, LLC (“FiberLight”), a leading fiber infrastructure provider with more than 20 years of experience building and operating mission-critical, high-bandwidth networks, from The Thermo Companies. Terms of the transaction were not disclosed.
The investment will accelerate FiberLight’s network expansion, positioning it to take advantage of the rapidly growing fiber infrastructure market.
FiberLight is Morrison & Co’s first investment in the North American digital infrastructure market and its third in the North American market.
Further information can be found on Accesswire’s website.
FiberLight designs, builds, and deploys mission-critical high bandwidth networks to ignite clients’ digital transformation. With 17,000 route miles of fiber networks and 78,000 pre-qualified near-net buildings, FiberLight operates in over 30 metropolitan areas in the U.S. Their service portfolio includes high-capacity Ethernet and Wave Transport Services, Cloud Connect, Dedicated Internet Access, Dark Fiber and Wireless Backhaul serving domestic and international telecom companies, wireless, wireline, cable and cloud providers as well as key players across enterprise, government, and education.
Morrison & Co is a global infrastructure investment management specialist, managing multiple client mandates, with total funds under management of over US$16 billion at 31 December 2021. It is a pioneer in innovative infrastructure investing, supporting businesses that help enhance the lives of local communities. It invests on behalf of sovereign wealth funds, pension funds, family offices, endowments and other public and private pools of capital.
Australian Retirement Trust is the super fund formed through the merger of Sunsuper and QSuper. It is one of Australia’s largest super funds, taking care of over A$200 billion in retirement savings for over two million members.
UBS Asset Management is a large-scale asset manager with a presence in 23 markets. It offers investment capabilities and investment styles across all major traditional and alternative asset classes to institutions, wholesale intermediaries and wealth management clients around the world.
The Thermo Companies, founded by Jay Monroe in 1984, focuses on acquiring and actively operating asset-heavy companies across industries – specific focus is on developing the asset potential of the investments and successfully monetizing the potential of the assets.