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AMP Capital to Acquire Super-Regional Network Service Provider Everstream
Wednesday 14 March 2018

14 March 2018 - Australia-based global investment firm AMP Capital has agreed to acquire Ohio, US-based super-regional network service provider Everstream Solutions LLC, the company said.
In addition to M/C Partners, Everstream also is owned by investors advised by J.P. Morgan Asset Management and Morgan Stanley Alternative Investment Partners.
Terms were not disclosed. The transaction is expected to close in 2Q18 once necessary regulatory approvals are obtained. Everstream plans to utilise the investment from AMP Capital for acquisitions and to fund organic network growth and development.
Everstream said with AMP Capital's support, Everstream looks forward to continued positive growth through acquisitions, greenfield network builds and organic growth in our existing markets.
Everstream is a super-regional network service provider bringing fiber-based Ethernet, internet and data centre solutions to businesses throughout the Midwest. Everstream's network allows businesses to operate a converged IP network capable of delivering robust voice, video, and data services at speeds from 10 Mbps to 100 Gbps.
AMP Capital is a specialist global investment manager with AUD 187.7bn in funds under management as of December 31, 2017, and more than 250 investment professionals.
Evercore and MVP Capital served as lead financial advisers to Everstream and M/C Partners in connection with the transaction. Choate, Hall and Stewart and Thompson Hine served as legal counsel to Everstream and M/C Partners. Goldman Sachs served as financial advisor to AMP Capital and White and Case served as legal counsel.
Date Published: 14/03/2018
Target: Everstream Solutions
Country: USA
Sector: Telecommunications
Type: LBO
Status: Agreed
Buyer: AMP Capital
Buyer Advisor: Goldman Sachs , White and Case
Terms of the deal were not disclosed