Equity firm Court Square Capital Partners is going to buy Fibertech Networks, a regional provider of fiber-optic bandwidth services.
The deal could be worth $500 million, according to a report from Reuters.
Court Square (formerly CitiGroup Capital) will acquire the company from its original investors, Nautic Partners and the team at Ridgemont Equity Partners.
The agreement has already been approved by the Fibertech board of directors and by Court Square Capital Partners.
“This opportunity allows Fibertech to continue to operate as a private company, serving and supporting our customers in the way they’ve come to expect from us over the past decade,” said John Purcell, president and CEO of Fibertech. “In addition, we have the flexibility to grow and expand our business with the support of a partner who has a long history of investment in the telecom and technology space and of investing in profitable companies with strong growth potential. This new alliance represents the next stage of growth for Fibertech.”