Zayo Group secures additional equity financing
Printer Print Email Email
Louisville: Zayo Group, a regional provider of fiber based bandwidth, telecom and wholesale voice solutions, has closed a new round of equity financing. The investment was led by Charlesbank Capital Partners, a private equity firm that is new to the Zayo Group investor syndicate. Zayo Group's existing equity investors including Battery Ventures, Centennial Ventures, Columbia Capital, M/C Venture Partners, and Oak Investment Partners participated in the round. The new round of financing will be drawn down over multiple closings. Additional details will be forthcoming upon the second closing. "This equity round provides funds to support mergers and acquisitions as well as major customer-driven expansions such as Fiber to the Tower and educational networks," said Ken desGarennes, CFO of Zayo Group. "Fortunately, our day-to-day business does not require additional financing," he said. Zayo's bank debt is led by CIT and the bank group includes CoBank, Hercules Technology Growth Capital, Royal Bank of Canada, and SunTrust Bank.

siliconindia