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Kekst CNC and Stanton handle the $14.3B (cash/debt assumption) deal to acquire Zayo Group, the Boulder, CO-based fiber network company, by investment firms EQT Partners and Digital Colony Partners.
Bloomberg reported that Zayo chief Dan Caruso faced pressure from activist investors Starboard Value and Sachem Head Capital Management to bolster his company’s tumbling stock price.
Caruso lauded EQT and Digital Colony as “experienced global investors in the communications space” that appreciate Zayo’s fiber infrastructure assets, talented management team and strong customer base.
“I am confident this partnership with EQT and Digital Colony will empower Zayo to accelerate its growth and strengthen its industry leadership,” he said.
Zayo will become a privately held company once the deal is completed during the first-half of next year.
Kekst CNC’s Daniel Yunger, Cathryn Vaulman and Simone Leung represent EQT’s interest in the deal, while Stanton’s Alex Stanton and Charlyn Lusk handle Digital Colony.
Joele Frank, Wilkinson Brimmer Katcher represented Zayo in the transaction.
C Street Advisory handles iRobot Corp as the marketer of the Roomba autonomous vacuum cleaner files Chapter 11 after being squeezed by cheaper competitors.
Joele Frank represents Confluent Inc. as the Mountain View, CA-based data streaming platform company agrees to be acquired by IBM in a deal with an enterprise value of $11B.
Tom Johnson, who has headed H/Advisors Abernathy since 2016, will join FGS Global as global head of private capital & financial services, effective Dec. 16.
Brunswick Group and Gagnier Communications are handling Paramount’s $30 cash per-share offer for all of Warner Bros Discovery, topping Netflix $27.50 cash/stock transaction.
ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
