Novacap completes sale of Oxford Networks to Oak Hill Capital
Canadian private equity firm Novacap has wrapped up its sale of Oxford Networks, a U.S. fibre-optic bandwidth infrastructure services provider, to Oak Hill Capital Partners. The financial terms of the deal, announced last July, were not disclosed. Novacap acquired a majority stake in Oxford in 2014. Ted Mocarski, a senior partner at Novacap, said the company has more than doubled its revenue and profitability over the past two years. With the deal's closing, Oxford will be combined with FirstLight Fiber, which Oak Hill bought from Riverside Partners. Novacap, Bank Street Capital Partners and Riverside will invest in the new business as minority shareholders.
5 January 2017•3 mins read
