Skip to content
Subscriber Only

Berkshire to Buy Lightower, Sidera for $2 Billion

Berkshire Partners LLC, a Boston-based buyout firm that invests in mid-sized companies, agreed to acquire Lightower Fiber Networks and Sidera Networks in a $2 billion deal that will create a fiber-optic network operator serving 6,000 locations.

Berkshire Partners plans to merge the two companies, which will be run by Lightower Chief Executive Officer Rob Shanahan, according to a statement today. M/C Partners and Pamlico Capital acquired Lightower from National Grid Plc in 2007. Pamlico, the former private-equity unit of Wachovia Corp. before it was purchased by Wells Fargo & Co., will remain an investor in the new business, as will Sidera backer Abry Partners.