Business briefs for 1/19/17
FirstLight Fiber and Oxford Networks combine operations
BANGOR — FirstLight Fiber, a leading fiber-optic bandwidth infrastructure services provider operating in New York and Northern New England, has announced that Oak Hill Capital Partners has completed its acquisition of Oxford Networks in Bangor, and has combined the operations of Oxford with FirstLight.
As previously reported, Novacap, Bank Street Capital Partners and Riverside Partners will continue as minority investors in the combined company. Financial terms of the transaction were not disclosed.
FirstLight operates a 5,000 route mile, high-capacity, fiber optic network spanning five states with 4,400 locations in service and ten data centers, many of which are SOC 2 (Service Organization Control) compliant and offer Cloud and Managed services.
“The acquisition of Oxford more than doubles the size of our business, dramatically increases our scale and network reach, and better positions FirstLight to continue meeting the growing bandwidth infrastructure needs of our customers. FirstLight and Oxford are highly complementary in terms of fiber footprint, service set, customer base, employee expertise and mission, which will ease integration efforts. We expect this to be a seamless transaction for our customers and significantly enhance our operating platform as we continue to grow the business,” commented Kurt Van Wagenen, president and CEO of FirstLight.
“Serving our customers has always been our main priority, and we are confident that combined with FirstLight, we are better positioned to continue to do so,” added Craig Gunderson, president and CEO of Oxford. “We look forward to working together to realize the promise that this combination creates,” concluded Gunderson.
The Sovernet transaction is expected to close early in 2017, following the satisfaction of customary regulatory approvals, and will further increase the size and geographic footprint of FirstLight. Once complete, FirstLight will operate a network spanning 9,500 route miles in five states and Canada, more than 5,000 on-net locations, and 11 data centers with 128,000 square feet of space.
MVP Capital LLC served as Oxford’s exclusive financial adviser in connection with this transaction, and Citizens Capital Markets, Inc. served as financial adviser to Oak Hill. Paul Hastings LLP served as legal counsel to Oxford, and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Oak Hill. TD Securities (USA) LLC served as sole bookrunner and Joint Lead Arranger with Citizens Bank, N.A., Pacific Western Bank and Webster Bank, N.A. for the senior secured credit facilities.
Thompson-Hamel, LLC acquires Bangor-based Farrington Financial Group
BANGOR — On Nov.30, 2016, the Presque Isle-based financial services firm of Thompson-Hamel, LLC purchased Farrington Financial Group, which was owned by Bangor businessman Frank Farrington. After completing renovations and completing the logistics of transitioning client accounts to its system, Thompson-Hamel is now open and operating in downtown Bangor at 27 State Street, Suite 21. Brian Hamel, Thompson-Hamel’s Managing Partner, will have an active presence at its Bangor office supported by former Farrrington Financial administrative staff, Regina Ross. In addition, Natalie Nadeau, who recently served as an Assistant Vice President at Camden National Bank in Bangor, has joined the firm to serve the 900+ Farrington clients and to develop a new client base in the Bangor area market. Thompson-Hamel provides estate planning, insurance, investment and payroll processing services for its clients throughout Maine and beyond. They can be reached by phone at 942-6741, by e-mail at bhamel@thompsonhamelLLC.com or nnadeau@thompsonhamelLLC.com or through its website at www.thompsonhamelLLC.com.
Lucy Shortsleeves, Certified Physician Assistant, Joins PCHC’s Penobscot Pediatrics
BANGOR — Penobscot Community Health Care is pleased to announce that Lucy Shortsleeves, PA-C, Certified Physician Assistant, has joined the medical staff of PCHC’s Penobscot Pediatrics, 1068 Union Street, Bangor. Mrs. Shortsleeves’ practice centers on all aspects of high-quality pediatric medical care, including patient physicals, acute visits, and health care maintenance.
Mrs. Shortsleeves received her undergraduate degree from Grove City College and her Master of Physician Assistant Studies from Massachusetts College of Pharmacy and Health Sciences. Prior to joining Penobscot Community Health Care, she served at Health South Pediatric Practices in Scituate and Marshfield, Massachusetts.
Kristen Martin, MD, Penobscot Pediatrics’ Medical Director, states, “We at Penobscot Pediatrics are very pleased to welcome Lucy Shortsleeves, PA-C to our team. She brings a breadth of knowledge and is already well respected by our providers, staff and her patients. She is a real asset to both Penobscot Pediatrics and to our community.”
Mrs. Shortsleeves is Board Certified by National Commission on Certification of Physician Assistants and seeing patients at Penobscot Pediatrics; for an appointment please call 947-0147. Penobscot Pediatrics is open seven days per week and, in addition to pediatric medical care, offers Walk-In Care, and Mental Health Services.
Dollar General opens new store in Eddington
EDDINGTON — Dollar General’s newest store at 1030 Main Road in Eddington celebrated its official grand opening on Saturday, Jan. 7, with prizes and special deals.
“Dollar General is committed to delivering a pleasant shopping experience that includes a convenient location, a wide assortment of merchandise and great prices on quality products,” said Dan Nieser, Dollar General’s senior vice president of real estate and store development, in a company press release. “We hope our area customers will enjoy shopping at Dollar General’s new location.”
The store will carry national name brands and private brands of food, housewares, seasonal items, cleaning supplies, basic apparel and health and beauty products.
Traditional Dollar General stores employ approximately six to 10 people, depending on the need. Anyone interested in joining the Dollar General team may visit the Career section at www.dollargeneral.com.