Hargray to Acquire Dark Fiber Systems of Jacksonville, FL
SAVANNAH, GA and JACKSONVILLE, FL – January 30, 2019 – Hargray, a regional communications provider and metro-fiber over-builder, today announced an agreement to acquire Dark Fiber Systems (“DFS”), a dark fiber provider in Jacksonville, FL. This announcement follows Hargray’s agreement to acquire USA Communications’ Alabama assets as well as Hargray’s acquisition of several colocation facilities.
“We are pleased to announce our agreement to acquire Dark Fiber Systems and the resulting expansion of our presence in northern Florida,” said Hargray Chairman & CEO, Michael Gottdenker. “Our focus has been and remains to provide robust last-mile connectivity to businesses and residences throughout the Southeastern United States. We are eager to expand DFS’ unique network and bring Hargray’s full suite of communications solutions and our unmatched, superior customer service to businesses in Jacksonville.”
Chris McCorkendale, Senior Vice President of Hargray Fiber, added, “Hargray is deeply committed to providing advanced broadband access throughout the Southeast. We are dedicated to local service, community engagement, and have witnessed firsthand the demand for reliable communications solutions and responsive customer service. Specifically in Jacksonville, not only will we expand the footprint of DFS’ 150 route-mile network, but also we will provide multi-gig lit data services including dedicated Internet, customized multi-location Ethernet solutions, colocation & managed services, and enhanced voice and video solutions.”
DFS founder and CEO, Charles Nichols said, “We are proud of the solutions Dark Fiber Systems has provided to Jacksonville businesses and wireless carriers since 1997. It was our mission to provide commercial entities the very best access to virtually unlimited bandwidth with unmatched security. We are confident that Hargray will advance that mission and bring the additional scale and capabilities necessary to expand what we started 25 years ago.”
The transaction is expected to close by the end of the second quarter of 2019. Financial terms were not disclosed. For information about Hargray, please visit www.hargray.com.
UBS Investment Bank was financial advisor to DFS for this transaction.
Founded in 1949, Hargray is a regional telecommunications company providing advanced communications and entertainment services in a growing set of markets in the southeastern United States. Hargray delivers the most advanced technology and the best service for its customers and is active in the communities it serves by supporting a wide range of local charities, organizations, projects and events.
Michael McHugh at B. Riley FBR, Inc. was financial advisor to USA Communications for this transaction.