Paetec to acquire Cavalier Telephone
- September 13, 2010
Paetec Holding Corp. plans to acquire Richmond-based Cavalier Telephone LLC for $460 million.
The deal is a cash transaction involving Boston-based M/C Venture Partners, the majority owner of Cavalier. The merger will add 17,000 fiber-route miles to Paetec’s existing service footprint.
Paetec, which is based in Fairport, N.Y., obtained $420 million in financing from Deutsche Bank, Deutsche Bank Securities, Banc of America Bridge LLC and Banc of America Securities LLC.