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Paetec to acquire Cavalier Telephone

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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.


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