Daily News: October 31, 2013

Golub Provides Facility to Support Freedom Dark Fiber Acquisition

Golub Capital announced that, as sole bookrunner and administrative agent, it provided a $59 million GOLD financing and $2 million equity co-investment to support the acquisition of Freedom Dark Fiber Networks by Wilcon Holdings. Wilcon is a portfolio company of Pamlico Capital. GOLD financings are Golub Capital’s one-loan debt facilities.

With the completion of this acquisition, Wilcon is one of the largest fiber optic networks in southern California. Wilcon has grown its fiber footprint by nearly 3,000 additional route miles, providing access to nearly 1,000 additional enterprise buildings, wireless communications sites, data centers and Internet hubs. The new customer-centric network provides a powerful value proposition to the region’s major industries by giving them access to connectivity into strategic submarkets not otherwise served by competitive providers.

“We are excited to support Pamlico Capital and the management team at Wilcon,” said Troy Oder, managing director at Golub Capital. “This investment represents our latest alliance with Pamlico in the communications infrastructure space, which is a target industry for our Software, Digital and Technology Services team. We value Pamlico’s disciplined investing approach in this sector, as well as their deep industry expertise.”

“Golub Capital has once again proven to be a valuable and reliable lender to our firm,” said Scott Stevens, partner at Pamlico Capital. “They provided a streamlined financing solution to support the combination of Wilcon and Freedom, and lived up to the high standard of execution they have established for themselves on past transactions.”

Founded in 1998, Wilcon is a leading provider of fiber optic network infrastructure in Southern California, connecting major colocation facilities, data centers and enterprise locations.

Founded in 2007, Freedom is a regional high-capacity dark fiber provider in Southern California. It delivers ultra-broadband solutions to businesses in a range of industries, including media and entertainment, financial services, healthcare, education, Internet services and wireless communications.