ExteNet Systems, a provider of distributed networks enabling outdoor and indoor wireless connectivity, announced Digital Bridge Holdings and Stonepeak Infrastructure Partners committed or arranged for over $1 billion in a recapitalization of the company in which the interests of existing investors will be acquired and additional capital will be provided to support the long-term growth of the business.

SunTrust Robinson Humphrey is the administrative agent for debt financing for the transaction. In addition to SunTrust, the bank syndicate includes Barclays Bank, Deutsche Bank, Toronto-Dominion Bank, CIT Finance and the Royal Bank of Canada. Reed Smith provided legal representation to ExteNet, and Paul, Weiss, Rifkind, Wharton & Garrison represented ExteNet’s preferred stockholders in connection with the transaction. Digital Bridge and Stonepeak were represented by Simpson, Thacher & Bartlett. TAP Advisors served as financial advisors to the company and the selling shareholders.

The recapitalization will enable ExteNet to continue pursuing strategic deployment of outdoor and indoor distributed networks, including Small Cells, to meet the network densification and the advanced wireless connectivity needs of its customers, which include wireless carriers and venue owners.

Key members of the ExteNet executive management team, including co-founder and CEO Ross Manire, will remain with the company and continue to be investors in it. Digital Bridge CEO Marc Ganzi will assume the position of Chairman of the Board at ExteNet after the closing of the transaction. Also joining Manire on the Board will be Warren Roll of Digital Bridge and Trent Vichie and Brian McMullen of Stonepeak.