Simpson Thacher is representing Segra and affiliates of EQT Infrastructure in the sale of Segra’s commercial services business to Cox Communications. EQT Infrastructure will retain Segra’s residential and small-to-medium-sized business services business, which operates under the Lumos Networks and NorthState brands. The transaction is subject to customary conditions and approvals and is expected to close later in 2021.
Segra is one of the largest independent fiber infrastructure bandwidth companies in the Eastern U.S. It owns and operates an advanced fiber infrastructure network throughout nine Mid-Atlantic and Southeastern states. Segra provides Ethernet, MPLS, dark fiber, advanced data center services, IP and managed services, voice and cloud solutions, all backed by its industry-leading service and reliability. Headquartered in Charlotte, North Carolina, Segra employs more than 1,200 people and provides broadband data services across a 26,000-mile fiber network to a variety of customers including wireless carriers, healthcare providers, local government agencies, financial institutions, education institutions and residential customers.
The Simpson Thacher team includes David Lieberman, Matt Gabbard, Michael Schaeppi and Oscar Hwang (M&A); Eli Isak and Robyn Cho (Credit); Jonathan Goldstein and Bill Smolinski (Tax); David Rubinsky and Joo Hyun Lee (ECEB); Michael Isby (Environmental); Dennis Loiacono (Real Estate); and Lori Lesser and Bobbie Burrows (Intellectual Property).