Simpson Thacher represented Apollo Global Management, Inc. (“Apollo”) in connection with a $200 million preferred equity investment in FirstDigital Telecom (“FirstDigital”), a leading fiber-based carrier in the western United States. Apollo’s investment will support FirstDigital’s growth strategy, inclusive of its recent acquisition of Veracity Networks LLC, a transaction that will position FirstDigital as the largest fiber operator in Utah. In addition, the investment will provide FirstDigital with liquidity to fund its longer-term growth plans.
FirstDigital is a leading fiber-based carrier in the Western United States providing a full suite of business services including Local Voice, Long Distance, Internet, VOIP, CO-Location, Managed Services and Fiber-to-the-Tower/Premise. Since 2000, FirstDigital has built, operated and maintained fiber networks for enterprises, government, health care, education and financial institutions. FirstDigital’s customer-centric model gives clients overall economic value, an industry-leading quality of service experience and increased business productivity.
The Simpson Thacher team includes Brian Chisling, Shamus Crosby, Jacqui Bogucki, Justin Lim, Hunter Hampton, Hadley Nagel and Ricky Legg (M&A); Matthew Einbinder, Daniel Biller, Noah DeBlasi and Patrick Wolff (Banking & Credit); Nancy Mehlman, Joseph Tootle and Lina Pan (Tax); and Allison Sweeney (ECEB).