CROWN CASTLE INC. acquires FiberNet (FPL FiberNet Holdings, LLC)
Snapshot
CROWN CASTLE INC. acquired FiberNet (FPL FiberNet Holdings, LLC) for approximately $1.5 billion in January 2017. The transaction was structured as all cash. FiberNet (FPL FiberNet Holdings, LLC) is a Florida and Texas; ~11,500 route miles of fiber-based Fiber / small cells business.
- Acquirer
- CROWN CASTLE INC.
- Target
- FiberNet (FPL FiberNet Holdings, LLC)
- Value
- approximately $1.5 billion
- Date
- January 2017
- Type
- full acquisition
- Status
- ready
The deal at a glance
About this deal
CROWN CASTLE INC. acquired FiberNet (FPL FiberNet Holdings, LLC) for approximately $1.5 billion, a transaction completed in January 2017, structured as all cash.
FiberNet (FPL FiberNet Holdings, LLC) operates in Fiber / small cells, is based in Florida and Texas; ~11,500 route miles of fiber. Crown Castle acquired FPL FiberNet Holdings, LLC and certain other subsidiaries of NextEra Energy, Inc. (collectively, FiberNet) for approximately $1.5 billion in cash. FiberNet is a fiber services provider in Florida and Texas that owned or had rights to approximately 11,500 route miles of fiber installed and under construction.
Expands Crown Castle's fiber assets supporting small cell networks; one of three fiber platforms (with NextG and Sunesys) underpinning the small cells segment.
Dense metro fiber in two large states, complementary to Crown Castle's small-cell strategy. Crown Castle fiber / small cells segment
No advisory firms have been disclosed for this transaction.