LEWISTON — Plans were announced Thursday to sell Oxford Networks to a new capital group that would merge it with a New York-based fiber optics company.
Spokesman Paul Badeau said it was too soon to tell what, if any, impact it would have on Oxford’s Lisbon Street headquarters and its roughly 180 employees.
Novacap and Bank Street Capital agreed to sell Oxford Networks to Oak Hill Capital Partners, according to a news release.
In March, Oak Hill Capital Partners entered a deal to buy FirstLight Fiber, which operates in New York, Vermont and New Hampshire. By merging Oxford Networks and FirstLight, the two companies would have 10 data centers and 4,800 miles of high-capacity fiber-optic network across New England and New York.
“The team at Oxford has been successful in transforming the company from a local exchange carrier into a strategic provider of next-gen telecommunications and IT services,” Oxford Networks’ President and CEO Craig Gunderson said in the news release. “We are excited for the next stage of growth, as we will be able to better serve our customers through the expanded network, data centers and product portfolio.”
FirstLight has fewer than 100 employees, Badeau said. Any decisions on a potential name change or staffing changes will become clearer by the end of the year, he said.
Novacap bought Oxford Networks two years ago. This new sale is expected to close in the fourth quarter, pending regulatory approvals.
kskelton@sunjournal.com
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