Morrison & Co-led Investor Group Closes FiberLight Acquisition; In Addition, Peter Gallagher appointed new Chief Operating Officer
ATLANTA, GA and NEW YORK, NY / ACCESSWIRE / April 20, 2023 / A consortium led by funds managed by H.R.L. Morrison & Co ("Morrison & Co"), a premier global infrastructure investment firm, Australian Retirement Trust ("ART"), one of Australia's largest superannuation funds, and a managed client of UBS Asset Management, today announced that it has completed its acquisition of FiberLight, LLC ("FiberLight"), a leading fiber infrastructure provider with more than 20 years of experience building and operating mission-critical, high-bandwidth networks. In connection with the close of the transaction, FiberLight has appointed Bill Major as Chief Executive Officer, effective immediately.
Mr. Major is a seasoned telecommunications executive with more than 20 years of experience leading teams across sales, operations, and process improvement, and a track record of delivering strong operating performance and financial results. Most recently, Mr. Major served as CEO and President at Everstream Solutions, LLC, where he was responsible for overseeing the execution of Everstream's strategy as the premier enterprise and wholesale fiber platform in the Midwest of the United States and the sales, operations, legal, enterprise technology & IT and human resources executive leadership. He has also held other senior positions at Everstream and FiberTech.
"Bill is a proven executive who brings a wealth of infrastructure knowledge, telecommunications experience, and transformative leadership capabilities to FiberLight as the company builds its team and expands its footprint," said Perry Offutt, Partner and Head of North America at Morrison & Co and Chairperson of FiberLight's Board of Directors. "He is a purposeful changemaker with a customer-first approach, and is the ideal individual to lead the company forward in pursuit of continued growth and scale. On behalf of the consortium, we look forward to partnering with Bill and the FiberLight team to broaden and enhance essential connectivity services to businesses across the U.S."
Following the close of the transaction, FiberLight will have increased financial flexibility to invest in strategic builds and expand its current lit and dark fiber optical networks, including cross-border connectivity that supports international trade. Additionally, FiberLight will focus on developing new fiber assets, building diverse routes, and adding resiliency and redundancy to networks to ensure critical uptime for customers.
"I am pleased to join FiberLight at this exciting moment with the support of Morrison & Co, a leading global infrastructure investor, as well as our other impressive new shareholders," commented Mr. Major. "FiberLight's state-of-the-art networks will continue to attract high levels of demand, and our focus will be to support that demand by retaining proven talent within the organization while further fostering a culture of excellence and best-in-class customer service. I am eager to begin working closely with the team to provide world-class networking solutions and exceptional experiences for our customers, partners, and people as we work towards being the best provider in the market not just for today's digitally-enabled businesses, but for future generations."
In addition to Mr. Major's appointment, FiberLight has appointed Peter Gallagher as Chief Operating Officer. Mr. Gallagher is an experienced industry executive who has supported Morrison & Co in the planning and development of FiberLight's transformation program since September 2022. As Chief Operating Officer, Mr. Gallagher oversees the scaling of FiberLight's operations to ensure steady, strategic growth across the wider fiber infrastructure marketplace.
ENDS.
About Morrison & Co
Morrison & Co is a purpose-driven global infrastructure investment manager. Founded in 1988, it manages over US$18 billion of funds at 31 December 2022. Morrison & Co is a pioneer in infrastructure, investing into long-term themes such as decarbonization and digitization. Its investments help enhance the lives of local communities. Morrison & Co invests on behalf of sovereign wealth funds, pension funds, family offices, endowments and other public and private pools of capital. Morrison & Co is set apart by a management style that integrates deep industry specialization with financial and transactional expertise.
For more information, visit https://hrlmorrison.com/
About FiberLight
FiberLight designs, builds, and deploys mission-critical high bandwidth networks to ignite our clients' digital transformation. With approximately 18,000 route miles of fiber networks and 78,000 pre-qualified near-net buildings, FiberLight operates in over 30 metropolitan areas in the U.S. Our service portfolio includes high-capacity Ethernet and Wave Transport Services, Cloud Connect, Dedicated Internet Access, Dark Fiber and Wireless Backhaul serving domestic and international telecom companies, wireless, wireline, cable and cloud providers as well as key players across enterprise, government, and education.
For more information, visit fiberlight.com or follow us on Twitter @FiberLight_LLC.
MEDIA CONTACTS:
Morrison & Co
Nathaniel Garnick/Amanda Shpiner
Gasthalter & Co.
212-257-4170
[email protected]
FiberLight
Jason Ouellette
Escalate PR
617-240-1516
[email protected]
SOURCE: FiberLight