Golub Capital announced that, as sole bookrunner and administrative agent, it provided a $59 million GOLD financing and $2 million equity co-investment to support the acquisition of Freedom Dark Fiber Networks ("Freedom") by Wilcon Holdings ("Wilcon"). Wilcon is a portfolio company of Pamlico Capital ("Pamlico").
Founded in 1998, Wilcon is a leading provider of fiber optic network infrastructure in Southern California connecting major colocation facilities, data centers and enterprise locations. With unparalleled network density and connectivity across downtown Los Angeles' Internet and telecommunications corridor, the company offers both dark fiber and lit services to international and domestic carriers and enterprises. Wilcon also owns and operates leading data center and carrier-neutral colocation facilities in downtown Los Angeles, including its key hub at the One Wilshire Building.
Founded in 2007, Freedom grew rapidly to become a leading, regional high- capacity dark fiber provider in Southern California. With vast network reach, Freedom delivers ultra-broadband solutions to leading businesses in a broad range of industries including media and entertainment, financial services, healthcare, education, Internet services and wireless communications.
With the completion of this acquisition, Wilcon is now one of the largest fiber optic networks in southern California. Wilcon has grown its fiber footprint by nearly 3,000 additional route miles, providing access to nearly 1,000 additional enterprise buildings, wireless communications sites, data centers and Internet hubs. The new customer-centric network provides a powerful value proposition to the region's major industries by giving them access to connectivity into strategic submarkets not otherwise served by competitive providers.
"We are excited to support Pamlico Capital and the management team at Wilcon," said Troy Oder, managing director at Golub Capital. "This investment represents our latest alliance with Pamlico in the communications infrastructure space, which is a target industry for our Software, Digital and Technology Services team. We value Pamlico's disciplined investing approach in this sector, as well as their deep industry expertise."
"Golub Capital has once again proven to be a valuable and reliable lender to our firm," said Scott Stevens, partner at Pamlico Capital. "They provided a streamlined financing solution to support the combination of Wilcon and Freedom, and lived up to the high standard of execution they have established for themselves on past transactions."
With over $8 billion of capital under management, Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings (through the firm's proprietary MiniGOLD, GOLD, and MegaGOLD facilities), senior, second lien, and subordinated debt, preferred stock and co-investment equity.