Charlesbank Capital Partners, LLC announced it has acquired a substantial equity interest in C2C Fiber of Massachusetts, LLC, which owns, operates, and constructs fiber-optic networks. Charlesbank will invest $20 million to help the company finance its network build plans in Massachusetts.
C2C plans to fill the growing need for fiber capacity outside Boston by building a 230-mile underground fiber-optic network, installing high volumes of fiber and selling strands to carriers who want to own network infrastructure in the region. The company is building pursuant to construction rights of way granted by the Massachusetts Highway Department, with 25 miles completed so far. Among the targeted routes is I-495, a fast-growing technology corridor, which major companies such as Sun Microsystems, Nortel and Cisco have chosen as the site for new facilities.