Fibre network provider Zayo Group has signalled its intention to launch an initial public offering to raise up to US$100m.
The private equity-backed enterprise player has mandated Morgan Stanley, Barclays and Goldman Sachs as lead underwriters on the…
Fibre network provider Zayo Group has signalled its intention to launch an initial public offering to raise up to US$100m.
The private equity-backed enterprise player has mandated Morgan Stanley, Barclays and Goldman Sachs as lead underwriters on the listing, according to an SEC filing.
The telco’s revenues rose from US$382m in 2012 to US$988m in 2013, although Zayo recorded a net loss of US$149m and has around US$3bn of debt. It disclosed EBITDA of US$567m in its last full-year results.
Zayo has grown through acquisitions, buying up 30 businesses since it was founded in 2007 for a total purchase price of US$3.7bn.
It is owned by investment firms including Battery Ventures, Charlesbank Capital Partners, Columbia Capital, GTCR, M/C Partners and Oak Investment Partners. A report in early May suggested an IPO could value Zayo at US$7bn.
Based in Boulder, Colorado, it controls a 77,000 mile fibre network and serves wireline and wireless operators, data centres, ISPs, high-bandwidth enterprises and government agencies in the US and Europe.
