Birch Communications acquires Cbeyond for $323 million
Clients Birch Communications
Jones Day advised Birch Communications Inc., a leading IP-based communications and cloud services provider to small and medium businesses, in the acquisition and related financing of Cbeyond, Inc., a technology ally to small and mid-sized businesses, for $323 million. The $500 million secured financing consisted of a $450 million term loan and a $50 million revolving credit facility provided by PNC Capital Markets LLC and Jefferies Finance LLC .
In addition to M&A representation, Jones Day provided banking and private equity advice regarding this transaction.