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FiberLink, LLC Acquires Pathnet Route
FiberLink, LLC, has successfully completed the acquisition of a state-of-the-art fiber optic network owned by Pathnet Operating Inc., located between downtown Chicago and downtown Denver. In conjunction with a Chicago private investment firm, three rural telephone exchange companies and one fiber optic provider, the assets were purchased on July 20, 2004 in a Chapter 7 proceeding in the US Bankruptcy Court for the Northern District of Virginia.
The fiber route was jointly built and owned by 360networks and Pathnet prior to bankruptcy filings by both entities. The 360networks assets were sold to a major telecommunications carrier earlier this year and the acquisition by FiberLink of the Pathnet assets provides new ownership for both halves of the route.
"With a major telecommunications carrier as our operating partner, we can assure each customer the finest quality and most reliable service," Kenneth D. Anderson, Chairman of FiberLink said.
The assets acquired by FiberLink consist of nearly 100,000 miles of individual fiber strands and up to seven blank conduits throughout the 1,160-mile route as well as Nortel OC-192 optical transmit electronics. FiberLink also owns the joint use of 29 regeneration sites constructed at strategic intervals along the route.
Anderson said, "This network was built with nothing but the best that money could buy and to top matters off, it has hardly been used. It is truly a unique opportunity for Fiberlink, LLC and rural companies along the entire route."
The FiberLink business plan is to sell dark fiber or provide connectivity services to telecommunications providers such as local telephone exchange companies, cable TV companies, ISP's, wireless carriers and others who have facilities on or near the route or desire to use all or parts of the route for divergent paths.
"By buying voice, video or data services that may be offered by FiberLink, this network will allow rural communications companies pricing advantages that thus far have only been available to major communications companies." Mr. Anderson further stated, "With our enormous asset base, some local providers may wish to acquire their own dark fiber from our inventory at a cost dramatically lower than that of building their own route."
The owners of FiberLink are companies or individuals associated with Anderson Pacific Corporation, a Chicago private equity firm involved in rural telecommunications; Pinpoint Communications, Inc., the holding company for the Cambridge, Nebraska local telephone exchange; Geneseo Communications, Inc., the holding company for the Geneseo, Illinois local telephone exchange and Cass Communications, Inc., the owner of the Virginia, Illinois telephone company. Additional funding was provided by Columbia Ventures Corporation of Vancouver, Washington, a venture firm with investments in fiber networks in the Pacific Northwest, New England and across the Atlantic.
FiberLink will be headquartered at the Anderson Pacific office in Chicago, Illinois, and will be supported by the staff of Pinpoint in Cambridge, Nebraska.
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Photos, interviews and actualities are available upon request.
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Kenneth D. Anderson
Chairman
312.951.8500
J. Richard Shoemaker
President
308.697.3333
Howard Kauk
Chief Operations Officer
308.991.0708
Ralph Armendariz, P.E.
Chief Technology Officer
308.697.3333
Christopher J. Jensen
Director of Business Development
312.602.5488
Sheila Hillius
Director Contract Administration
308.697.3333
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