Uniti Group Closes on Purchase of 2 Companies

Uniti Group Closes on Purchase of 2 Companies

Uniti Group Inc. of Little Rock on Monday said it has closed on the previously announced acquisitions of Southern Light LLC of Mobile, Alabama, and Hunt Telecommunications LLC of Metairie, Louisiana.

The data transport services provider said it used cash on hand and borrowings under its revolving credit facility to pay the $749.5 million cash portion of the cash-and-equity deal. Uniti also issued 4.2 million operating partnership units.

President and CEO Kenny Gunderman said in a news release that both Southern Light and Hunt will operate under the Uniti Fiber brand in the company's fiber infrastructure segment.

He also said Andy Newton, who had been Southern Light's CEO, will serve as president infrastructure and operations. Ron Mudry will serve as president of sales and business development. Both will led Uniti Fiber.

Also, the executive team of Hunt will continue to have senior leadership positions in Uniti Fiber, where they will focus on e-rate, military and enterprise products and services.

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