Basalt Infrastructure Partners LLC (Basalt) and SDC Capital Partners, LLC (SDC) announced today that the fourth flagship Basalt fund (Basalt IV) has agreed to acquire Fatbeam Holdings, LLC (Fatbeam or the Company) from a fund managed by SDC and other investors (the Transaction). The Transaction is conditional on obtaining customary regulatory approvals and is expected to be completed in Q2 2023.
Fatbeam is a broadband service provider that owns and operates a 1,250 route mile fiber network in the western United States. The Company is a leading provider of fiber-based network solutions to education, commercial, carrier, and government customers across eight states. The Transaction is Basalt’s second digital infrastructure investment in North America and represents the first investment by Basalt IV.
Latham & Watkins LLP represents Basalt in the transaction with a corporate deal team led by Houston / New York partner Ravi Purohit and New York partner Jason Webber, with associates Greg Sorensen, Kara Chung, Mark Goshgarian, Zainab Hashmi, Jeffrey Romano, Justin Reinking, and Tasbiha Batool. Advice was also provided on tax matters by Houston partner Jared Grimley, with associate Chelsea Muñoz-Patchen; on benefits and compensation and matters by Los Angeles partner Julie Crisp, with associate Aaron Tso; on labor and employment matters by New York counsel Sandra Benjamin; on regulatory matters by Washington, D.C. partners Jim Barker and Elizabeth Park, with associate Michael Herman; on intellectual property matters by Washington, D.C. counsel Kieran Dickinson; on environmental matters by Los Angeles partner Joshua Marnitz, with associate Olivia Pettingill; on data privacy matters by Houston counsel Robert Brown; on real estate matters by San Diego partner Robert Frances and counsel Aaron Friberg, with associate David Rao; on antitrust matters by Washington, D.C. partner Jason Cruise and counsel Peter Todaro and Patrick English; on finance matters by Houston counsel Bryce Kaufman; on government contract matters by Washington, D.C. partner Kyle Jefcoat, with associate Julia Lippman; and on representation and warranty insurance matters by Los Angeles partner Drew Levin, with associates Harrison White and Jesse Kirkland.