Kirkland & Ellis LLP represented WOW!, a leading provider of high-speed Internet, cable TV, and phone services, and Avista Capital Partners in the sale of a significant stake in WOW! to funds managed by New York-based private equity firm Crestview Partners. Under the terms of the agreement, Crestview’s funds will purchase units held by Avista and other unitholders, and make a $125 million primary investment in newly-issued units. The transactions are expected to close on or prior to December 31, 2015. Other financial terms were not disclosed. More details on the transaction are available here.
The Kirkland team included corporate partners Jai Agrawal, Joshua Kogan and Dvir Oren. Credit Suisse acted as financial advisor to WOW! and Avista in connection with the transaction. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to Crestview in connection with the transaction.