Houlihan Lokey Advises Archtop Fiber
Houlihan Lokey is pleased to announce the successful placement of $190 million of committed capital for Archtop Fiber LLC (Archtop), a portfolio company of Post Road Group (Post Road). The financing consisted of a $190 million senior credit facility. Proceeds from the transaction will be used to fund the construction of the company’s fiber network. The transaction closed on April 1, 2025.
Headquartered in Kingston, New York, Archtop is a fiber infrastructure platform providing high-speed internet to communities in the Hudson Valley of New York, the Berkshires of Massachusetts, and other underserved communities in the Northeastern U.S. The company is supported by a sizeable equity investment from Post Road.
Post Road has been a leading infrastructure investor since its founding in 2015 and has more than $1.6 billion of assets under management. The firm originates and executes investments across four distinct but complementary strategies: Corporate, Specialty Finance, Real Estate Credit, and Real Estate Equity.
Archtop sought to raise debt to complement Post Road’s equity investment and fund the construction of ~160,000 fiber-to-the-home passings. Prior to the debt raise, Post Road’s equity commitment had financed the construction and the acquisitions of three local exchange carriers to provide a base of operations for the business.
Houlihan Lokey ran a comprehensive financing process in which it approached regional banks, infrastructure funds, and private credit funds to evaluate a $190 million committed construction financing. Houlihan Lokey was able to leverage competitive tension among several types of lenders to secure attractive financing terms. The key sponsor and company objectives that were met included: (i) raising sufficient capital to fund the remaining portion of the company’s build plan, (ii) optimizing the balance between cost of capital and operational flexibility, and (iii) finding a new, long-term financing partner aligned with the sponsor’s and the company’s goals.
Houlihan Lokey’s Capital Solutions Group served as an exclusive placement agent to Archtop, assisting the company in arranging, structuring, and negotiating the financing.
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