Everstream to Receive $50M from M/C Partners, J.P. Morgan
September 14, 2015
M/C Partners and J.P. Morgan's private equity group have agreed to invest $50 million in Everstream Solutions, a U.S. network service provider that brings fiber-based ethernet, internet and datacenter solutions to business customers throughout northeast Ohio. The transaction is set to close October 15. Everstream is a subsidiary of OneCommunity, a nonprofit focused on fiber-based services to healthcare, government and education customers. As part of the deal, Everstream will acquire a majority of the fiber assets owned by OneCommunity and be structured as a standalone organization, of which OneCommunity will retain a minority interest.