One Communications Sells FiberNet Business

One Communications, a portfolio company of Camulos Capital, Varde Investment Partners and Columbia Ventures, has divested its FiberNet business unit to NTELOS (NASDAQ: NTLS) for about $169 million. One Communications was advised by Blackstone Advisory Services and Kelley Drye & Warren on the transaction, while NTELOS was advised by Evercore Partners and Troutman Sanders. NTELOS also has PE-backing, as the integrated communications provider has been partly owned by Quadrangle Group since a $785 million LBO in 2005.