Loading...
HomeMy WebLinkAboutNotice of Completion of Transaction - 2026-06-15June 15, 2026 VIA CERTIFIED MAIL City of Gilroy Attn - City Administrator 7351 Rosanna Street Gilroy, OA 95020 Berliner Cohen lOAImaden Boulevard San Jose, CA 95113 Arium Networks 1500 Corporate Drive Canonsburg, PA 15317 RE: Notice of Completion of Transaction Dear Valued Partner: Crown Castle Fiber LLC, a New York limited liability company ("CCF"), hereby notifies you, our valued partner, of the transfer of control of CCF, formerly a wholly owned, indirect subsidiary of Crown Castle Operating Company, a Delaware limited liability company ("Crown Castle"), to Small Cells HoldCo Inc., a Delaware corporation ("EOT Purchaser"), which is ultimately controlled by EOT Active Core Infrastructure Fund ("EOT"). By way of background, on March 13, 2025, Crown Castle, EOT Purchaser, and one other party entered into a Stock Purchase Agreement pursuant to which (i) Crown Castle executed a series of internal pre-closing restructuring steps so that the small cell business segments of Crown Castle's operating subsidiaries (the "Small Cell Business") continue to operate through CCF and its subsidiaries; and (ii) following the restructuring, EOT Purchaser indirectly purchased from Crown Castle all the equity interests in CCF and its subsidiaries, thereby obtaining control of CCF and its subsidiaries (including the Small Cell Business).^ The transaction (the "Small Cell Transaction") closed on May 1, 2026, at which time the enterprise value of the Small Cell Business was more than $4 billion. EOT Purchaser and its subsidiaries, which today include CCF and its subsidiaries, are collectively referred to as Arium Networks ("Arium Networks"). The actions listed above did not comprise the entirety of the transaction but are expressed here as directly related to control of CCF and the Small Cell Business. A corporate structure chart depicting ownership of Arium Networks following consummation of the Small Cells Transaction appears below:^ Small Cells HoldCo Inc. (Delaware) Small Cells LLC (Delaware) / Crown Castle Fiber LLC ^I (New York) J Various Subsidiaries Following the Small Cell Transaction, CCF continues to hold the authorizations necessary to provide intrastate telecommunications services in the District of Columbia and every U.S. state, except Alaska. Arium Networks and its owners are managerially, technically, and financially well-qualified to have effectuated the Small Cell Transaction and assume ownership and control of CCF (and the Small Cell Business) and continue the operation thereof. As previously noted, Arium Networks (including CCF) is ultimately managed by EQT EOT, founded in Sweden in 1994, is a leading alternative investments firm, with offices in 25 countries across Europe, Asia, and the Americas and more than 1,850 employees. EQT has approximately $318 billion in total assets under management, including approximately $170 billion in fee-generating assets under management across more than 40 active funds.^ EQT has Certain intermediate holding entities between EQT and Small Cells HoldCo Inc. and between Small Cells LLC (a holding company in the Arium Networks corporate structure for tax purposes) and Crown Castle Fiber LLC have been excluded from this corporate structure chart for simplicity. Information related to offices, total employees, assets under management, and active funds is provided as effective on December 31,2025. decades of experience operating telecommunications infrastructure in a wide variety of jurisdictions around the world, including across the United States. Specifically, EQT has deep experience overseeing U.S. domestic carriers with its current ownership of Zayo, Lumos, and its ownership of Segra prior to the sale of that business to Cox Communications in 2021. Arium Networks will call upon EQT's expertise through its ownership of the Small Cell Business, as well as the experienced employees that have operated the Small Cell Business under Crown Castle's prior ownership. More information can be found on EQT's website at www.eatqroup.com. We anticipate changing the legal name of CCF in the coming weeks and will notify you after the change has occurred. If you have any questions regarding the contents of this notice, please contact Arium@porterwriaht.com. We look fonward to continuing our positive relationship with you. Thank you, Jerry Karnick Chief Legal Officer Arium Networks AyUSPS CERTIFIED MAILArium Networks1500 CORPORATE DRIVECANONSBURC, PA 15317USPS CERTIFIED MAILreceivedJUN 2 5 2026BERLINER COHEN$8.86 US POSTAGEFIRST-CLASS IMIJun18 2026Mailed from ZIP 152221 OZ FIRST-CLASS MAIL LETTERRATE063S00114856409414 8118 9876 5520 4467 38Berliner Cohen10ALMADEN BLVDSAN JOSE OA 95113-2226i„i|.ii.|iilil|ii.iii|i|,.||i|i|i..|.|i|H'>i|i|l'li'