Goodwin Procter, Simpson Thacher & Bartlett and Paul Hastings are advising on Pilot Fiber’s proposed acquisition of Boldyn Networks’ New York and New Jersey metro fiber business, alongside a new financing of more than $330 million led by Fengate Asset Management.
Pilot Fiber, an enterprise connectivity provider in the New York metropolitan area, has entered into a definitive agreement to acquire the fiber business as it seeks to expand its network footprint across the region. The transactions are expected to close in the second quarter of 2027, subject to customary closing conditions and regulatory approvals.
Goodwin Procter is acting as legal counsel to Pilot, while Simpson Thacher & Bartlett is advising Fengate. Paul Hastings is serving as legal adviser to Boldyn Networks.
Fengate, an infrastructure investment manager with more than $20 billion in assets under management, is making its equity investment through Fengate Infrastructure Fund V. Its investment is led by Warren Roll, managing director and head of digital infrastructure, who will join Pilot’s board of directors.
The financing will support Pilot’s continued expansion following its acquisition of Extenet’s enterprise fiber business in August 2026. The company’s second acquisition is expected to significantly increase its presence across New York City’s five boroughs and New Jersey.
The assets being acquired include Boldyn’s New York City fiber network, which supports data centre connectivity, smart city infrastructure and enterprise services, as well as its New Jersey network serving commercial and carrier customers.
Following completion, Pilot expects its network to span more than 1,600 route miles of fiber, connecting over 1,200 buildings and 50 data centres.
The acquired assets include more than 860 route miles of fiber extending into New Jersey commercial corridors, with an established presence among healthcare and financial services businesses. The network also provides expanded connectivity across Brooklyn, Queens, the Bronx and Staten Island, extending to the Nassau County border.
The business currently serves approximately 100 enterprise, carrier and institutional customers. Pilot plans to integrate these customers following the transaction’s completion.
The company intends to offer its full suite of connectivity products across the combined network, including dedicated internet access, Ethernet transport, dark fiber, wavelength services and IP transit.
Financial and legal advisers
Guggenheim Securities acted as financial adviser to Fengate, while Leo Berwick provided tax and financial due diligence advice. The Bank Street Group acted as exclusive financial adviser to Boldyn Networks.
Financial terms of the acquisition were not disclosed.
Boldyn Networks will continue using the combined fiber networks to support its wireless business in the region, including connectivity infrastructure at public transport hubs, government facilities, commercial buildings and large venues.
