ZenFi to Explore Options Including Equity Raising, Sale

(Bloomberg) -- ZenFi Networks, a communications infrastructure company that provides the fiber network supporting the LinkNYC kiosks scattered across New York City, is exploring strategic options including raising equity for growth, according to people with knowledge of the matter.

The New York-based company, working with advisory firm Bank Street Group, is also considering a sale in which it could fetch around $750 million, said some of the people, who requested anonymity because the talks are private.

Representatives for ZenFi and Bank Street declined to comment.

ZenFi, founded in 2013 and led by Chief Executive Officer Ray LaChance, may attract interest from suitors including infrastructure-focused private equity firms as well as telecommunications companies and real estate investment trusts that specialize in digital infrastructure, the people said.

The company, which serves New York and New Jersey, is backed by Cross River Fiber LLC and Ridgemont Equity Partners and operates over 1,000 route miles of fiber optic network, according to its website. Its partners include AT&T Inc. and Sprint Corp..

To contact the reporters on this story: Gillian Tan in New York at gtan129@bloomberg.net;Liana Baker in New York at lbaker75@bloomberg.net

To contact the editors responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net, ;Elizabeth Fournier at efournier5@bloomberg.net, Matthew Monks, Michael Hytha

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