Able Telecom Holding Corporation

This Company Is No Longer Active:   Bracknell Corporation acquired Able Telecom Holding Corporation in December 2000 in an all-stock transaction valued at more than $100 million. The company also operated briefly as Adesta Communications after the purchase, although it was described at the time as a "shell holding company." Its subsidiary, MFS Network Technologies, was sold to an investor partnership between McCarthy Group and some of the company's executives, and was renamed Adesta LLC.

Able Telcom is a developer of fiber optic and other communications networks with a CLEC subsidiary, and was acquired by Bracknell Corporation, a Toronto-based provider of infrastructure services.  Under the deal, announced August 2000, Bracknell and WorldCom, Inc. will form a strategic alliance in which Bracknell will perform at least 75% of WorldCom's network build out over the next 6 years.  As part of this transaction, WorldCom, an Able Telcom shareholder, will convert its equity holdings in Able Telcom into Bracknell common shares and will become a major Bracknell shareholder with an approximate 14% interest.

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