Houston, TX - Jan. 3, 2018 - LOGIX Communications (“LOGIX”), a market-leading fiber-optic bandwidth infrastructure services provider based in Texas has completed the previously announced acquisition of Alpheus Communications (“Alpheus”). The acquisition is a transformational event and establishes LOGIX as the largest independent fiber provider in Texas. LOGIX’s equity sponsor, Astra Capital Management, supported the company by leading the negotiation, execution and funding of the transaction.
With the completion of this transaction, LOGIX gains tremendous network scale and expands its offerings in Dallas, Austin, San Antonio, and Houston (the “DASH” markets). LOGIX now has over 5,800 route miles of network spanning 180,000 fiber miles, the company serves over 12,500 enterprise and carrier customers across the largest and fastest growing markets in Texas. In addition to connecting to 75 data centers in Texas, LOGIX operates its own high-performance data center facilities in the DASH markets.
The combined company was renamed LOGIX Fiber Networks, and as part of the transaction, David Dane became the Chief Executive Officer of LOGIX, succeeding Interim CEO Matthew Murphy, Co-Founder and Partner of Astra Capital Management.
“We are excited to welcome Alpheus employees and customers to the LOGIX family, and we’re eager to rapidly integrate our combined networks, products and customer care operations,” said David Dane. “Our dedication to providing superior, local customer service with the most technologically advanced services to our enterprise and carrier customers will allow us to drive continued strong growth for our company and our clients.”
Matthew Murphy, currently the Executive Chairman of the LOGIX board of directors, said, “LOGIX has been successfully transformed by the exceptional direction of our management team that came on board when Astra bought the company in 2016. The expanded network created from this acquisition perfectly positions LOGIX to capitalize on the enormous opportunities we see in our markets.”
Kevin Beebe and Mark Johnson, Co-Founders and Partners of Astra Capital Management and members of the LOGIX board of directors, added, “The LOGIX investment and subsequent Alpheus acquisition embody the type of investments that Astra is uniquely equipped to make, and we are highly confident that LOGIX is now even better positioned for future growth with its enhanced scale, exceptional management team and supportive capital funding partners.”
Equity investors in the transaction comprised the existing ownership group led by Astra, as well as Astra Partners I and other co-investment partners, including Portfolio Advisors. Affiliates of SunTrust, Credit Suisse and Brightwood Capital provided the financing commitment and acted as joint lead arrangers on the debt placement. Financial terms of the transaction were not disclosed.
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About LOGIX Fiber Networks
LOGIX Fiber Networks is a well-established Texas-based provider of telecommunications services since 1983. The company focuses on providing highly secure fiber-based data and voice services to enterprise and carrier customers. LOGIX is known for its outstanding customer service and providing commercial services in a few days to a couple of weeks. LOGIX has developed streamlined and flexible processes to allow customers to focus on their business first. For more information, please visit logix.com.
About Astra Capital Management
Astra Capital Management is a Washington, D.C.-based, private equity firm that invests in growth businesses in the communications and technology services sectors. Astra targets highly scalable companies with proven business models that have positive free cash flow and significant growth potential. Post investment, Astra works closely with managers to drive value creation through strategic repositioning, revenue growth and operational enhancements. For more information, visit www.astracapitalmgmt.com.
About Portfolio Advisors
Portfolio Advisors, located in Darien, CT, is an independent, private markets investment specialist founded in 1994 with more than $20 billion in assets under management. Portfolio Advisors provide tailored private equity, private real estate and private credit investment solutions through commingled funds and custom advisory solutions via primary partnerships, secondary purchases, co-investments and direct mezzanine investments. For more information, visit www.portad.com.
Forward-Looking Statements
Statements included herein may constitute “forward-looking statements,” which relate to future events, the future performance, or financial condition of LOGIX Fiber Networks following the acquisition of Alpheus Communications. These statements are not guarantees of future performance, conditions, or results and involve a number of risks and uncertainties. Actual results and conditions may differ materially from those in the forward-looking statements as a result of a number of factors.