Last week a friend asked who was acquiring Telx. I told him I didn't know but, I found the tweet on Telx being acquired and posted the question.
WEDNESDAY, AUGUST 3, 2011 AT 8:44AM
Found this Tweet.
Well, here is the press release with the answer.
The Telx Group Acquired by ABRY Partners and Berkshire Partners
GI Partners Sells Leading Colocation and Interconnection Company to Two Boston-Based Investment FirmsAugust 8, 2011 9:30 AM EDT
MENLO PARK, CA and BOSTON, MA -- (MARKET WIRE) -- 08/08/11 -- GI Partners ("GI"), a leading mid-market private investment firm, announced today the sale of its portfolio company, The Telx Group, Inc. ("Telx"), one of the fastest growing providers of global interconnection and colocation facilities, to ABRY Partners and Berkshire Partners LLC, two Boston-based investment firms. Terms of the transaction were not disclosed.
Telx facilities serve over 900 customers with approximately 34,000 interconnections, and customers can connect with hundreds of communication service providers, enterprises and cloud providers in Telx facilities. The company was acquired by GI Partners in 2006 and, under the investment firm's nearly five-year stewardship, Telx achieved considerable organic growth in its existing markets and also dramatically improved its competitive position as a result of key add-on acquisitions. The company has since developed a national footprint of 15 locations starting from two facilities at the time of acquisition. GI Partners also significantly expanded the management team with the appointment of industry veteran Eric Shepcaro as CEO, in addition to several other senior positions. As a result of these and other initiatives, Telx achieved dramatic sales and EBITDA gains, including topline growth of over 40% throughout the hold period despite the recession, landing on the Inc. 5000 list two consecutive years in a row and earning a nod from Red Herring as a Top 100 North American Company.