GTCR to buy Onvoy

GTCR has agreed to acquire Minneapolis-based Onvoy LLC, a voice-enabling services provider. The seller was Communications Infrastructure Investments. No financial terms were disclosed for the transaction that is expected to close in the first quarter of this year. Stephens Inc provided financial advice to GTCR on the deal.


Chicago, IL – January 6, 2016

GTCR, a leading private equity firm, announced today that it has signed a definitive agreement to acquire Onvoy, LLC (“Onvoy” or the “Company”) from Communications Infrastructure Investments. Onvoy, headquartered in Minneapolis, Minnesota, is a leading provider of wholesale voice-enabling services nationwide.

Onvoy provides easy-to-use voice and text functionality to carriers and integrators that choose to focus on customer-facing applications and service rather than infrastructure management. The Company combines an intuitive software interface with its nationwide network of physical switches and dedicated transport to offer leading wholesale telecommunication services. Onvoy’s customers include major wireless carriers, rural telephone companies, high-growth Voice over IP (VoIP) and Over-The-Top (OTT) communications companies.

As part of the transaction, GTCR will partner with CEO Fritz Hendricks and the Onvoy management team as they continue to grow and develop the company’s service offerings and geographic breadth. GTCR combined its long history of investment in the Telecommunications industry with its recent experience working directly with Onvoy to identify the company’s unique position in the marketplace.

GTCR is currently a minority shareholder in Onvoy and has a representative on the board. This unique position allowed GTCR to better understand the strong value proposition that Onvoy offers its customers.

“GTCR has played a leadership role in support of Onvoy’s vision to expand network reach and enable communications for the evolving voice, messaging, and wireless market,” said Mr. Hendricks. “I look forward to GTCR’s expanded ownership and greater level of participation as we accelerate our growth objectives.”

”Fritz and his team have built a platform that is well-positioned to power the next generation of telecommunications providers,” added GTCR Principal Lawrence Fey. “We believe a streamlined ownership structure will help the team continue to pursue product innovation and strategic acquisitions.”

The transaction is expected to close in the first quarter of 2016.

Stephens Inc. served as financial advisor to GTCR and Latham & Watkins LLP provided legal counsel. Gibson Dunn & Crutcher LLP provided legal counsel to Onvoy.

About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $12 billion in over 200 companies. For more information, please visit

About Onvoy
Onvoy, the nation’s third largest CLEC by rate center coverage, provides an extensive array of voice and messaging communications services to meet the needs of today’s leading telecom carriers and services providers. Onvoy delivers API-driven origination, messaging, termination, 911 and toll free as well as traditional telephony services, including tandem, database and OS/DA. White-label hosted PBX and vFax round out Onvoy’s innovative, customer-focused solutions. Founded in 1991, Onvoy is based in Minnesota. For more information, visit Onvoy at