Astra Capital Management has acquired LOGIX Communications, a provider of business-focused communications services in Texas and Oklahoma. No financial terms were disclosed.
Waller Capital Partners served as financial advisor to LOGIX on the transaction.
Houston, Texas (November 5, 2015) LOGIX Communications (“LOGIX”), a telecommunications company that specializes in fiber-based enterprise voice and data services, today announced the completion of definitive agreements to be acquired by an investor group led by Washington, D.C.-based private equity firm Astra Capital Management (“Astra”).
LOGIX is a facilities-based provider of business-focused communications services in Texas and Oklahoma. Through its owned and leased network, LOGIX serves over 11,000 enterprise customers in its six core markets. With approximately 1,000 miles of dense fiber and connections to more than 2,500 buildings, LOGIX provides its enterprise customers high bandwidth services with a superior level of customer care.
“I am very excited about LOGIX’s next phase of growth,” said Ron Henriksen, founder and chairman of the board of LOGIX. “I’m extremely proud of the successes achieved by the management team led by CEO Matt Asmus, and I believe that under Astra’s partnership, LOGIX will continue to build a state-of-the-art network and provide superior customer service.”
Astra partner Matt Murphy said, “LOGIX Communications is a proven leader in its core Texas and Oklahoma markets. We look forward to continuing to expand the company’s fiber footprint and build a world-class regional broadband leader.”
Astra provides capital and expertise to communications and technology companies to enable their growth and expansion and is uniquely positioned to support LOGIX’s continued success. Astra partners Matt Murphy and Mark Johnson have decades of experience growing operations of and managing investments in vibrant companies in the broadband sector. Prior to co-founding Astra, Murphy served as president of Grande Communications and was previously SVP of corporate development for Atlantic Broadband, and Johnson was a managing director and global partner at the Carlyle Group with previous experience at Blackstone and Level(3) Communications.
The transaction will be financed through a combination of equity contributions by investment funds affiliated with Astra, Wafra Investment Advisory Group and DB Private Equity, a division of Deutsche Asset & Wealth Management and committed debt financing from Brightwood Capital Advisors. The transaction is subject to customary regulatory closing conditions.
Waller Capital Partners served as exclusive financial advisor to LOGIX.
About LOGIX Communications
LOGIX is a fiber-rich, competitive telecom company that leverages over three decades of expansion, innovation and investment to provide a wide range of communications services to business customers in large and fast growing metro markets in Texas and Oklahoma.
About Astra Capital Management
Astra Capital 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.
About Wafra Investment Advisory Group
Wafra is a global investment management firm headquartered in New York and beneficially owned by the Public Institution for Social Security of Kuwait. The Wafra group of companies has more than $17 billion of assets and commitments under management. The Wafra Real Assets & Infrastructure initiative seeks to partner with best in class operators of real asset-focused business and infrastructure.
About Deutsche Asset & Wealth Management
With USD 1.22 trillion of assets under management (as of September 30, 2015), Deutsche Asset & Wealth Management¹ is one of the world’s leading investment organizations. Deutsche Asset & Wealth Management offers individuals and institutions traditional and alternative investments across all major asset classes. It also provides tailored wealth management solutions and private banking services to high-net-worth individuals and family offices. DB Private Equity is a division of Deutsche Asset & Wealth Management, and a leading institutional alternative investment manager with over $12 billion AUM invested globally across primary, secondary and co-investment strategies.
¹ Deutsche Asset & Wealth Management is the brand name of the Asset Management and Wealth Management division of the Deutsche Bank Group. The legal entities offering products or services under the Deutsche Asset & Wealth Management brand are listed in contracts, sales materials and other product information documents.