NewSpring Capital said Wednesday it has agreed to buy X5 Solutions. Financial terms weren’t announced. Seattle-based X5 provides telecommunication software.
RADNOR, Pa.–(BUSINESS WIRE)–NewSpring Capital (“NewSpring”), a family of private equity funds, announced today that NewSpring Holdings, the firm’s dedicated control buyout strategy, signed a definitive agreement to purchase X5 Solutions. Headquartered in Seattle, Wash., X5 Solutions is a privately held company focused on providing a complete suite of telecommunications solutions.
The transaction is pending regulatory approval and targeted to close in March, 2015.
NewSpring has partnered with a new senior executive team with experience leading and growing companies in the telecommunications industry to acquire X5 Solutions. Greg Forrest and Rick Hirsh bring decades of executive-level experience serving as founders and CEOs of several large, successful B2B technology service providers and technology integrators.
The acquisition is part of a long-term growth strategy by NewSpring to help provide X5 customers broader, more extensive coverage with consistent world-class service levels. As part of the transaction, there will be significant investment to enable X5 to expand its network infrastructure, operational capacity and work force.
X5 Solutions offers a complete suite of custom telecommunications solutions, from Traditional Voice and Data Services to SIP Trunking, Hosted Voice, Conferencing, Unified Communications and Ethernet. From the company’s roots in the Pacific Northwest to its current status as an international provider of telecom solutions, X5 consistently has focused first on customer service.
About NewSpring Holdings
NewSpring Holdings, LLC, based in Radnor, Penn., focuses on control buyouts and platform builds, targeting profitable, growing companies with between $5 million and $25 million of revenue in business process automation, services, software and niche manufacturing/distribution. NewSpring Holdings seeks to partner with small businesses in transition or who need a financial partner to better assist them in achieving their goals. NewSpring Holdings is part of the NewSpring Capital family of funds, a leading provider of private equity capital focused in the Mid-Atlantic region with over $1 billion of committed capital supporting more than 100 portfolio companies across growth equity, control buyout and mezzanine debt funds. NewSpring Capital combines deep operating knowledge with financial and investing expertise to provide growing companies the financial resources, advice, network of contacts and strategic partnerships necessary to be successful. To learn more about NewSpring Capital, please visitwww.newspringcapital.com.
About X5 Solutions
X5 Solutions is backed by more than two decades of experience in the telecom industry. The company has navigated the changing landscape of providers and communication technologies to deliver diverse solutions to private and public businesses, government agencies and wholesale partners across North America. X5 Solutions’ customer-focused approach and ability to leverage carrier diversity to customize solutions has fueled its success. X5 Solutions offers a complete suite of solutions, including Traditional Voice and Data Services, SIP Trunking, Hosted Voice, Conferencing, Unified Communications and Ethernet.