Oxford Networks, a portfolio company of Canadian private equity firm Novacap, has agreed to merge with BayRing Communications. The financial terms of the deal were not disclosed. Oxford said the combined entity will be the largest competitive telecommunications provider headquartered in Northern New England. The merger will also enable both businesses to leverage their strengths to expand services to existing client bases and continue growth in New England and beyond. Based in Lewiston, Maine, Oxford, is a provider of end-to-end technology solutions. As reported by PE Hub Canada, the technology group of Novacap acquired a majority interest in the company in 2014.
Oxford Networks and BayRing Communications Announce Strategic Growth Plan
Oxford Networks and BayRing Communications to Merge
PORTSMOUTH, N.H. and LEWISTON, Maine, June 4, 2015 /PRNewswire/ — Oxford Networks and BayRing Communications announced today that the two companies have agreed to merge. The combined entity will be the largest competitive telecommunications provider headquartered in Northern New England. The new organization will operate approximately 2,000 route miles of high-capacity fiber optic network providing access to nearly 50,000 commercial buildings, four robust SOC 2 (Service Organization Control) data centers, and direct access to all other major hub data centers throughout Maine, New Hampshire and Massachusetts. The merger provides an outstanding strategic fit as Oxford has a solid footprint in Maine, while BayRing has a strong market presence in Southern Maine, New Hampshire and Massachusetts.
According to Oxford Networks’ President and CEO Craig Gunderson, the combination of Oxford Networks and BayRing will enable both companies to leverage their strengths, including existing fiber optic networks, data centers and a robust platform of telecom products to expand services to their existing client base and continue growth throughout New England and beyond.
“Over the past 15 years, Oxford Networks and BayRing have followed similar strategies; building world class fiber optic networks, making investments in cutting edge data center and telecom technologies and providing a superior customer experience. This strategic partnership will allow the companies to leverage a significantly larger fiber network and data center infrastructure,” said Gunderson. “Customers will see a rapid expansion and evolution of products and services.”
BayRing Communications’ President Ben Thayer stated, “BayRing’s singular focus has always been to provide our clients with the most advanced telecom and data services coupled with the highest level of support. This merger allows BayRing and Oxford Networks to expand on this successful model and the combined organization to exceed the evolving technology needs of our customers.”
Ted Mocarski, Novacap partner and Chairman of Oxford Networks’ Board, commented, “We are pleased to have reached an agreement between Oxford Networks and BayRing Communications. We are impressed with the leadership, technology assets, and culture of both companies. Each organization has enjoyed significant success by focusing on local, high touch customer service.” According to Mocarski, the merger is part of Novacap’s continuing long-term strategic plan to offer world-class technology services to businesses in New England and beyond. The transaction is subject to necessary regulatory approval, including approval by the Federal Communications Commission.
BayRing was the first competitive local exchange carrier authorized in New Hampshire and Maine and has been a premier provider of telecom and data center services in New England for over 17 years. Headquartered in Portsmouth, New Hampshire, BayRing owns a proprietary high capacity fiber network that envelops southern New Hampshire and extends from Portland into metro Boston. Additionally, BayRing operates two data centers in Portsmouth, New Hampshire. BayRing’s experience, combined with its extensive network and data center assets, enable BayRing to provide mission critical phone, internet and data center services. For more information, visit www.bayring.com.
Oxford Networks is an award-winning technology solutions provider based in Lewiston, Maine. With a fiber optic network backbone spanning from Bangor to Boston, and high-security data centers located in Brunswick and Bangor, Maine, Oxford Networks provides end-to-end technology solutions for companies in New England and beyond.
The combined companies’ services and products include: Data Center Services, Managed IT Services, Voice, Internet, and Carrier Services. For more information, visit www.oxfordnetworks.com.
Novacap is one of Canada’s leading private equity firms. Since 1981, Novacap’s distinct partnership approach, based on leveraging its operational expertise, has helped its portfolio companies accelerate their growth and maximize their value. Novacap typically works closely with management to build on core strengths, explore industry consolidation, and further develop the portfolio company’s technology, operations, and market with an eye on generating superior rates of return. Novacap ranks among the top private equity firms in North America. For more information, visit www.novacap.ca.
Media Venture Partners (MVP) served as the exclusive financial advisor to BayRing in this transaction. MVP is an investment banking firm serving companies in the communications, technology, media and renewable energy sectors with a comprehensive array of services, including merger and acquisition advisory, debt and equity financing, and restructuring advisory.
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