RCBG Leads Due Diligence on Telx Sale
CHICAGO, IL – RCBG, a strategy and advisory firm specialized in TMT [telecom, media, technology], announced the completion of the acquisition of the Telx Group, a leading provider of colocation and interconnect services, by Abry Partners and Berkshire Partners.
Terms of the transaction were not disclosed.
RCBG provided due diligence services for Highbridge Capital Management LLC, the private equity unit of J.P. Morgan, which provided credit facilities and other transaction services. Data center economics, technologies, and market dynamics have been a focus area for RCBG as business and consumer needs shift to cloud-based resources.
“The cloud is very much a terrestrial operation,” said William Markey, president of RCBG. “Sophisticated storage, computing, and transit assets come together in a physical space, which has its own unique energy, location, and connectivity requirements. Making the complex accessible and quantifiable is an important part of RCBG’s value to equity investors and their partners”, added Markey, “and no more so than in cloud platforms and the Internet of Things”.
Telx originated in Manhattan as a so-called carrier hotel, and rapidly expanded in the Tri-State area and to national points of presence. It had been acquired by GI Partners in 2006.
“This [Abry, Berkshire transaction] gives us significant financial capacity to expand the Telx platform,” said Eric Shepcaro, CEO of Telx, in the company’s press release. “Berkshire and ABRY are committed to work with us on this expansion. For our customers there will be no changes and they will receive the same excellent service they have come to expect.”
Telx’ customers include AT&T, Comcast Business, Google, and Twitter. For information, please see www.telx.com
RCBG provides business strategy and advisory services for companies and investors.
The firm provides advisory services for identifying and executing strategic opportunities, often those created by emerging technologies in TMT [telecom, media, technology]. Our support allows leadership to operate from a highly-informed perspective, alert to what is possible, at risk, and ultimately worth time and capital. Clients include the leading telecom infrastructure providers, service providers, brands and agencies. and strategic investors including corporations, venture capital and private equity.
RCBG is headquartered in Chicago, IL.
For more information, please call +1 312 628 6400 or visit www.rcbg.com
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