ABRY, Berkshire Complete Acquisition of Telx
September 27th, 2011 By: Colleen Miller
The Telx Group, which provides global interconnection and colocation services, has been officially acquired by ABRY Partners and Berkshire Partners, two Boston-based investment firms, the companies announced.
The parties did not disclose the terms of the transaction. ABRY and Berkshire announced on August 8, 2011 that they had signed a definitive agreement to acquire Telx.
Telx, headquartered in New York City, operates a national portfolio of interconnection and colocation facilities in the most strategic data markets in the United States. Founded in 2000, Telx grew its footprint to meet client demand and created an ecosystem of telecommunications carriers, ISPs and content providers.
The connectivity provider decided against an IPO. It had filed papers with the SEC last year for an initial public offering, in which it had hoped to raise up to $100 million in capital to fund its growth. See the Data Center Knowledge story, Telx Acquired by ABRY, Berkshire Partners. Instead, Telx moved forward with aquirers ABRY and Berkshire.
“Berkshire and ABRY’s deep knowledge of the communications industry and long history of successfully partnering with management teams make them ideal partners,” said Eric Shepcaro, Chief Executive Officer of Telx. “The combination of experience and capital creates exciting opportunities for Telx as we remain focused on building the company organically and developing innovative interconnection products and data center services for our clients.”