ABRY Partners, LLC and Berkshire Partners LLC, two Boston-based investment firms, have announced the successful closing of their previously announced acquisition of The Telx Group, Inc. (“Telx”), one of the fastest-growing providers of global interconnection and colocation services. Terms of the transaction were not disclosed.
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. Since its founding in 2000, Telx has grown its footprint to meet its clients’ increased demand for access to an ecosystem of telecommunications carriers, ISPs and content providers.
“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.”
“As network usage for business communications continues to grow, service providers will need solutions that store and facilitate the increasing quantities of video, voice and data,” said C.J. Brucato, Partner at ABRY. “This large volume of traffic creates significant growth opportunities for Telx and we are excited to partner with Eric and the Telx management team for this next chapter.”
“Telx is considered the leading provider of interconnection and data center solutions in the United States,” said Larry Hamelsky, Managing Director of Berkshire Partners. “In addition to the valuable relationships Telx has built with its clients, a key reason for the company’s success is its commitment to providing cost-effective, reliable and secure solutions and services. We believe Telx is well positioned to continue delivering quality service and innovative products to its clients.”
ABRY and Berkshire announced on August 8, 2011 that they had signed a definitive agreement to acquire Telx.