Logix to expand with $100m investment from Astra and O’Connor
Texas carrier Logix Fiber Networks plans to speed up network build following private equity investment of US$100 million.
The company said it will fund key customer-driven growth initiatives, support an accelerated network evolution plan and refinance a portion of its senior debt with the money, from Astra Capital Management and UBS O’Connor’s O’Connor Capital Solutions.
Logix CEO Craig Collins (pictured) said: “This is a critical step in aggressively building upon Logix’s reputation as the premier business fibre provider in Texas and this commitment will help us to continue growing our enterprise and carrier fibre network, expand into new markets, serve more customers, and create value for all stakeholders.”
Collins joined Logix as CEO in 2020, having previously worked at 5G company Transit Wireless, and earlier Intermedia Communications, XO Communications and Time Warner Cable.
Logix has over 7,000 route miles with nearly 300,000 fibre miles (480,000km) connecting Dallas-Fort Worth, Austin, San Antonio and Houston in Texas, connecting nearly 100 data centres.
Astra managing partner Mark Johnson said: “We believe the Texas market is poised for explosive growth in broadband and are excited to help Logix and its partners provide these essential services.”
Greg Najarian, executive director at O’Connor Capital Solutions, said “the [Logix] platform is pursuing several exciting growth opportunities across its customer segments”.