MIAMI, FL – (NOVEMBER 18, 2010) – Trivest Partners, L.P. today announced the sale of ATX Networks, Inc. (“ATX” or the “Company”) to Pamlico Capital, a leading North Carolina-based private equity firm. ATX is the leading provider of equipment used by nearly all North American and many international cable providers to manipulate radio frequency signals for the distribution of video, Internet applications, and voice services to subscribers.
Trivest acquired ATX, in partnership with management, in August 2008 from the Company’s Founder with funds from Trivest Fund IV, a $325 million private investment fund. During its ownership period, Trivest bolstered the management team, provided management stock ownership, supported the Company’s strategy to expand its product
line and completed an accretive add-on acquisition.
Peter “Chip” Vandenberg, Jr., Trivest Partner said, “ATX was an outstanding investment for Trivest Fund IV investors. We have a great deal of respect for the new owners, Pamlico Capital, and believe they will benefit from ATX’s continued growth in North America and around the globe.”
Jamie Elias, a Partner at Trivest said, “The ATX transaction is consistent with Trivest’s long held investment strategy to invest in founder/family owned companies with market leading positions. The entire ATX management team, led by Ken Wildgoose, deserves a great deal of credit for the Company’s success.”
Ken Wildgoose, ATX’s Chief Executive Officer stated, “Partnering with Trivest in August 2008 proved to be a very gratifying experience. Trivest provided the necessary support in the areas of financial planning, lender negotiations, strategy, recruiting and acquisitions, yet allowed our management team the autonomy to operate our business. On behalf of the ATX management, we thank Trivest for their conviction in us.”
ATX Networks was advised by Oppenheimer & Co. (financial advisor) and Blake, Cassels & Graydon LLP (legal advisor).
ATX Networks is a leading designer and manufacturer of equipment for cable operators. ATX designs and manufactures a diversified suite of products used to fulfill the everyday requirements of the world’s largest cable companies for their network operations, maintenance, and expansion needs. ATX focuses its product offerings in the cable headend, but its product portfolio includes equipment found across the entire cable network architecture. For additional information, please visit www.atxnetworks.com.
Trivest Partners is a private investment firm that focuses on partnering with founder/family owned businesses in the United States and Canada. Since its founding in 1981, Trivest has completed more than 150 transactions, totaling more than $4.5 billion in value. For additional information, please visit www.trivest.com.