Everstream Bets Big on Michigan
Cleveland, Ohio, July 6, 2016 – Everstream announced today plans for Michigan after the closing of its acquisition of GLC/Comlink. The combined company creates a new regional fiber network provider serving Ohio, Michigan, Indiana, Illinois and Wisconsin. The acquisition brings Everstream fiber assets totaling 9,500 route miles, servicing over 1,000 on-net buildings, connecting enterprise businesses to 27 data centers while being supported by 100 employees.
The company will operate under the Everstream name while maintaining a regional office in East Lansing, Michigan where Pat O’Leary will provide key leadership as Executive VP and General Manager. Everstream will be able to provide enterprise businesses, carriers, partners and wireless carriers with connectivity from Cleveland through Detroit, Ann Arbor, Lansing, Grand Rapids, Chicago and Milwaukee down through South Bend on its way to Columbus and ending back in Cleveland.
“Everstream has positioned itself for continued growth as we look at additional opportunities to increase our footprint in the region,” said Brett Lindsey, Everstream President & Chief Executive Officer. “We have approved our hiring and investment plans for the Michigan network.” The Michigan team will expand by 10 over the next several months as the technical, operations and sales groups grow to support the existing and new customers.
To complete the transaction with GLC, Everstream closed on a $70 million financing package from its existing equity investors and senior debt lead by Webster Bank’s TMT practice. As part of the expansion plans for the Michigan network, Everstream will invest between $10 and $15 million in last mile construction and network equipment upgrades.
Everstream is a regional-based network service provider bringing fiber-based Ethernet, Internet and data center solutions to businesses throughout the Midwest. We focus on delivering best-in-class network solutions while providing an unrivaled commitment to customer service. With over 9,500 miles of fiber across 5 states and comprehensive data center connectivity at 10 Gigabit speed, we provide the fastest network in the region. Everstream’s network allows businesses to operate a converged IP network capable of delivering robust voice, video, and data services at speeds from 10 mbps to 10 gbps.