Everstream to Acquire Lynx Network Group, Increase Network in Michigan
CLEVELAND – December 2, 2016 – Everstream, a superregional fiber-based network service provider, announced today a definitive agreement to acquire Lynx Network Group, a Kalamazoo, Michigan-based provider of bandwidth infrastructure services—marking the second acquisition for Everstream in 2016.
“Lynx is a strategic acquisition for Everstream that furthers our commitment to expansion in Michigan,” said Brett Lindsey, president and chief executive officer, Everstream. “This transaction increases the density of our existing fiber routes and adds a host of new customers to our network while continuing to expand our footprint in the region.”
Situated in the heart of Everstream’s existing Michigan footprint, the Lynx acquisition allows Everstream the opportunity to provide connectivity to a host of new enterprise businesses, carriers, partners and wireless carriers.
“Everstream is investing heavily in Michigan, which provides comfort to our customers that they will continue to receive the quality service and attention they have come to expect from Lynx. Our team is excited about what the combined organization can bring to the region and, more importantly, what it will do to expand the services we provide to our customers,” said Gerald Philipp, principal, Lynx Network Group.
Everstream’s expanded five-state service area reaches from Cleveland north to Detroit, Lansing and Grand Rapids, Michigan, west to Milwaukee, Wisconsin, south to Chicago, South Bend, Indiana, and Columbus, Ohio, before ending back in Cleveland.
When the transaction closes, the company will service more than 1,000 on-net buildings, connect enterprise businesses to 27 data centers, and provide 24/7 customer support from operations centers in Michigan and Ohio.
The transaction is expected to close in January 2017, following the satisfaction of customary regulatory approvals, and will be funded from cash on hand and additional debt arranged through Webster Bank.
Cowen and Company, LLC served as the exclusive financial advisor to Lynx Network Group in connection with this transaction.
Founded in 2014, Everstream is a superregional 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 more than 9,500 miles of fiber across five states and comprehensive data center connectivity at 100 Gigabit speed, we provide the fastest network in our service areas. 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 100 gbps. For more information, visit everstream.net.