Pamlico Capital Invests in TekLinks
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Pamlico Capital Invests in TekLinks

TekLinks, a provider of managed and hosted IT services, has announced that Pamlico Capital has acquired a majority interest in the company from Symmetric Capital and certain other shareholders. In conjunction with the transaction TekLinks announced that Jim Akerhielm, an executive with over 20 years of experience in the communications and technology services industry, will become CEO of the company.

TekLinks is a provider of managed and hosted IT services to businesses throughout Alabama, Mississippi, Tennessee, and the Gulf South. Company provided services range from desktop support to telecom services to complete cloud-based virtual computing. The company was founded in 2001 by Stuart Raburn and is headquartered in Birmingham, AL (www.teklinks.com).

Mr. Akerhielm was previously CEO of NuVox Communications (a broadband and IT services provider) from 2001 to 2010, when the company was acquired by Windstream for approximately $650 million, and served as the CEO of Triton Cellular (a rural wireless services provider) prior to that.

“TekLinks is a clear IT solutions leader in the Greater Gulf states region with unparalleled technical expertise. I believe TekLinks is ideally poised to benefit from the explosive growth in demand for managed and cloud services. We will look to leverage the company’s leading position and technical capabilities to drive continued regional expansion; at the same time, we will also move to execute targeted acquisitions that will help create one of the foremost managed services businesses in the IT industry,” said Mr. Akerhielm.

Stuart Raburn, TekLinks’ founder and President, will become a member of the Board of Directors, retain an ownership position in TekLinks, and focus on strategic initiatives going forward. “With their successful history investing in the technology services industry, Jim Akerhielm and Pamlico are the ideal partners to lead TekLinks through the next phase of its development, and I am thrilled to be working with them,” said Mr. Raburn.

Pamlico Capital, formerly known as Wachovia Capital Partners, was founded in 1988 and has invested in excess of $3.5 billion in over 200 middle market companies since its inception. Pamlico Capital seeks growth equity and buyout investments of up to $75 million alongside management teams in its target industries, which include business & technology services, communications, and healthcare. The firm currently manages over $2 billion in assets and is based in Charlotte, NC (www.pamlicocapital.com).

“We are excited about the opportunity to partner with Stuart Raburn and the team at TekLinks, and to work again with Jim Akerhielm, whom we have known for over 15 years and backed successfully as CEO of two Pamlico portfolio companies, NuVox Communications and Triton Cellular,” said Pamlico Partner Walker Simmons.

TekLinks and Symmetric Capital were advised by Signal Hill Capital Group (financial advisor) and Choate, Hall & Stewart LLP (legal advisor). Pamlico was advised by Alston & Bird LLP (legal advisor), Ernst & Young (accounting and tax advisor), and Willis Group (insurance and benefits advisor).

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