NewSpring to Acquire X5 Solutions
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NewSpring to Acquire X5 Solutions

x5 nf1NewSpring Holdings has signed an agreement to purchase X5 Solutions, a provider of voice and data communication services. The transaction is pending regulatory approval and is targeted to close in March.

X5 Solutions is a provider of telecommunication services including traditional voice and data, SIP trunking, hosted voice, conferencing, and Ethernet. Customers include private and public businesses, government agencies and wholesale partners across North America.  X5 is headquartered in Seattle (www.x5solutions.com).

NewSpring has partnered with a new senior executive team to acquire X5.  Greg Forrest and Rick Hirsh will join the company and have decades of executive-level experience serving as founders and CEOs of several large, successful B2B technology service providers and technology integrators.

This acquisition is part of a long-term growth strategy by NewSpring to provide X5 customers broader and more extensive coverage. There will be significant investment made by X5 to expand its network infrastructure, operational capacity and work force.

NewSpring Holdings focuses on control buyouts and platform builds, targeting companies with between $5 million and $25 million of revenue.  Sectors of interest include business process automation, services, software and niche manufacturing/distribution.  NewSpring Holdings is part of the NewSpring Capital family of funds, a provider of private equity capital focused in the Mid-Atlantic region with over $1 billion of committed capital. The firm has offices in Radnor, PA; Short Hills, NJ; and Washington, DC (www.newspringcapital.com). 

© 2015 PEPD • Private Equity’s Leading News Magazine • 2-20-15

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