Olympus Strikes Deal for Majority Stake in Network Connex

Olympus Partners has agreed to acquire a majority ownership stake in NTI Connect (DBA Network Connex) from ORIX Capital Partners.

Network Connex provides fiber installation, splicing, testing, validation, and maintenance services to North America-based hyperscalers, cloud operators, and large enterprises. Its services support increased data usage and computing requirements driven by the buildout of artificial intelligence infrastructure and next-generation data centers.

ORIX acquired NTI Connect in 2018 from O2 Investment Partners. At that time, the platform consisted of three operating companies: National Technologies, CCSI Networks, and Fairhaven Integration Services. During its ownership term, ORIX completed several add‑on acquisitions, including Verticom, which added turnkey wireless and small‑cell deployment capabilities in December 2019; Precision Design Services, which strengthened fiber network engineering in the New York metropolitan area in June 2020; and Advantage Engineers, a national engineering and design firm acquired in April 2021 that further scaled the company’s service offering.

Network Connex, led by CEO Christopher Larocca, is headquartered near Chicago in Downers Grove, Illinois.

“This partnership with Olympus marks an exciting new chapter for Network Connex. Olympus brings significant experience investing in and scaling infrastructure businesses,” said Mr. Larocca. “We believe their strategic support will accelerate our growth, expand our capabilities, and further strengthen our position as a leading provider of mission-critical services to the data center ecosystem. We are proud of the national platform we have built and the long-standing relationships we have with our customers, and we look forward to building on that foundation together.”

“Network Connex has established itself as a trusted partner to hyperscalers and data center operators, delivering a unique combination of scale, speed, and quality nationwide,” said Matt Boyd, a partner at Olympus.

Founded in 1988, Stamford, Connecticut-based Olympus Partners invests in a range of industries, with a specific interest in business services, consumer products, healthcare services, financial services, industrial services, and manufacturing.

“We are thrilled to partner with the entire Network Connex team to support their continued growth and expansion. Network Connex’s expertise in fiber installation and digital infrastructure is unparalleled, and we believe they are uniquely positioned to capitalize on the explosive growth in the AI and data center markets,” added Matt Bujor, a principal at Olympus.

“Partnering with the Network Connex team during such a dynamic period of growth and operational advancement has been a privilege,” said Matt Scullion, managing director at ORIX USA. “The sale of Network Connex marks a significant achievement for the ORIX Capital Partners portfolio, reflecting an outcome aligned with the interests of the business and our investors. We are excited about the future for the business with Olympus Partners.”

New York-based ORIX Capital Partners invests from $75 million to $250 million of equity per transaction in North America-based middle-market companies active in the business services, infrastructure services, and industrials sectors. The firm is a business unit of ORIX Corporation USA, a Dallas-based financial services firm. Its parent company, ORIX Corporation, is a Tokyo-based, publicly owned financial services company with operations in 38 countries and regions worldwide.

KPMG was the financial advisor to Olympus, while Lazard Frères was the financial advisor to ORIX Capital and Network Connex.