One Source Networks, a provider of IT and communication services to large enterprises, has received a minority investment from ABRY Partners. The investment, which closed on November 1, will provide working capital as well as funds for the company’s continued business expansion.
One Source Networks is a provider of communications services to Fortune 1000 companies. Services include cloud-based voice, video, security and computing applications, as well as enterprise networking and infrastructure services. One Source Networks is a three-time winner of the Inc. 500|5000 award that highlights America’s fastest-growing private companies. The company was founded in 2006 and is based in Austin, TX (www.onesourcenetworks.com).
“ABRY Partners is very pleased to be working with One Source Networks,” said Nicolas Massard, Principal, ABRY Partners. “We believe that the company occupies a unique niche in the industry due to its expertise and deep understanding of the evolving communications needs of enterprise customers. We look forward to being a part of the company as it continues its rapid expansion and innovation, particularly in the areas of managed services and unified communications.”
ABRY Partners invests in the media, communications and information sectors. ABRY is currently investing ABRY Partners VII (a $1.6 billion private equity fund), ABRY Senior Equity III (a $750 million senior equity/mezzanine fund) and ABRY Advanced Securities Fund II (a $1.2 billion senior debt fund). The firm is headquartered in Boston (www.abry.com).
“This transaction represents a significant milestone for One Source Networks in terms of the size of investment, as well as the scope of partnership,” said Jim Tipton, chief financial officer, One Source Networks. “ABRY’s expertise in the communications sector was a key decision factor for OSN and we are confident that it will further enable our success.”
Q Advisors (www.qllc.com), a Denver and San Francisco telecom and technology investment bank, acted as exclusive financial advisor and placement agent to One Source Networks in connection with the transaction.
© 2013 PEPD • Private Equity’s Leading News Magazine • 11-12-13