AUSTIN, Texas (Nov. 11, 2013) — One Source Networks (OSN), the cloud and managed services partner of choice for large enterprises, announced today the completion of a significant minority investment transaction with ABRY Partners.
The investment, which closed on November 1, will provide working capital as well as funds for continued business expansion, including new global points of presence that OSN is currently deploying to grow reach and ensure seamless delivery of services such as unified communications (UC).
“We see the timing of this partnership as tremendously beneficial for both One Source Networks and ABRY Partners,” stated Ernest Cunningham, chief executive officer, One Source Networks. “Our company has experienced tremendous growth over the past several years — from a financial, talent, product and infrastructure perspective. Working with ABRY will help us to expand our capabilities and service offerings at an accelerated pace so that we can continue to deliver the innovative services and expertise that our global enterprise customers demand.”
“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.”
One Source Networks’ growth has placed it on Inc. magazine’s list of the 5,000 fastest-growing private companies for the third straight year, with 376% revenue growth from 2009 to 2012. The company also acquired cloud-managed solutions provider OuterNet in January 2013, enabling it to grow its managed services portfolio, data center footprint and in-house technical expertise.
“ABRY Partners is very pleased to be working with One Source Networks,” commented 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.”
Q Advisors LLC, a Denver and San Francisco-based telecom and technology investment bank, acted as exclusive financial advisor and placement agent to One Source Networks in connection with the transaction.
ABRY is one of the most experienced and successful media, communications, and business information services sector-focused private equity investment firms in North America. Since its founding, ABRY has completed more than $36 billion of leveraged transactions and other private equity, mezzanine or preferred equity placements, representing investments in over 450 properties.