NewSpring Capital’s NewSpring Holdings, the firm’s dedicated control buyout strategy, is to purchase X5 Solutions, a provider of a complete suite of telecommunications solutions.
The transaction is pending regulatory approval and targeted to close in March, 2015.
NewSpring has partnered with a new senior executive team with experience leading and growing companies in the telecommunications industry to acquire X5 Solutions. Greg Forrest and Rick Hirsh bring decades of executive-level experience serving as founders and CEOs of several large, successful B2B technology service providers and technology integrators.
The acquisition is part of a long-term growth strategy by NewSpring to help provide X5 customers broader, more extensive coverage with consistent world-class service levels. As part of the transaction, there will be significant investment to enable X5 to expand its network infrastructure, operational capacity and work force.
X5 Solutions offers a complete suite of custom telecommunications solutions, from Traditional Voice and Data Services to SIP Trunking, Hosted Voice, Conferencing, Unified Communications and Ethernet. From the company’s roots in the Pacific Northwest to its current status as an international provider of telecom solutions, X5 consistently has focused first on customer service.
