- people on the move
Telecom company sells operation
A telecom company in the region and its statewide network have been acquired.
Cleveland-based Everstream, a fiber-based network provider with a Grand Rapids office, said this week it has completed its acquisition of Kalamazoo-based Lynx Network Group.
Terms of the deal were not disclosed.
Lynx provided bandwidth infrastructure services across Michigan over its more than 2,000-mile fiber network.
The move was announced in December and increases Everstream’s density of fiber routes in Michigan.
The deal was financed with cash on hand and debt through Webster Bank.
Cowen and Company advised Lynx Network Group.
“In the last year, Everstream has grown our customer base and human capital, solidified multi-million-dollar investments and now acquired two companies that have extended and further strengthened our network,” said Brett Lindsey, president and CEO, Everstream. “We are excited to continue to grow strategically and deliver for the markets we serve.”
Last year, Everstream closed an acquisition of East Lansing-based GLC/Comlink for $70 million.
Founded in 2014, Everstream’s range of service includes Michigan, Wisconsin, Illinois, Indiana and Ohio, with a network that services more than 1,700 buildings through more than 9,500 miles of fiber.