Pamlico Capital (“Pamlico”) today announced the sale of ATX Networks Holdings, LLC (“ATX” or the “Company”) to an affiliate of H.I.G. Capital (“H.I.G.”), a Miami-based private equity firm. Founded in 1990 and headquartered in Ajax, Ontario, ATX is a market leading designer and developer of patented radio frequency (“RF”) and digital video processing equipment used by cable and private network operators, A/V integrators, and telecommunications companies worldwide.
Pamlico acquired ATX, in partnership with management, in November 2010, and has supported the Company over the past five years as it enhanced its leadership position in the RF management equipment market, developed new digital video products, completed strategic acquisitions and demonstrated impressive organic revenue growth. During its ownership period, Pamlico also assisted ATX in completing two acquisitions that broadened the Company’s product set and increased its in-house engineering and product development capabilities. Today, ATX has a dominant market share in the North American RF equipment market and serves every major cable operator in North America, with a growing customer base of international cable operators, telecommunications companies, and private network operators.
“Pamlico was an excellent partner that helped us to achieve our strategic growth initiatives and to continue to develop innovative products for our loyal customer base,” said Ken Wildgoose, ATX’s Chief Executive Officer. “We have truly enjoyed our partnership with Pamlico and look forward to further executing on our growth plan with H.I.G.”
“We enjoyed working with Ken Wildgoose and his team over the past five years as they have significantly enhanced ATX’s ability to develop new products, positioning the company for continued growth both organically and through strategic acquisitions. We appreciate all of their efforts on behalf of Pamlico and our investors and wish them continued success with H.I.G.” said Stuart Christhilf, a Partner at Pamlico.
ATX and Pamlico were advised by Jefferies LLC (financial advisor) and Alston & Bird (legal advisor).
Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in the U.S. Pamlico Capital seeks control-oriented growth equity and buyout investments of up to $100 million alongside proven management teams in its target industries: Business & Technology Services, Communications, and Healthcare. Since inception, the firm, based in Charlotte, NC, has invested over $2.5 billion. For additional information, please visit www.pamlicocapital.com.