MetroNet and Vexus Announce Merger to Accelerate Industry-Leading FTTH Expansion
Combined Companies Currently Serve 15 States, More than 150 Communities
MetroNet, the nation’s largest independently owned, 100 percent fiber optic network provider, today announced a merger with Lubbock, Texas-based Vexus Fiber. Vexus builds and operates fiber optic networks that connect directly to homes and businesses in Texas, New Mexico, and Louisiana. The combined companies will continue to operate under their current brands with their current leadership teams. Terms of the merger were not disclosed.
“We’re very excited to welcome Vexus Fiber and their associates to MetroNet,” said John Cinelli, Chief Executive Officer of MetroNet. “Vexus has a fast growth and high customer service mentality, very similar to MetroNet, and joining with them allows us to quickly expand our service area to even more Americans.”
“Our mission at Vexus is to bring our high-quality service to as many homes and businesses in the Southwest as possible,” said Jim Gleason, President and Chief Executive Officer of Vexus. “With this merger, we can reach even more people faster.”
Vexus Fiber currently operates fiber-to-the-home networks in Lubbock, Amarillo, Wichita Falls, Abilene, and surrounding areas in Texas, as well as Hammond, Covington and Mandeville in Louisiana. The company is also building new networks in the Rio Grande Valley, Tyler, Nacogdoches, and San Angelo, Texas and expanding in Lake Charles, Louisiana as well as Albuquerque and Santa Fe, New Mexico.
Both MetroNet and Vexus build and operate fiber optic networks with symmetrical speeds of 1 gigabit or higher connected directly to homes and businesses. The networks are future proof and can scale to higher speeds. Both companies are dedicated to connecting America’s underserved cities and towns and bringing state-of-the-art fiber optic connections for workers, businesses, schools, hospitals, government facilities and homes.
Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: communications, healthcare, services and software. The firm, based in Charlotte, NC, has assets under management of approximately $4 billion. For additional information, please visit www.pamlicocapital.com.