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CXtec, an H.I.G. Capital Portfolio Company, Completes the Acquisition of Atlantix Global Systems
MIAMI – August 24, 2017 – H.I.G. Capital ("H.I.G."), a leading global private equity investment firm with $22 billion of equity capital under management, is pleased to announce that its portfolio company, CXtec, a leading provider of refurbished networking, communications and data center cabling products, has acquired Atlantix Global Systems (“Atlantix” or the “Company”).
Founded in 1977 and headquartered in Atlanta, GA, Atlantix refurbishes and remarkets enterprise-class data center hardware and is a leading provider of IT Asset Disposition (“ITAD”) and associated lifecycle management support services. The Company specializes in sourcing, testing, refurbishing and remarketing server/storage, networking and other data center components. Atlantix’s product portfolio consists of a broad offering of leading OEM brands which enable IT procurement professionals to purchase reliable secondary enterprise-class IT equipment at significant savings and with shorter lead times. The Company’s ITAD services reduce data security risk and maximize return on equipment for leading hyperscale and enterprise-class data center clients through the secure removal, sanitization, testing and remarketing of high value equipment.
Richard Stokes, Managing Director at H.I.G. Capital, commented, “The Atlantix acquisition transforms CXtec into a one-stop shop for secondary enterprise-class data center hardware and support services by combining Atlantix’s leadership in server/storage equipment with CXtec’s networking hardware expertise. The acquisition creates an industry leader with extensive sourcing, refurbishment, distribution and maintenance services capabilities. We are excited to support the team as they continue to execute on organic and M&A growth initiatives.”
“Atlantix represents a highly strategic and complementary investment, allowing us to continue to enhance our expertise in refurbished data center hardware and maintenance support services,” said Pete Belyea, Chief Executive Officer of CXtec. “We are very impressed with Atlantix’s leadership, blue-chip customer relationships and dedicated employees.”
Brian Glahn, President of Atlantix commented, “We are very excited to start a new chapter in joining the CXtec team. CXtec’s distribution platform will allow us to enhance our value-added solutions and forge stronger relationships with customers by offering a more comprehensive suite of data center hardware and services.”
Since its inception in 1978, CXtec has delivered value and support in current and legacy networking, voice and cable infrastructure, including its own brand of equal2new® certified pre-owned equipment. The company’s CABLExpress® division manufactures data center cabling products, including the Skinny-Trunk® Solution. CXtec has been ranked on the CRN Solution Provider 500 list of North America’s Top Technology Integrators for 16 consecutive years. CXtec’s headquarters and its Technology Certification and Distribution Center are located in Syracuse, NY. For more information, visit www.cxtec.com.
About Atlantix Global Systems
For more than 40 years, Atlantix has served its customers as one of the largest resellers of enterprise-class, secondary market equipment in the world. Atlantix provides its customers with reliable IT expertise and 24-hour coverage through maintenance and support service offerings. Atlantix has achieved certifications for ISO 14001:2004 and ISO 9001:2008 for asset recovery, OHSAS 18001:2007 for safety and R2:2013 for its electronics recycling. For more information, please visit www.atlantixglobal.com.
About H.I.G. Capital
H.I.G. is a leading global private equity investment firm with $22 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Mexico City and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.'s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.'s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.