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HIG Capital has acquired the assets of
Xtera Communications, a provider of
bespoke subsea fiber optic solutions,
having previously provided debtor-in-
possession financing to the Xtera debtors
in connection with the chapter 11 case.
Based in the UK and the US, Xtera supplies
un-repeatered and repeatered subsea
systems, using high performance optical
amplifiers to carry data. Under HIG’s
ownership, Xtera’s management and
technical team will remain in place,
focusing on existing customer contracts
and expanding the business.
Carl Harring, managing director at HIG,
said: “We believe Xtera has considerable
growth potential as an independent, well-
funded business with a new ownership
structure. Its world class IP protected
technology is not only differentiated and
superior to that of its competitors, but it is
delivered to an impressive range of global
clients at a cost-effective price point.
“We are excited to be working with this
industry-leading team, and our immediate
focus will be to work with them to deliver
and build on existing contracts and,
over the long-term, provide the financial
support to enable the company to fully
capitalize on its technology with a broader
base of customers.”
Stuart Barnes, founder of Xtera, added:
“We are delighted to announce our
new partnership with HIG Capital, which
has previously invested in the fiber optics
sector and has a proven understanding of
how to grow specialist industrial suppliers
into market-leading players. We share
the same vision of strengthening Xtera’s
footprint in the future.”
Subsea fiber company gets
a lifeline
wiredInUSA - March 2017
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