Logix Successfully Completes Recapitalization Transactions to Drive Long-Term Growth

Transactions Strengthen Capital Structure by Providing Additional Liquidity and Reducing Debt Balance by Over $150 Million

Industry veteran Greg O'Connor Appointed CEO, brings decades of experience in wireless, fiber networks, business and infrastructure transformation, and high-growth operations

HOUSTON, April 14, 2025 /PRNewswire/ -- Logix Communications, LP, d/b/a Logix Fiber Networks ("Logix" or the "Company"), a leading provider of business connectivity and fiber solutions in Texas, today announced that it has completed a series of recapitalization transactions to bolster liquidity and position the Company for long-term growth. The transactions are led by UBS O'Connor Capital Solutions ("OCS") and supported by the Company's first-lien lenders, including funds managed by Main Street Capital Corporation.

The transactions include a new investment of $45 million from OCS, partial repayment and long-term maturity extension of the existing first lien term loan the exchange of the existing second lien term loan into a combination of a new second lien term loan and new preferred equity and the extinguishment of certain other funded debt instruments, which will result in an aggregate debt reduction of over $150 million. The substantial deleveraging and incremental liquidity provided by OCS will allow the Company to pursue new growth opportunities and expand product offerings to its customers.

Accelerating Innovation and Network Expansion Across Texas

With over 300,000 fiber miles and over 3,000 on-network buildings, Logix already operates one of the largest independent fiber networks in Texas and serves thousands of businesses and carriers with high-performance connectivity, carrier-grade Ethernet, wavelength connectivity up to 400G, dark fiber and dedicated internet access. The additional financing will enable Logix to:

• Expand its high-capacity fiber footprint to meet the growing demand for bandwidth-intensive applications.
• Roll out 800G wave connectivity to provide ultra-fast, scalable networking solutions for businesses and data centers.
• Enhance service capabilities for enterprise and carrier customers with new infrastructure investments in key Texas markets.

In connection with the transaction, Greg O'Connor has been named as the new Chief Executive Officer of Logix. A respected telecommunications leader with more than 25 years of experience across network engineering, wireless and wireline operations, and infrastructure investment - O'Connor brings deep expertise in business and network transformation. Prior to Logix, he held senior roles at T-Mobile, Cogent Communications, and Sprint, including serving as General Manager of T-Mobile's Wireline business and COO at Cogent following its acquisition of T-Mobile Wireline. He successfully led the integration of large-scale network operations and helped drive organizational optimization, new product launches, and revenue acceleration across multiple business units.

"LOGIX FIBER NETWORKS is our 100% fiber telecommunications network that is purpose-built to meet the rising bandwidth demands of enterprise and wholesale customers alike," said Mr. O'Connor. "The Logix team has done the hard work to streamline operations, reduce legacy costs and focus on delivering for our customers. They have positioned us to raise new capital to accelerate growth beyond the 3,000 buildings and more than 80 data centers we connect today in Texas' largest markets."

Commitment to Business Connectivity in Texas

As businesses demand more bandwidth, lower latency, and increased reliability, Logix remains focused on delivering enterprise-grade fiber solutions tailored to their needs. With this new investment, Logix is set to accelerate its network expansion, roll out advanced connectivity solutions, and support the rapidly growing digital economy across Texas.

Houlihan Lokey served as financial advisor and Baker McKenzie and Debevoise & Pimpton served as legal counsel to Logix. Davis Polk & Wardwell and Akin Gump Strauss Hauer & Feld served as legal counsel to the Company's first-lien and second-lien lenders, respectively.

For more information about Logix and its services, visit www.logix.com.

About Logix
Logix Communications, LP, d/b/a Logix Fiber Networks ("Logix") is a leading fiber-based network infrastructure provider in Texas, offering high-performance connectivity products, wavelength services and dark fiber to businesses, carriers, and data center operators. Logix operates more than 300,000 fiber miles, serves over 3,000 on-net buildings, and connects to more than 80 third-party data centers across the state. With a reputation for network reliability, local support, and flexible solutions, Logix is the trusted choice for enterprise-grade connectivity in Texas. For more information about Logix Fiber Networks and its services, visit www.logix.com.

Media Contact:
John Puskar
Foxhound Advisors
[emailprotected]

SOURCE LOGIX Fiber Networks