CHICAGO, IL--(Marketwire - May 17, 2011) -
- Global Capacity completes the sale of its business to a privately-held company with a strong balance sheet and no debt
- With this transaction now complete, Global Capacity has strong financial backing for necessary investments, such as evolving its One Marketplace Access Exchange platform
- Global Capacity has maintained its strong customer and supplier relationships throughout the process
Global Capacity, the world's leading telecommunications information and logistics company, announces it has completed the sale of substantially all of its assets to GC Pivotal, LLC, an affiliate company of the leading investment firm Pivotal Group. With this transaction now complete, the Company moves forward as a privately-held company with a strong balance sheet and no debt. GC Pivotal, LLC will go to market as Global Capacity, offering the same innovative solutions that customers have come to expect.
"Global Capacity now has the financial strength and strategic backing required to invest in and evolve our innovative One Marketplace Access Exchange platform," states Patrick Shutt, CEO of Global Capacity. "We are pleased that Pivotal Group has recognized the unique value offering of this platform, and we look forward to continuing to provide the highest quality solutions and services to our customers and prospects. And notably, we are extremely grateful for the loyalty of our customers and suppliers as we completed this process."
This acquisition transfers Global Capacity's business into a privately-held company with no debt and positive monthly cash flow from operations. The Company has maintained strong customer and supplier relationships throughout its restructuring process, and with the completion of this transaction, Global Capacity has the financial support from Pivotal required to advance the Company's organic growth objectives, while investing in further expansion of its One Marketplace Access Exchange.
"We are extremely pleased to complete our Global Capacity transaction," continues Francis Najafi, CEO of Pivotal Group. "The One Marketplace Access Exchange is a unique platform in a very large, inefficient global fiber market. We believe that this innovative platform is on the verge of exponential growth," he added.
The sale was approved by the count in the Global Capacity bankruptcy case, and the details on the asset transfer may be found there. The court will supervise the post-sale wind-down of the bankruptcy.
For more information on Global Capacity and our service offerings, please visit www.globalcapacity.com
About Global Capacity
Global Capacity is a telecommunications information and logistics company that improves the efficiency and reduces the cost of access networks globally. Through its One Marketplace Access Exchange, the Company brings together customers and suppliers in an automated platform that provides ubiquitous access network solutions. Global Capacity delivers its innovative solutions to purpose-built integrators, telecommunication carriers, and enterprise customers globally. Global Capacity is headquartered in Chicago, IL, with additional offices in Waltham, MA, Glastonbury, CT, Manchester, U.K., and Lisbon, Portugal. For more information, please visit www.globalcapacity.com or contact the Company at 312-673-2400.
About Pivotal Group
Pivotal Group is a leading investment company headquartered in Phoenix, Arizona, with primary concentration on private equity and real estate. Its focus is centered on the implementation of its business strategy in conjunction with a comprehensive understanding of capital market dynamics. For more information, visit www.pivotalgroup.com
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