Logix Completes Recapitalization to Fuel Growth
Deal News | Apr 14, 2025 | Astra Capital Management
Logix Communications, a leading fiber network provider in Texas, announced the completion of significant recapitalization transactions aimed at enhancing liquidity and setting the stage for long-term growth. The recapitalization, supported by UBS O'Connor Capital Solutions and first-lien lenders like Main Street Capital Corporation, includes a $45 million investment from O'Connor, partial repayment and maturity extension of existing loans, and an overall debt reduction surpassing $150 million. This financial restructuring provides Logix with the resources to expand its extensive fiber network in Texas, enhance service capabilities, and introduce new high-speed connectivity solutions. Greg O'Connor, a seasoned telecommunications professional, has been appointed as CEO to lead the company's network expansion and infrastructure improvements. Legal advisors for the transaction included Houlihan Lokey for Logix, while Houlihan Lokey and Baker McKenzie acted as legal counsel to the lenders.
Sectors
- Telecommunications
- Finance
- Private Equity
Geography
- United States – The activities covered in the article are based in the US, specifically centered around Logix's operations and network expansions throughout Texas.
- Texas – The geographical focus of Logix's operations, network expansions, and strategic developments, is concentrated in Texas, making it a key area of discussion in the article.
Industry
- Telecommunications – The article discusses Logix, a key player in fiber network services in Texas, and its plans for expansion and innovation in telecommunications solutions.
- Finance – The recapitalization and financial restructuring of Logix involves significant financial maneuvers typical of finance sectors, impacting debt structures and equity considerations.
- Private Equity – The involvement of Astra Capital Management and UBS O'Connor indicates an underlying private equity dynamic, evidenced by strategic financial support and restructuring efforts.
Financials
- 45 million USD – New investment from UBS O'Connor to support Logix's growth initiatives.
- 150 million USD – Aggregate debt reduction achieved through the recapitalization transactions.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Logix Communications, LP | Target Company | Company | A leading fiber-based network infrastructure provider in Texas. |
| UBS O'Connor Capital Solutions | Investor/Financial Backer | Company | The firm providing financial backing through a $45 million investment in Logix. |
| Main Street Capital Corporation | Lender | Company | A first-lien lender involved in the transaction supporting Logix's recapitalization. |
| Greg O'Connor | Chief Executive Officer | Person | Newly appointed CEO of Logix, bringing extensive experience in telecommunications. |
| Houlihan Lokey | Financial Advisor | Company | Served as financial advisor to Logix. |
| Baker McKenzie | Legal Counsel | Company | Provided legal counsel to Logix for the transaction. |
| Debevoise & Pimpton | Legal Counsel | Company | Provided legal counsel to Logix for the transaction. |
| Davis Polk & Wardwell | Legal Counsel | Company | Provided legal counsel to Logix's first-lien lenders. |
| Akin Gump Strauss Hauer & Feld | Legal Counsel | Company | Served as legal counsel to Logix's second-lien lenders. |