7/1/2023 0 Comments Unite private networks and coxCox Communications is the largest division of Cox Enterprises, a family-owned business founded in 1898 by Governor James M. We’re dedicated to empowering others to build a better future and celebrate diverse products, people, suppliers, communities and the characteristics that make each one unique. The largest private broadband company in America, we proudly serve nearly seven million homes and businesses across 18 states. UPN was represented by Morgan, Lewis & Bockius LLP and Dentons US LLP. Bank Street Group LLC acted as exclusive financial advisor to Ridgemont and Alston & Bird acted as legal counsel.Ĭox Communications is committed to creating meaningful moments of human connection through technology. Evercore acted as exclusive financial advisor to Cox Communications in this transaction and Eversheds Sutherland acted as legal counsel. The transaction is subject to customary regulatory approvals and closing conditions. Cox became the majority owner of UPN in 2016. Acquiring the remaining interest in UPN supports that ongoing focus. In the last few years, Cox has invested in business services companies including Segra and managed cloud services provider Logicworks. Segra CEO Kevin Hart will lead the new company as CEO, and Jason Adkins, UPN CEO, will report to Kevin as president of the new company. “We also benefited from the strong strategic partnership with Cox Communications in 2016 to extend and enhance our original investment and create the market leader UPN is today.” “Unite Private Networks is a great example of Ridgemont creating value by aligning a leading management team in enterprise fiber, long-term private capital, and experienced board leadership,” said George Morgan, senior advisor, Ridgemont Equity Partners. This partnership is a proof point of co-creating value and growth, and it’s a model we can continue to build upon in the future.” “I’d like to thank Ridgemont Equity Partners for their commitment, shared vision, and strategic insights. “We will bring UPN and Segra together to create a new, stand-alone company that continues to offer our customers a broad portfolio of commercial business services,” said Cox Communications President Mark Greatrex. The transaction is expected to close by June 30. Scott earned his MBA from the University of Virginia and holds a bachelor's degree from Washington and Lee University.Cox Communications to Acquire Full Interest in Unite Private NetworksĪtlanta, GA (May 15, 2023) – Cox Communications has entered into a definitive agreement to acquire the remaining interest in Unite Private Networks (UPN). Prior to joining Cox, Scott served as the vice president of corporate development for PGi, an equity analyst for Priderock Management and an investment banking analyst in the M&A group of First Union Securities (formerly Bowles Hollowell Conner). During that time, Scott has executed more than 40 strategic transactions with an aggregate value of more than $10 billion and has served on the boards of Unite Private Networks, InSite Wireless Group and EdgeConneX. He joined Cox Communications in 2012 before coming to Cox Enterprises in 2021. Scott has more than 20 years of corporate development and deal-making experience. Corporate Development leads the execution of acquisitions, strategic investments, joint ventures and divestitures for the company. In this role, Scott works closely with executives across the enterprise to drive long-term, inorganic growth. Scott LeTourneau is senior vice president of Corporate Development at Cox Enterprises.
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