CampusLink to Merge with PaeTec Communications
PaeTec Communications, Inc., a Kline Hawkes & Co. Portfolio Company , announced on June 10th that it had signed a definitive agreement to merge with Campuslink Communications, Inc. for approximately $44 million in PaeTec stock and assumed debt. Post merger, the Fund is expected to own approximately 7.6% of the combined entity.
PaeTec offers local, long distance, Internet, e-commerce and data services to businesses throughout the United States. Campuslink provides local, long distance, high speed Internet and cable television services to more than 50,000 residents at over sixty locations throughout the United States, including college campuses and apartment complexes. Campuslink also designs, installs and maintains private voice, data and video networks for college, residential and corporate campuses and has fashioned a reputation as the communications company for institutions of higher learning.
The merger promises to dramatically strengthen the PaeTec product portfolio and its ability to service the high-speed Internet, video and long distance needs of thousands of students, businesses and apartment dwellers. Joseph Golden, CEO of Campuslink remarked, The network engineering expertise of PaeTec employees and their quality service is critically important for our higher education clients. Arunas A. Chesonis, Chairman and CEO of PaeTec asserts, Together we are committed to being the most customer oriented provider of communications services to the higher education marketplace.
PaeTec's corporate offices are in Fairport, New York. Campuslink, operates out of Ann Arbor, Michigan. (Please see our list of Portfolio Companies inside)