NOVA Infrastructure Acquires Xchange Telecom / Skywire Networks
Summary
NEW YORK--(BUSINESS WIRE)--NOVA Infrastructure (“NOVA”), a middle-market infrastructure investment firm, today announced that it has acquired Xchange Telecom (“Xchange”), a company that delivers high-speed internet, voice, and unified communication services to residents and businesses in Brooklyn, Queens, Manhattan and the Bronx, as well as communities in upstate New York and New Jersey. “ We see tremendous potential in the high-speed broadband Xchange provides New Yorkers, especially those underserved businesses and residents in older buildings and harder to access areas,” commented Chris Beall, Founder and Managing Partner of NOVA Infrastructure. “ NOVA has an excellent reputation of collaborating with and supporting its portfolio companies to provide capital, relationship management, and operations expertise to help them reach their fullest potential." NOVA seeks to make investments which pair the downside protection features of the infrastructure asset class with operationally focused, value-added upside strategies. Xchange has a specialized hybrid telecommunications network that leverages fixed wireless and fiber broadband facilities throughout its footprint to bring significant bandwidth and reliable communications solutions to its customers.