Cox Communications yesterday announced that it has completed the acquisition of commercial fiber provider, Unite Private Networks (UPN). UPN and Cox-owned Segra will form a new standalone fiber company to accelerate growth in the company's commercial fiber solutions.
Cox became the majority owner of UPN in 2016 in partnership with Ridgemont Equity Partners and the UPN management team. Kevin T. Hart leads the newly combined company as chief executive officer, and Jason Adkins serves as president, reporting to Hart.
Cox acquired Segra in 2021, and Cox has invested in additional business services companies including cloud and managed IT services providers RapidScale and Logicworks. Evercore acted as exclusive financial advisor to Cox Communications in this transaction and Eversheds Sutherland acted as legal counsel. 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.
Mark Greatrex, president, Cox Communications
We'll draw upon the successes of Segra and UPN, in addition to the rich history and values of Cox as we form our new fiber infrastructure company. Bringing Segra and UPN together into a standalone fiber platform will enhance our ability to serve our customers with an expanded footprint and greater network capacity.
Kevin T. Hart, chief executive officer of the new company
We're committed to offering our commercial customers a full portfolio of services. Continuing to enable our customers to win in the marketplace by offering them best in class connectivity and business services is our top priority.
Jason Adkins, president of the new company
By bringing Segra and UPN together, we strengthen our ability to provide lightning-fast speeds and enhanced reliability over fiber infrastructure. This opens new doors for businesses and communities across our network.
