H.I.G. Capital gets assets of Xtera Communications

H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with over EUR 20bn of equity capital under management, has acquired substantially all the assets of Xtera Communications, Inc., a provider of innovative and bespoke sub-sea fiber optic solutions, the company said.

H.I.G. previously provided debtor-in-possession financing to the Xtera debtors in connection with the chapter 11 case.

Established in 1998 and based in the UK (Harold Wood, Essex) and the US (Allen, Texas), Xtera supplies un-repeatered and repeatered sub-sea systems, using high performance optical amplifiers to carry data.

Under H.I.G.´s ownership, Xtera´s management and technical team will remain at the helm of the business, focused on successfully executing key existing customer contracts and expanding the business in the rapidly growing markets it serves with a clear roadmap of disruptive product launches.

Xtera is an innovative provider of sub-sea telecoms solutions and carries an extensive portfolio of intellectual property. The company supplies both un-repeatered and repeatered systems, using its high performance optical amplifiers to deliver traffic directly inland to cities.

Xtera creates novel solutions that are suited for each individual customer whether that be provision of a full turnkey system, an open architecture design or supply of a particular product or service.

H.I.G. is a global private equity and alternative assets investment firm based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the US, as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach. The firm´s current portfolio includes more than 100 companies with combined sales in excess of USD30bn.