Logix Fiber Networks has set a new growth path by refinancing its debt and naming Greg O’Connor its new CEO—two moves that will bolster liquidity and position the company for long-term growth.
These transactions include a new investment of $45 million from OCS, partial repayment and long-term maturity extension of the existing first-lien term loan, the exchange of the existing second-lien term loan into a combination of a new second-lien term loan and new preferred equity, and the extinguishment of certain other funded debt instruments. According to Logix, these moves enable it to reduce its debt by $150 million.
As it completed its refinancing efforts, Logix named Greg O'Connor its new CEO. A 25-year telecom veteran, O’Connor comes to the role with over 25 years of experience across network engineering, wireless and wireline operations, and infrastructure investment.
Before coming to Logix, he held senior roles at T-Mobile, Cogent Communications, and Sprint, including serving as General Manager of T-Mobile's Wireline business and COO at Cogent following its acquisition of T-Mobile Wireline. He successfully led the integration of large-scale network operations and helped drive organizational optimization, new product launches, and revenue acceleration across multiple business units.
Enhancing Texas expansion
Logix's big focus is driving further growth in the Texas market, where it has a sizeable network presence.
With over 300,000 fiber miles and over 3,000 on-network buildings, Logix operates one of the largest independent fiber networks in Texas and serves thousands of businesses and carriers with connectivity, carrier-grade Ethernet, wavelength connectivity up to 400G, dark fiber and dedicated internet access.
The company said the additional financing will enable it to achieve three main goals:
- Network expansion: The company will focus on building its fiber footprint to address bandwidth-intensive application opportunities.
- 800G wavelength services: Today, the company offers up to 100 Gbps wavelengths to connect data centers and enterprises across Texas. However, the company is set on rolling out 800G wave connectivity.
- Carrier and enterprise capabilities: Logix will enhance service capabilities for enterprise and carrier customers with new infrastructure investments in key Texas markets
O’Connor said that Logix’s team “has positioned us to raise new capital to accelerate growth beyond the 3,000 buildings and more than 80 data centers we connect today in Texas' largest markets."
Tailored solution focus
A key focus for Logix is to provide services that meet a diverse set of enterprise and carrier needs.
As businesses demand more bandwidth, lower latency, and increased reliability, Logix remains focused on delivering enterprise-grade fiber solutions tailored to their needs.
With this new investment, Logix can accelerate its network expansion, roll out advanced connectivity solutions, and support the rapidly growing digital economy across Texas.
Leveraging its wide range of fiber assets in Texas, Logix offers a wide range of services, including business internet, Ethernet, cloud, voice, and optical wavelength services. It also offers SASE SD-WAN, which includes next-gen firewall capabilities with unified threat management and anti-virus service options.
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Sean Buckley
Sean is responsible for establishing and executing the editorial strategies of Lightwave and Broadband Technology Report across their websites, email newsletters, events, and other information products.