NEF Represents Iserv in the Transaction
FOR IMMEDIATE RELEASE
Media Contact: Joy Milkowski, 720-939-5858
NEWTON, Mass. (August 13, 2012) – 382 Communications announced the acquisition of Iserv Co., an independent CLEC and Internet service provider in Grand Rapids, Michigan, citing a fit with its growth strategy in emerging broadband markets. Boston-based 382 Communications is a domestic and international provider of voice, data and network services to carriers and enterprise clients. NEF represented Iserv in the transaction, which was finalized on June 29, 2012. No terms of the arrangement have been released.
382’s acquisition of Iserv not only bolsters both companies’ service offerings and footprint, but it also supports new jobs in Grand Rapids and other network locations. Iserv will continue to operate under its own name and plans to add new sales, support and technical team members to deliver the new wireless and business class services. 382 also plans to utilize Iserv’s data center as a regional expansion hub and Iserv’s corporate headquarters location in Grand Rapids for customer support and billing functions.
The transaction was facilitated through NEF’s Asset Brokerage service and listed on NEF’s Asset Marketplace. NEF represents a variety of telecommunications assets and companies across the US and offers unique marketing programs to match buyers and sellers.
Charlie McLravy, head of Asset Sales at NEF, worked with Iserv during the entire sale process. “The key benefit that Iserv saw in using NEF to represent their interests is our industry experience – we know how to value and present a business like this. Equally important were the relationships we have and our understanding of the state of the industry, so we knew who would be potentially interested in purchasing this company.”
NEF worked with Victor Shepherd, CEO of Iserv, to develop a positioning and pricing strategy that would realize the highest purchase price for the owners and greatest value for the buyers. NEF presented a marketing strategy that would target the most qualified buyers for this type of company. In addition, NEF represented Iserv in all aspects of the sale, through pricing, letter of intent, due diligence, purchase agreement, and closing.
“We were fortunate to have an intelligent and able client,” added McLravy. “We were able to help them get the best sale price in the shortest amount of time, in a very discreet and professional way.”
NEF, Inc., is one of the nation’s top telecommunications consulting and procurement firms, offering a combined 100 years of industry experience and a proven methodology for providing its customers with the best networks, information and pricing available. NEF provides a broad spectrum of solutions from brokerage of dark fiber networks and high bandwidth, fully managed optical services, to buying and selling entire assets through the Asset Marketplace. Through their many partners and carrier relationships, NEF designs custom connectivity solutions and provides solutions spanning 200 fiber providers throughout the US, 150,000 lit buildings and 1600+ data centers. For more information, visit www.NEFiber.com.
About NEF Asset Brokerage & the Asset Marketplace
NEF’s Asset Brokerage leverages extensive industry relationships and specific telecom and colocation expertise to get available assets to the right buyers without unnecessary cycles. Through direct brokerage opportunities or an auction setting, NEF has the experience to make the sales or M&A process streamlined and win-win. NEF also offers specialized consulting, strategic advisement and due diligence solutions for both sides of the asset transaction in support of the large-scale deals.
The Asset Marketplace from NEF is a niche listing destination for buying and selling telecommunications and data center assets, such as high capacity fiber optic networks, unused fiber bandwidth, duct and conduit systems and colocation properties. The Asset Marketplace enables asset owners to monetize or sell their excess fiber, infrastructure or data center space including underutilized capacity or non-strategic assets that could produce revenue that owners may not have time or desire to market.
For more information, visit the NEF Asset Marketplace today or call 877-DK-FIBER.