wiredInUSA March 2017

Subsea fiber company gets a lifeline

HIG Capital has acquired the assets of Xtera Communications, a provider of bespoke subsea fiber optic solutions, having previously provided debtor-in- possession financing to the Xtera debtors in connection with the chapter 11 case. Based in the UK and the US, Xtera supplies un-repeatered and repeatered subsea systems, using high performance optical amplifiers to carry data. Under HIG’s ownership, Xtera’s management and technical team will remain in place, focusing on existing customer contracts and expanding the business. Carl Harring, managing director at HIG, said: “We believe Xtera has considerable growth potential as an independent, well- funded business with a new ownership structure. Its world class IP protected technology is not only differentiated and superior to that of its competitors, but it is

delivered to an impressive range of global clients at a cost-effective price point.

“We are excited to be working with this industry-leading team, and our immediate focus will be to work with them to deliver and build on existing contracts and, over the long-term, provide the financial support to enable the company to fully capitalize on its technology with a broader base of customers.” Stuart Barnes, founder of Xtera, added: “We are delighted to announce our new partnership with HIG Capital, which has previously invested in the fiber optics sector and has a proven understanding of how to grow specialist industrial suppliers into market-leading players. We share the same vision of strengthening Xtera’s footprint in the future.”

wiredInUSA - March 2017

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