Pamlico Capital has acquired RF cable vendor ATX Networks for an undisclosed sum, the companies announced this morning. ATX Networks said members of its management had reinvested in the partnership with Pamlico Capital to complete the acquisition.
Under the terms of the deal, ATX CEO Ken Wildgoose, along with the current ATX management team, will retain a significant ownership position in the company and continue to lead its growth in partnership with Pamlico Capital going forward.
"ATX Networks is poised to expand through a tireless focus on customer service, continued product innovation, entry into adjacent product categories and the pursuit of complementary acquisitions," Wildgoose said. "With its successful history investing in the cable industry, Pamlico immediately recognized the company's potential and is committed to providing us the financial support and strategic resources necessary to help us execute our growth strategy."
ATX Networks is a provider of radio frequency management equipment, which it said is used by a large number of North American cable operators, as well as cable operators overseas. The company's product line is used by service providers to manipulate radio frequency signals for the distribution of video, Internet applications and voice services to subscribers.
In addition to its core radio frequency platforms, the company has recently launched two suites of new products – the Digital Video Insertion System (DVIS) and UCrypt product families – geared toward solving pressing issues in the subscriber premise and multiple dwelling unit (MDU) market segments.
Trivest Partners and ATX's management team have jointly owned the company since 2008.
Pamlico Capital, formerly known as Wachovia Capital Partners, was founded in 1988 and has invested in excess of $3.5 billion in more than 200 middle-market companies since its inception.