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The tranche will be used to boost the development of solutions for large data centre companies and Fortune 500 clients.
Co-founder and Editor, The Tech Capital
January 12, 2022 | 8:12 PM GMT
This is the third investment MKD has completed since Hastings Equity Partners, a private equity firm focused on investing in lower middle-market businesses, acquired MKD in January 2021.
Based in Warrenton, VA and founded in 2014, XS Telecom is a national provider of communications infrastructure, providing voice and data network cable design, installation, and support solutions for large national data centre companies and Fortune 500 clients.
Greg Rzonca, Chief Executive Officer of Massachusetts headquartered MKD, said: “We are excited to invest in XS Telecom and partner with the management team. XS Telecom’s highly specialized service offering is an excellent complement to the existing suite of services at MKD.
“The data centre market is a core focus for MKD and the investment in XS Telecom enhances our footprint in the data centre space. XS Telecom is led by a group of entrepreneurs that shares our vision of a safety-first culture coupled with unprecedented customer service at MKD.”
XST founders Ed Phillips and Charlie Phillips added: “We are thrilled to partner with MKD and Hastings to continue XST’s growth into the future. We believe that as part of the MKD platform we can expand our services offering to better serve our customers.”
Grant Reckhow, Principal at Hastings, commented: “We are excited about the strategic fit between XST and MKD, and the two teams are already seamlessly working together. This acquisition greatly expands MKD’s presence in the data centre market.”
Locke Lord LLP provided legal counsel to MKD and Hastings on the transaction. Graycliff Partners LP provided financing to MKD, and XS Telecom was advised by MidCap Advisors, LLC.
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