MONTREAL, Dec. 23, 2021 /CNW Telbec/ - On December 22, 2021, Novacap, a leading North American private equity firm, announced today that it has closed the transaction announced on October 21, 2021, to acquire Stratus Networks ("Stratus").
Headquartered in Peoria, Illinois, Stratus is a leading provider of fiber optic bandwidth infrastructure services. Founded by co-CEOs John Petrakis and Kevin Morgan in 1998, Stratus has grown to become a leading provider of data and voice networking services for businesses, with a full range of products including data, cloud and voice solutions. John Petrakis and Kevin Morgan will continue in their roles as co-CEOs of Stratus and will remain major shareholders in the company.
About Novacap
Founded in 1981, Novacap is a leading North American private equity firm with over C$8B of AUM that has invested in more than 100 platform companies and completed more than 150 add-on acquisitions. Applying its sector-focused approach since 2007 in TMT, Industries, Digital Infrastructure and now Financial Services, Novacap's deep domain expertise can accelerate company growth and create long-term value. With experienced, dedicated investment and operations teams as well as substantial capital, Novacap has the resources and knowledge that help build world-class businesses. Novacap has offices in Brossard, Québec and Toronto, Ontario. For more information, please visit www.novacap.ca.
About Stratus Networks
Founded in 1998, Stratus has grown to become a leading data and voice network services provider for enterprises across Central Illinois. Since inception, Stratus has invested in and built superior network, product offering, ancillary services, partnerships and proprietary operational systems in order to deliver the best available service to its customers. The Company owns, leases and operates a large fiber network to deliver a full suite of solutions including data, cloud and voice solutions to reach significant scale in order to serve nearly 1,000 highly diversified enterprise customers primarily across the financial services, healthcare, telecom industries. For more information about Stratus, visit www.stratusnet.com.
SOURCE Novacap Management Inc.
Yasmine Sardouk, [email protected], 5142991669
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