February 20, 2007 in Portfolio News
Switch & Data Facilities Announces Completion of IPO
Tampa, FL [BUSINESS WIRE]: Switch & Data Facilities Company, Inc. (NASDAQ: SDXC - News), announced today that it had closed its initial public offering of 13,416,667 shares of common stock at the public offering price of $17.00 per share, less underwriting discounts and commissions. Of these 13,416,667 shares that were sold, 9,000,000 shares were sold by the Company and 4,416,667 shares were sold by certain of the Company's stockholders (1,750,000 of which were purchased by the underwriters pursuant to their over-allotment option). The shares trade on the NASDAQ Global Market under the symbol "SDXC."
February 01, 2007 in Seaport News
Seaport Capital completes sale of Everest Broadband to SureWest
Seaport Capital has completed the sale of Everest Broadband to SureWest Communications (Nasdaq: SURW) for $173 million. This sale resulted in Seaport generating 3.3 times its investment and 99.4% IRR. Everest, acquired by Seaport Capital Partners III in June 2006, increased monthly provider EBITDA over 50% during Seaport's ownership. Everest is a competitive provider of high-speed data, video, and voice services in the greater Kansas City area.