FOR IMMEDIATE RELEASE
Centerfield Capital Invests in Indiana-based eGIX, Inc.
Indianapolis, Ind., January 3, 2005 – Carmel-based eGIX today announced that it has received a $2,250,000 investment from Centerfield Capital Partners, L.P. The company will use the funds to finance growth opportunities.
“At a time when the number of telecommunications companies is shrinking, eGIX is experiencing strong growth,” said Scott Lutzke, Managing Director of Centerfield Capital Partners.
He cited eGIX’s December acquisition of telecommunications firm Xila from CTI Group (Holdings) Inc. (NASDAQ: CTIG.OB). Xila operated as a competitive provider of bundled local and long distance telecommunications products and services to enterprise customers in the Indianapolis area.
Lutzke additionally noted eGIX’s November acquisition of ECN (Enhanced Communications Network, LLC), a division of The Precedent Companies, who provides telephony services in the Indianapolis area, as well as Dyer, Indiana-based JORSM Internet and Lebanon, Indiana-based In-Motion earlier in 2004.
“eGIX is already a formidable player in the telecommunications field and is poised to become a true Indiana leader in technology and communications,” added Lutzke.
“We have taken an aggressive growth strategy over the past few years with 2004 being our strongest, so our new partnership with Centerfield Capital Partners will enable us to expand eGIX even more rapidly,” said Steve Johns, CEO of eGIX.
Johns believes that eGIX was an attractive partner for Centerfield due to its 15 year track record of consistent growth and profitability, as well as the company’s differentiated product offerings including its eVOLVE line of business services and VoIP applications. “eGIX is the only Indiana-based company providing IP communication services to businesses and residences right now. By entering the market early, we can establish a strong foothold before competitors are up and running,” stated Johns.
Serving Indiana businesses and residences for more than 15 years, eGIX is one of the largest, privately-held integrated communications providers in the U.S. with a national network operating in 37 of the top 50 metropolitan service areas. eGIX serves as a single source for reliable unified voice and data solutions, Internet access (dial-up & broadband), VoIP applications, local line services, IT Consulting and a full suite of enhanced services including unified communications and One Number “Follow Me” service.
Centerfield Capital Partners, L.P. is Indiana’s largest Small Business Investment Company (SBIC). Centerfield invests in privately-held middle market companies which have proven management and the capacity for significant growth. These companies may be seeking capital to launch a new product, enter a new market, or buy another company.
Centerfield also provides capital to management teams or groups seeking to purchase a company or division of a larger firm, and often forms partnerships with management and/or other private equity investors to finance these transactions. |