The newly integrated company will be able to offer world-class cloud services, advanced technologies and telecom services that will keep Central Coast businesses competitive both locally and globally
Chicago, IL/San Luis Obispo, CA – March 2017 – Auctus Group Inc., a Chicago based Investment Bank Firm is pleased to announce its role as exclusive advisor to Digital West in its acquisition of Norcast Telecom with a mezzanine debt and minority equity investment provided by Farragut Capital Partners. The transaction was announced by Reginald McGaugh, Senior Managing Director & Partner of Auctus Group, Inc. “It was truly a pleasure working with the management teams of both companies and meeting everyone’s expectation to complete this transaction”, said Reginald McGaugh
Digital West Networks Inc. has acquired Norcast Telecom Networks to create what they’re calling the Central Coast’s single largest business infrastructure provider — with about 60 employees and more than 2,500 customers ranging from small businesses to Fortune 500 companies. The firms expect to be fully integrated within six months, according to Tim Williams, who will be CEO of the new company. “We were extremely impressed with the team at the Auctus Group, Inc and we look forward to their support for our future acquisitions.”
The two companies have worked closely together for more than 10 years — with many of the same customers — and have talked on and off about merging during that time, according to Norcast President Jeff Buckingham. Both companies have about 30 employees and share common values, including a commitment to innovation, fostering win-win relationships and extensive community involvement, he said, adding that the acquisition is a true collaborative effort. Buckingham will become the combined company’s President and Chief Client Officer. Michael Boyer will remain as Chief Operating Officer and Sandy Davis will remain Chief Financial Officer.
ABOUT DIGITAL WEST
Digital West is your trusted technology partner. We work side-by-side with you to simplify the complex world of IT and ensure your business succeeds. Digital West works with a wide variety of public and private partners to deliver a comprehensive suite of services to meet virtually any IT Infrastructure need. Digital West was founded in 1999 by Tim Williams, who continues to lead the company today. Tim’s original vision was to bring better Internet service to local businesses in the greater Central Coast region of California. Over a decade later, Digital West has expanded across North America and overseas, offering colocation, managing Wide Area Networks, delivering fiber connectivity and providing cloud services. www.digitalwest.com
ABOUT NORCAST TELECOM
We keep improving local telecom. Norcast Telecom Networks employees passionately deliver reliable, responsive services with the best, innovative products to local businesses every day. A successful merger with Blue Rooster Telecom has allowed Norcast to expand its services, networks, and customer-oriented culture even more. This sets us apart from other telecom companies at the local and national level. Our services and products keep improving, as does our support of local nonprofit organizations and the community. www.norcast.net
ABOUT FARRAGUT CAPITAL PARTNERS
Farragut Capital Partners is a leading source of mezzanine and private equity capital for entrepreneurs, business owners, and private equity firms seeking to facilitate growth, acquisitions, recapitalizations, management buy-outs, generational transfers, and other ownership transitions. Farragut Capital Partners works with family businesses, financial sponsors, independent sponsors, senior lenders, and management teams to create and build value over time. We invest in established lower middle market companies with: Proven, asset-light business models; Stable cash flows; Strong, committed management teams; Unique and defensible market positions; Reasonable capital expenditure and working capital needs; and The potential for significant growth in equity value. www.farragutcapitalpartners.com
ABOUT AUCTUS GROUP
Auctus Group, Inc. is a multi-faceted financial group specializing in merger & acquisition advisory, institutional private placements of debt and equity, financial restructuring, valuation, and strategic consulting. Our experienced professionals have the necessary foresight to navigate through highly complicated transactions to maximize value for our clients and create steady growth. With best-in-class access to strategic and financial buyers, as well as capital providers, throughout the world, our bankers identify opportunities and navigate challenges with a local understanding on a global scale.