Thermo Telecom Partners

Thermo's management believes telecommunications services are drivers of economic growth. Companies in the sector are being confronted, either directly or indirectly, with technological change, increased competition, an evolving regulatory environment and shortened product cycles. Those factors coupled with fast moving product cycles and on-going pr... essure to evolve causes volatility in the sector which creates both risk and opportunity. Thermo believes that there are attractive investment opportunities in companies with compelling prospects, competitive advantages, and accomplished management teams. Thermo has made eight direct investments in the telecommunications industry through Thermo Telecom Partners LLC. Xspedius Management Corp. LLC ("XMC" ). Thermo made a substantial investment to create XMC. Through its investment, XMC acquired substantially all of the assets of e.spire Communications, Inc. ("e.spire"). XMC acquired e.spire's competitive local switching and substantial fiber assets in 36 markets spanning 19 states. XMC was an integrated communications provider and offered traditional local and long distance voice services, dedicated Internet access, and advanced data solutions, including ATM Ethernet. Thermo committed additional capital and management to facilitate XMC's turnaround and growth. TW Telecom acquired XMC in 2006. Xspedius Holdings Corp. ("XHC" ). Thermo also invested in XHC, a competitive communications carrier based in Lake Charles, Louisiana. XHC offered integrated voice, data and Internet services to small and medium-sized businesses throughout the southeastern states, and offered dedicated Internet service through SDSL and T-1's. Effective April 1, 2003, Thermo combined the business of XMC and XHC into one company which operated under the name Xspedius Communications ("Xspedius). MPower Communications ("MPower" ). In 2002, Thermo invested in the Texas assets of MPower Communications. During 2003, these assets were effectively separated from MPower, and independently operated since ...Read More