Seaborn has emerged from Chapter 11 bankruptcy having reduced total outstanding debt, revised debt maturity arrangements, and restructured its ownership to provide a solid basis for the continued growth of the business going forward.
Coincident with the consolidation and Chapter 11 emergence, Larry Schwartz, former CEO of Seaborn, and Roger Kuebel, former CFO of Seaborn, have left Seaborn and the Seabras Group.
Pete Hayes and Don Shassian, Partners Group-appointed Board members, will serve as Interim CEO and Interim CFO, respectively, of the Seabras Group. Andy Bax, the Chief Operating Officer (“COO”) of Seaborn, will remain in the same role.
"We are excited about the future and sincerely thank all of our employees, customers, providers and other business partners for their continued commitment to the company”, said Andy Bax, Chief Operating Officer of Seaborn. “Our world-class team will continue to work hard to deliver innovative advancements and new, industry-leading solutions for our customers and partners for years to come."
“We believe that Seaborn’s technology-driven, client-first approach and advanced delivery solutions are best-in-class,” says Todd Bright, Partner and Head of Private Infrastructure Americas at Partners Group, a global private markets investment manager and owner of Seaborn on behalf of its clients. “We will continue to work side-by-side with Seaborn as a value-added investor to help the company meet the needs of its customers now and in the future.”
Seaborn is an independent cable operator that fully operates and maintains its submarine and terrestrial cable infrastructure. POPs, terrestrial backhaul, landing stations and subsea cable are all under Seaborn’s control.
http://www.seabornnetworks.com
Seaborn extends Seabras-1 IP Network to key data centers
- Amsterdam - AMS-IX now live (January 6, 2020)
- Frankfurt - DE-CIX now live (January 6, 2020)
- London - LINX now live (January 6, 2020)
- San Jose - Equinix IX (SV1) live by end of January 2020
- Los Angeles - CoreSite Any2 IX (LA1) live by end January 2020
- Ashburn - Equinix IX (DC4) live by end January 2020
“We continue to see tremendous growth across our high-quality IP Network as we develop new and innovative connectivity options for our customers through our transit and peering fabric or by enabling direct, high capacity connectivity to our IX partners,” said Seaborn COO Andy Bax. “Through these high capacity IX connections, we want our customers to enjoy remote peering services across an ever-growing number of strategic global exchanges. January is just the start of this exciting expansion of our IP network and we look forward to announcing more global exchanges for Seabras-1 being on-net for Seaborn shortly.”
Seaborn Networks is the developer-owner-operator of submarine fiber optic cable systems, including Seabras-1 between São Paulo and New York.
