Thermo Telecom Partners, LLC

Description

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 pressure 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. . Thermo made a substantial investment to create XMC. Through its investment, XMC acquired substantially all of the assets of e.spire Communications, Incorporated ("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.

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