World News: 12:30 GMT Monday 14th January 2019. [Segra via Businesswire via SPi World News]
Lumos Networks Corp. (“Lumos”) and Spirit Communications (“Spirit”) announced today that the two companies have been rebranded as SEGRA℠.
In announcing Segra, CEO Timothy G. Biltz said, “This new brand marks the official launch of a single company with a mission and a culture that are dedicated to providing winning solutions for our customers. We are looking forward to the opportunities this gives us to better serve our customers, our communities and our employees.”
In April 2018, EQT Partners completed the purchase of a majority stake in Spirit Communications and announced it would combine the Spirit assets with Lumos. Since that time, the two companies have integrated operations, have expanded their fiber-optic network and product sets and have made further investments in existing and new markets across nine states in the Mid-Atlantic and Southeast. Notable new markets include Raleigh, Greensboro, and Fayetteville, North Carolina.
The company’s Rural Local Exchange Carrier (RLEC) segment will retain the Lumos Networks name and will be supported by a dedicated team of employees led by Diego Anderson, Senior Vice President and General Manger, Residential and Small Business. This segment will continue to focus on delivering product solutions to residential and small business customers within those regulated service areas.
“The management team and employees of the combined company have completed several integration projects to meet the strong demand we’re seeing for our products and services,” said Doug Gilstrap, Chairman of the Board for Segra. “As Segra, we look forward to meeting the needs of our customers and strengthening our company’s leadership position in service, reliability and product innovation.”
The Segra logo represents design elements that signal the modern, trustworthy and bold approach the company stands for in the market. Customer focus groups, market research and employee involvement were all part of the process of choosing the new name and brand. Act 1 Partners of Portland, Ore. worked with the management team to assist in the process of selecting a new name and creating its brand design.
“As part of the branding process, we conducted independent market research which revealed that both Lumos and Spirit had excellent customer service and reliability ratings that led the industry in the markets we serve,” said Grey Humphrey, chief revenue officer of Segra. “Another finding that emerged from our work: Employees and management believed a new name would be the best way launch the combined company to the marketplace. During the search for a new name, the word Segra was suggested by an employee and soon became a popular choice among the team. It fit with all the qualities we were seeking in a name - short, easy to pronounce and distinct. It is derived from an ancient verb meaning to win, as in to prevail or overcome. This aligns with our focus on providing innovative, industry-leading solutions and service for our customers.”
Jan Vesely, a Segra board member as well as Partner at EQT Partners and Investment Advisor to EQT Infrastructure, said, “The new brand represents many attributes that EQT seeks in its infrastructure investments and we look forward to supporting Segra as it expands its world-class fiber-optic network and its portfolio of products and services.”
Customers will begin to see the Segra logo on company vehicles, buildings, and other materials over the next few months. Customer service, rates and network coverage will not change as a result of this re-branding process. “While our name and look will change, our guiding principles of doing business – most importantly putting the customer first – will remain the same,” said Biltz.
Segra is one of the largest independent fiber bandwidth companies in the U.S. Representing a successful merger of Lumos Networks and Spirit Communications, the company now has the most advanced fiber infrastructure network of more than 21,000 miles that connects more than 9,000 on-net locations and 44 data centers throughout nine Mid-Atlantic and Southeastern states. Segra provides Ethernet, MPLS, dark fiber, advanced data center services, IP and managed services, voice and cloud solutions, all backed by its industry-leading service and reliability. Customers include carriers, enterprises, governments, healthcare organizations, defense, education and small businesses. For more information about Segra's technology and commitment to customer care, visit segra.com.
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 28 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. More info: www.eqtpartners.com
Business Wire: 12:30 GMT Monday 14th January 2019
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