CBTS completes sale to TowerBrook Capital Partners

CBTS, the former business services provider division of altafiber, confirmed the completion of its acquisition by TowerBrook Capital Partners.

TowerBrook reached a deal to acquire CBTS from altafiber in February, signaling what it says is a commitment to invest in enabling it to further its mission to serve enterprise customers.

In tandem with the acquisition's close, CBTS named its newly appointed board of directors. The board includes industry visionaries with extensive experience leading technology companies through periods of exponential growth.

In addition to leaders from TowerBrook and CBTS, the board includes three key industry veterans: former Tata Consulting and Wipro executive Abidali Neemuchwala, Cisco veteran Rick Snyder, and former Deloitte tax and legal expert Jerry Leamon.

Jeff Lackey, President and CEO of CBTS, sees potential upside through TowerBrook’s ownership.

“This accelerates our customers’ ability to harness the power of industry-altering technologies, a top priority for many business leaders,” he said. “TowerBrook’s vision and strategic investments will support CBTS’ growth in these areas, fueling our expansion in the markets we serve.”

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