The acquisition of satellite company CapRock Services Corporation and its subsidiaries from McLeodUSA was completed April 8 when the Federal Communications Commission (FCC) granted approval for the transaction. McLeod USA sold all of the issued and outstanding shares of capital stock of CapRock Services Corporation to CapRock Holdings Inc., a holding company formed by The Riverside Company, Genesis Park, and CapRock Services' current management. The sale also includes two wholly-owned subsidiaries of CapRock Services: CapRock UK Limited and Spacelink Systems Inc.
CapRock Services Corp. owns and operates a network of satellite earth stations and digital interconnecting systems that, together with strategic alliances in the satellite industry, allows CapRock to provide a suite of managed communications services anywhere in the world. The company provides managed telecommunications and satellite services to the oil and gas industry and has a significant presence in the Gulf of Mexico. CapRock Services offers turnkey communications solutions to customers in remote or difficult to reach locations.
Peter Shaper, a founding partner of Genesis Park, a Houston-based private equity and venture capital firm focused on technology-driven, high-growth companies, will become the new Chief Executive Officer of CapRock.
