SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report May 31, 2000
(Date of earliest event reported) (May 31, 2000)
CTC COMMUNICATIONS GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-27505 04-3469590
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
220 Bear Hill Rd., Waltham, Massachusetts 02451
(Address of principal executive offices) (Zip Code)
(781) 466-8080
(Registrant's telephone number including area code)
(Former name or former address if changed since last report)
<PAGE>
Item 5. Other Events
On May 31, 2000, the Registrant issued the following press release:
"Mark Nunnelly of Bain Capital and Scott Sperling of Thomas H. Lee Company
Join CTC Communications Group Board of Directors
WALTHAM, Mass., May 31, 2000-CTC Communications Group Inc. (NASDAQ:CPTL)- a
rapidly expanding provider of state-of-the-art integrated communications
solutions for medium-to-large enterprises-today announced that Mark Nunnelly
of Bain Capital and Scott Sperling of Thomas H. Lee Company have been elected
to its Board of Directors.
Mark E. Nunnelly joined Bain Capital as a General Partner in 1990 and has
served as Managing Director since April 1993. Mr. Nunnelly also serves on
the Board of Directors of Domino's, DoubleClick, Stream International, Modus
Media International, Eschelon Telecom, and eCredit.com. Mr. Nunnelly
received an M.B.A. from Harvard Business School and a B.A. from Centre
College.
Scott M. Sperling has been a Managing Director of Thomas H. Lee Company since
July 1994. He is also President of TH Lee, Putnam Capital, Trustee of THL
Equity Trust III and Managing Director of THL Equity Advisors IV, LLC. Mr.
Sperling is currently a Director of Fisher Scientific International, Inc.,
GenTek, Inc., Safelite Glass Corp., LiveWire Systems LLC, Wyndham
International, GoodHome.com and several private companies. He holds an MBA
degree from Harvard University and a B.S. from Purdue University.
Mr. Robert J. Fabbricatore, Chairman of the Board of CTC Communications
stated, "CTC is fortunate to obtain the participation of Mark and Scott as
members of its Board of Directors. Their welcome addition further expands the
diversity of experience and talent available on the Board and, we are pleased
to have their validation of our business plan. I look forward to Mark and
Scott's strategic contributions as CTC continues to accelerate its growth and
expand its markets and broadband capabilities".
About CTC Communications
CTC is a rapidly growing, full-service Integrated Communications Provider
(ICP) delivering converged voice, data, Internet and video solutions to
medium and larger business customers in the most robust telecommunications
region in the world-the Washington D.C. to Boston corridor. Recently
designated by Bloomberg Personal Finance Magazine as one of the top "one
hundred fastest growing U.S. technology companies," CTC was serving more than
13,000 customers with 314,000+ access lines as of March 31, 2000. Central to
the Company's performance and future growth is its Cisco-powered IP+ATM
Integrated Communications Network (ICN) named IntelliNET(sm) which is
deployed throughout the northeast states.
CTC markets its full portfolio of services through its over 450 member sales
and service representatives located in 34 branch offices throughout the New
England States, New York, New Jersey and Maryland. The Company, through its
dedicated commitment to exceptional customer service, has achieved an
industry-leading market share in the northeast and an industry-leading line
retention rate in excess of 99 percent. CTC can be found on the worldwide
web at www.ctcnet.com
The statements in this press release that relate to future plans, events or
performance are forward-looking statements that involve risk and
uncertainties that could cause actual results to differ materially from those
reflected in the forward-looking statements including branch sales office and
ICN Network expansion and fiber network build-out.. Readers are,
accordingly, cautioned not to place undue reliance on these forward-looking
statements, which speak only as to the date hereof. Additional information
about these risks and uncertainties is set forth in the Company's most recent
report on Form 10-Q. CTC undertakes no obligation to release publicly the
results of any revisions to these forward-looking statements that may be made
to reflect results, events or circumstances after the date hereof.
# # #
Contact: John Dinsmore John Pittenger
Feldman Communications Inc. CTC Communications
410-571-8900 (t) 781-466-1302 (t)
[email protected] (e) [email protected] (e)
www.FeldmanCommunications.com www.ctcnet.com"
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CTC COMMUNICATIONS GROUP, INC.
By: /s/ John D. Pittenger
John D. Pittenger,
Executive Vice President, Finance and Administration
Dated: May 31, 2000
