The equity firm that controls Neutral Connect Networks acquired Connectivity Wireless
Neutral Connect Networks announced the acquisition of Connectivity Wireless Solutions by M/C Partners, a Boston-based private equity firm that is the leading equity investment firm for Neutral Connect Networks.
M/C Partners acquired Connectivity Wireless Solutions and its subsidiaries, including Simplifi DAS Holdings, with the main aim of consolidating the businesses to accelerate growth in the neutral-host infrastructure and in-building wireless services business.
“These businesses are natural complements to one another and create a combined entity with enhanced scale, industry-leading technical expertise, and the operational capacity to support the growth in this market,” said Brian Clark, Managing Partner at M/C Partners. “M/C Partners has a long and successful heritage in the wireless industry, and we believe the neutral-host infrastructure and in-building wireless business represents a significant growth opportunity, particularly with the planned deployments of CBRS, private LTE networks and the transition to 5G, which we are keen to participate in.”
As part of the acquisition, Stephen Bye has assumed the role of CEO of the newly combined companies. The senior leadership teams of Neutral Connect Networks and Connectivity Wireless Solutions will report directly to Bye.
Over the coming weeks, the companies said they will undergo a reorganization process to improve operating efficiencies. “We will work together to ensure we operate as efficiently as possible to deliver best-in-class solutions and services to our customers, supporting managed Wi-Fi, CBRS, private LTE networks, and the evolution to 5G and beyond.”
“The combination of Neutral Connect Networks and Connectivity Wireless Solutions will enable us to pursue an acceleration of growth in the neutral-host infrastructure and in-building wireless services business, supporting wireless service providers, cable companies, venue owners, property developers and enterprise customers,” said Bye.
Founded in 2016 and based in Boynton Beach, Florida, Neutral Connect Networks is a provider of wireless communications networks (including in-building wireless, managed Wi-Fi and small cells) used by service providers to improve the quality of coverage with increased throughput and capacity in buildings, at sports and entertainment venues, in parks, transportation hubs, and business shopping districts around the U.S.
Connectivity Wireless Solutions, based in Duluth, Georgia, was founded in 2008 and focuses on the design, installation and maintenance of in-building wireless distributed antenna systems. The company has already deployed more than 2,700 in-building wireless networks which provide more than 500 million square feet of coverage across the U.S.
Based in Boston, Massachusetts, M/C Partners is a private equity firm focused exclusively on the communications, information technology services and media sectors. The firm has invested over $2.2 billion of capital into nearly 100 companies, generally investing in companies with enterprise values of $25 million to $250 million. Related current and prior investments include Cavalier Telephone, Ensono, Everstream, Fusepoint, Denovo, ICG Communications, Involta, Lightower, MetroPCS, NuVox, Thrive Networks and Zayo Group.