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Overview
How we added value
- Proprietary Sourcing of Under Managed Asset Base M/C’s acute industry knowledge network of relationships led M/C to discover and acquire the National Grid tower and fiber assets preemptively to a competitive auction process.
- Company Restructuring and Reorganization M/C and Pamlico reorganized the company into separate fiber and tower divisions and recruited a repeat M/C entrepreneur to run the fiber business. Â In 2008, SBA Communications Corporation (Nasdaq:SBAC) acquired Lightower Wireless LLC, the wireless infrastructure subsidiary that held the wireless tower assets.
- Strategic Guidance/Sale Process M/C ultimately led the sale process of Lightower to Berkshire Partners in 2012, which simultaneously merged the Lightower assets with Sidera Networks.
- Recruited Management Team As a lead investor, M/C Partners was instrumental in recruiting the new management team for Lightower, led by repeat M/C entrepreneur Rob Shanahan, co-founder and former CEO of Conversent Communications.
- Providing Growth Capital to Fund Acquisitions After M/C and Pamlico’s initial acquisition of Lightower’s utility fiber assets in 2007, Lightower acquired six additional fiber operators to build the premier metro fiber company in the Northeast.
- Corporate Development M/C continuously remained active in corporate development/acquisition efforts as well as capital-raising, including a February 2012 recapitalization that better positioned the company financially.
Outcome