AMP Capital Announces Entry into a Definitive Agreement to Purchase Everstream


M/C Partners-led Consortium to sell Everstream

CLEVELAND–March 9, 2018–Everstream Solutions LLC (“Everstream”), a super-regional network service provider bringing fiber-based Ethernet, internet and data center solutions to businesses throughout the Midwest, announced today that its current investors—M/C Partners, a Boston-based private equity firm, and its limited partners including investors advised by the Private Equity Group of J.P. Morgan Asset Management and Morgan Stanley Alternative Investment Partners—have entered into a definitive agreement to sell Everstream to AMP Capital. Terms were not disclosed.

“Our team is very thankful to M/C for the opportunity to partner with them and deliver an outstanding result to their investors,” said Brett Lindsey, President and Chief Executive Officer, Everstream. M/C initially acquired Everstream from a non-profit in 2015 and has since supported the business in its accelerated organic growth strategy as well as its acquisitions of two major Michigan-based fiber network operators.

“We are excited to join forces with AMP Capital,” Lindsey continued. “With their support, Everstream looks forward to continued positive growth through acquisitions, greenfield network builds and organic growth in our existing markets.”

AMP Capital is a global investment manager headquartered in Australia with a growing international presence, including in North America. In the U.S., AMP Capital has offices in New York, Chicago and Irvine, California. Its U.S. infrastructure equity investments include Chicago’s Millennium Garages, the largest underground parking system in the U.S., and ITS ConGlobal, a leading shipping and intermodal terminal operator.

“Everstream will be our platform for the consolidation of telecom assets in North America and we are excited about the opportunity to invest in the U.S. telecom sector and grow the business,” said Dylan Foo, Partner and Head of Americas Infrastructure Equity, AMP Capital.

“We continually look for quality investments on behalf of our clients. Our focus remains on the middle market, which is where we see the greatest value and opportunity,” Foo continued.

“Communications infrastructure has become an essential service in the modern world, including fiber, wireless and data centers. AMP Capital has a strong global pedigree in this target sector, and we are pleased to secure our first North American fiber asset,” added Matt Evans, Partner and Head of AMP Capital Infrastructure Equity communications infrastructure strategy.

The transaction is expected to close in the second quarter of 2018 once necessary regulatory approvals are obtained. Everstream plans to utilize the investment from AMP Capital for acquisitions and to fund organic network growth and development.

“M/C has been investing in the fiber industry for over three decades and has worked with Brett on three transactions in the last 15 years,” said Gillis Cashman, Managing Partner, M/C Partners, and member of the Everstream Board of Directors. “We couldn’t be happier with the outcome of this investment and for the Everstream team.”

Evercore and MVP Capital served as lead financial advisers to Everstream and M/C Partners in connection with the transaction. Choate, Hall & Stewart and Thompson Hine served as legal counsel to Everstream and M/C Partners. Goldman Sachs served as financial advisor to AMP Capital and White & Case served as legal counsel.

About Everstream

Everstream is a super-regional network service provider bringing fiber-based Ethernet, internet and data center solutions to businesses throughout the Midwest. We are the Business Fiber Network®. We focus on delivering best-in-class network solutions while providing an unrivaled commitment to customer service. With more than 10,000 route miles and comprehensive data center connectivity at 100 Gigabit speed, we provide the fastest network in our service areas. Everstream’s network allows businesses to operate a converged IP network capable of delivering robust voice, video, and data services at speeds from 10 Mbps to 100 Gbps. For more information, visit

About AMP Capital

AMP Capital is a specialist global investment manager with A$187.7 billion in funds under management as of December 31, 2017, and more than 250 investment professionals. AMP Capital has a heritage and strength in real estate and infrastructure, and specialist expertise in fixed income, equities and multi-asset solutions. It is a subsidiary of AMP Limited, which was established in 1849, and is one of Australia’s largest retail and corporate pension providers. For more information, visit

About M/C Partners

M/C Partners is a private equity firm focused exclusively on the communications, media and information technology sectors. The firm has invested over $2.2 billion of capital into over 130 companies in those sectors. Companies M/C has backed include Cavalier Telephone, Ensono, Everstream, Fusepoint, ICG Communications, Involta, Legendary Pictures, Lightower, MetroPCS, NuVox, Thrive and Zayo Group. The firm has strong institutional backing from the nation’s leading pension funds and endowments as well as a long track record of success. For more information, visit

About J.P. Morgan Asset Management

J.P. Morgan Asset Management, with assets under management of $1.7 trillion (as of December 31, 2017), is a global leader in investment management. J.P. Morgan Asset Management’s clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. JPMorgan Chase & Co. (NYSE: JPM), the parent company of J.P. Morgan Asset Management, is a leading global asset management firm with assets of approximately $2.5 trillion (as of December 31, 2017) and operations worldwide. Information about JPMorgan Chase & Co. is available at J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co. and its affiliates worldwide.

About Morgan Stanley Alternative Investment Partners

Alternative Investment Partners Private Markets, an investment team within Morgan Stanley Investment Management, was established in 2000 and specializes in delivering unique and innovative private market solutions to a global client base. AIP Private Markets’ built-for-purpose investment team draws on its deep understanding of private markets strategies formed over decades of investment experience and seeks to apply this expertise and insight to bring thoughtful, opportunistic and innovative solutions to clients.

Morgan Stanley Investment Management, together with its investment advisory affiliates, has 608 investment professionals around the world and $482 billion in assets under management or supervision as of December 31, 2017. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.


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Established in 1999 and based in Raleigh, is a trusted, local communications and managed services provider to businesses leveraging its fully owned fiber network. celito creates technology solutions for businesses across all sectors both large and small. From supplying high-speed Internet service, to providing quality VoIP telecom service, to setting up your office network, they offer turnkey solutions from the desktop to the cloud




Jason P. Stutman

Jason Stutman is a Senior Fund Accountant at M/C Partners, responsible for the cash management of co-investment vehicles, preparing quarterly financial statements, and communication with Limited Partners. Prior to joining the firm in 2023, Jason worked in the Portfolio Analytics Group at HarbourVest Partners. He earned a BSBA with honors in Finance with a minor in Computer Information Science from The Ohio State University. Jason lives in South Boston and enjoys cheering on Boston sports teams, playing hockey and golf and traveling.






Cuba Burch Berner

Cuba Burch Berner is an Associate at M|C Partners, where he focuses on investment opportunities in digital infrastructure and technology services. Prior to joining the firm in 2022, Cuba was an Equity Research Associate at Citi covering infrastructure companies within the telecommunications industry, including data centers and wireless towers. He holds a B.S. in Mathematics with a specialization in Economics from the University of Chicago. Cuba currently lives in Boston’s West End and enjoys  a myriad of outdoor activities including running, swimming, hiking, and skiing.





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James F. Wade

Jim Wade co-founded M/C Partners in 1986 with Dave Croll. He has been investing in communications and technology services since the advent of wireless and broadband, cornerstones of the firm’s sector focus. As Chairman, he manages the firm’s investment process, and continuously seeks out management teams, company prospects and financial resources to grow the portfolio. Jim’s successful track record includes MetroPCS (IPO), Lightower Holdings (acquired by Berkshire Partners), Cavalier Telephone (acquired by PAETEC), NuVox Communications (acquired by WindStream), Attenda (acquired by Darwin Private Equity), Melita (acquired by Apax Partners), PR Wireless (joint venture with Sprint affiliate in Puerto Rico), Thrive Networks (acquired/recapitalized by Court Square) and Involta (acquired by Carlyle Group). Today he serves as a director on the Board of Connectivity Wireless and has responsibility for Omega Wireless. Jim graduated from the University of Notre Dame a B.B.A in Finance and received an MBA from Harvard Business School. He lives outside Boston with his wife and four children. Jim was an avid boater and is now an average golfer.




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Abhishek Rampuria

Abhishek (A.B.) is a Partner at M/C Partners, where he leads origination, deal diligence and portfolio company support for investments in a variety of communications and technology services segments. He currently serves on the Board of Ascend Technologies, Connectivity Wireless, Edafio Technology Partners, TowerCom and serves as a Board Observer for Thrive Networks. A.B. previously served as a Board Observer for Ensono (acquired by KKR) and QOS Networks (acquired by Zayo). Prior to joining M/C Partners in 2015, A.B. worked at Altman Solon (formerly Altman Vilandrie), a technology, media & telecommunications focused strategy consulting firm, where he completed projects for both operating companies and private equity investors. A.B. received a B.S. in Materials Science & Engineering from the Massachusetts Institute of Technology. He lives in Boston’s South End and outside of work, enjoys skiing, cycling, traveling and cheering on his home-town Patriots and Celtics.




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